1. LUMINEX
CORPORATION
4Q and Full Year 2010 Patrick J. Balthrop,
President and Chief Executive Officer
Results of Operations
Harriss T. Currie,
Vice President and Chief Financial Officer
February 7, 2011
1

2. Safe Harbor
Certain statements made during the course of this presentation may not be purely historical and consequently may
be forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including
but not limited to: Statements made regarding our growth initiatives, including new product offerings and new and
renewed partner channel relationships, and their ability to create long term shareholder value; our ability to drive
growth through innovation; our ability to continue to expand operating margins; prospects for, expected
placements of, and expected demand for our MAGPIX instrument; continued expansion of our clinical assay menu;
future benefits of our partnership with Advanced Liquid Logic; future effective tax rates and resulting cash
payments; future revenues from consumables, royalties and assays as a portion of total revenue mix and future
volatility in consumable purchases; future bulk purchases and their effect on the distribution of our total revenue
across the 2011 fiscal year; our ability to deliver revenue growth and manage operating costs; future R&D, SG&A
and PP&E expenditures; our pipeline of assay and system products, and expected launch dates for assay
products; the sustainable level of days sales outstanding; our platform product line strategy, including automation
initiatives; driving growth through our indirect partners and international expansion; the macroeconomic
environment and expected restraints on capital expenditures; the ability of our products to enhance productivity;
distribution of our revenues between the diagnostic and life science research market; the FDA and changes to the
510(k) approval process, and resulting cost increases for Luminex; our revenue guidance and distribution of our
revenue over the 2011 fiscal year; overall demand from our end customers; expected instrument placements; future
growth rates; the reasonableness of current first quarter street consensus revenue; expectations regarding flu
season and revenue contribution from new assay launches; the longer term health of our business and demand for
our technology; our strategic outlook and growth plan for our business for 2011 and beyond; our long term
financial targets; operational trends, including those related to sales of consumables, royalty revenues and
inventory levels; our business outlook and projections about revenues, cash flow, system shipments, expenses
and market conditions, and their anticipated impact on Luminex; information regarding development, timing and
performance of new products; and, any statements of the plans, strategies and objectives of management for
future operations. These forward looking statements speak only as of the date hereof and are based on our current
beliefs and expectations and are subject to known or unknown risks and uncertainties some of which are beyond
the company’s control that could cause actual results or plans to differ materially and adversely from those
anticipated in the forward looking statements. Factors that could cause or contribute to such differences are
detailed in our press release or in our annual, quarterly, or other filings with the Securities and Exchange
Commission. We undertake no obligation to update these forward looking statements.
Also, certain non-GAAP financial measures as defined by SEC Regulation G, may be covered in this presentation.
To the extent that any non-GAAP financial measures are covered, a presentation of and reconciliation to the most
directly comparable GAAP financial measures will be included in this presentation and/or be available on our
website at www.luminexcorp.com in accordance with Regulation G.
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3. Today’s Agenda
4Q and 2010 Highlights
4Q and 2010 Financial Review
2011 Outlook and Guidance
Q&A
3

4. 4Q 2010 Financial Highlights
Record consolidated revenue of $41.2M, +8% Y/Y
Key revenue segments:
Consumable revenue of $12.0M, +49%
Royalty revenue of $6.0M, +26%
Assay revenue of $9.2M, -28% (H1N1 boost in 4Q09)
System revenue of $10.3M, +11%
286 multiplexing analyzers, incl. 16 FLEXMAP 3D and 34 MAGPIX units
Consolidated gross margin of 69.4%, +220bps Y/Y
Operating income of 12.4% of consolidated revenue
Net income of $3.2M, or $0.07 per fully diluted share
4

5. Executing on the Growth Plan
Revenue ($M) Margins (%)
OM
CAGR = 28% 68% 67% 68% 67% 68%
$140 9% GM
$120
7%
$100
$80
5%
$60
$40 3%
$20
1%
$0
2006 2007 2008 2009 2010
-1% 2006 2007 2008 2009 2010
-23%* * 2007 not to scale
-3%
2006 2007 2008 2009 2010
Investment in R&D Investment in R&D +77% Y/Y FDA Clearance of RVP Rollout of RVP Package Launch of MAGPIX ®
+55% Y/Y Insert- H1N1
Tm Acquisition Closed 5000th instrument Renew OLI agreement
LBG investment, shipped LMNX Shanghai
Announce Next Gen Launch of qBead
launch of two assays
Instrument: FLEXMAP 3D® Launch FLEXMAP 3D® LMNX Tokyo
7000th instrument shipped
Investment in ®
Launch xTAG RVP SG&A Management New CF w/ ‘Fast Chemistry’
Infrastructure, Reg, ®
BSD Robotics acquisition
Mktg, Service Launch FlexmiR Select Strategic Partnerships RVP Awareness Campaign
ALL and HTG agreements
miRNA
5

6. 2010 Corporate Highlights
Operational Accomplishments:
Developed and successfully launched MAGPIX®
Acquired and fully integrated BSD Robotics
Renewed partnership with leader in the HLA testing market, One Lambda
Received FDA clearance for assays: CYP450 2D6, CF-60 V2
Advanced with Biothreat programs
Strategic Initiatives:
Signed exclusive collaboration/license agreement with Advanced Liquid Logic
HTG Partnership – Custom gene expression assay (qBead)
Tecan partnership for high volume automation
6

7. 4Q and 2010 Highlights
4Q and 2010 Financial Review
2011 Outlook and Guidance
Q&A
7

8. Q4 and 2010 Income Statement
($ in thousands - except per share amounts)
4Q 2010 4Q 2009 Variance 2010 2009 Variance
Revenue $ 41,190 $ 38,167 $ 3,023 $ 141,557 $ 120,643 $ 20,914
Gross Margin % 69% 67% 2% 68% 67% 1%
Operating Expenses 23,496 20,357 (3,139) 85,126 73,895 (11,231)
Operating Profit 5,083 5,298 (215) 11,251 7,399 3,852
Operating Profit % 12% 14% -2% 8% 6% 2%
Net Income: As Reported $ 3,199 $ 20,016 $ (16,817) $ 5,231 $ 17,729 $ (12,498)
Income Tax Adjustment* - (15,707) 15,707 - (19,004) 19,004
Adjusted Net Income (Loss) $ 3,199 $ 4,309 $ (1,110) $ 5,231 $ (1,275) $ 6,506
EPS, As Reported (Basic) $ 0.08 $ 0.49 $ (0.41) $ 0.13 $ 0.44 $ (0.31)
EPS, Adjusted (Basic) $ 0.08 $ 0.11 $ (0.03) $ 0.13 $ (0.03) $ 0.16
* The income tax adjustment of $15.7M in the fourth quarter of 2009 and $19.0M for the full year 2009 reflects the amount of additional tax
expense that would have been recorded had the valuation allowance been released prior to 2009 and the U.S. income was shown as if fully
taxed.
The Company believes that the non-GAAP measure used in this presentation, when presented in conjunction with the comparable GAAP
measure, is useful to both management and investors in analyzing financial and business trends regarding the Company's ongoing business
and operating performance. This non-GAAP measure should be considered in addition to, but not as a substitute for, items prepared in
accordance with GAAP.
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9. Q4 and 2010 Segment Results
($ in thousands)
4Q 2010 4Q 2009 Variance 2010 2009 Variance
Revenue
Technology &
$ 30,550 $ 24,794 $ 5,756 $ 105,586 $ 87,389 $ 18,197
Strategic Partnerships
Assays &
10,640 13,373 (2,733) 35,971 33,254 2,717
Related Products
Total Revenue 41,190 38,167 3,023 141,557 120,643 20,914
Operating Income (Loss)
Technology &
5,872 2,669 3,203 15,977 8,122 7,855
Strategic Partnerships
Assays &
(789) 2,629 (3,418) (4,726) (723) (4,003)
Related Products
Total Operating Income $ 5,083 $ 5,298 $ (215) $ 11,251 $ 7,399 $ 3,852
Total Operating Margin 12% 14% -2% 8% 6% 2%
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10. Consolidated Revenue Distribution
($ in thousands) ($ in thousands)
$45,000
$40,000 $140,000
$35,000 $120,000
$30,000 $100,000
$25,000 66% $80,000 67%
67%
$20,000 64%
$60,000
$15,000
$40,000
$10,000
$5,000 $20,000
$0 $0
Q4 2010 Q4 2009 2010 2009
System Revenue Consumable Revenue
Royalty Revenue Assay Revenue
Service Revenue Other Revenue
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11. Bulk Consumables
Bulk purchases of consumables account for the majority of the volatility
($ in thousands)
$12,000
$10,000
$8,000
84%
$6,000
$4,000
$2,000
$0
08-Q4 09-Q1 09-Q2 09-Q3 09-Q4 10-Q1 10-Q2 10-Q3 10-Q4
Non-bulk Bulk 4 Qtr MA
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12. Potential for Operating Leverage
SG&A (% of Total Revenue) Research and Development ($M)
47%
$25 20% 18% 17% 17% % of Rev
46%
$22
CAGR = 17%
45% $19
44% $16
43% $13
42% $10
2007 2008 2009 2010 2007 2008 2009 2010
Management focus on driving Focus on driving long term
operating leverage, particularly growth through significant
from the G&A portion continued investment in R&D
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13. Long Term Financial Targets
Consolidated TSP and ARP Operations
Long-term Compounded Annual Revenue Growth of 20+ Percent
All Metrics Except Revenue Growth Expressed in Percent of Current Year Revenue
Metric 2007 2008 2009 2010 Long Term
Targets
Revenue 100% 100% 100% 100%
Revenue Growth (YoY) 42% 39% 16% 17% 20+%
Focused on delivering results in 2010
Focused on delivering results in 2010
Gross Profit 61% 68% 67% 68% 65% - 75%
R&D Expense 21% 18% 17% 17% 15%
Pretax Income (Loss) (3)% 4% 6%* 8% 25% - 35%
*Adjusted for the settlement of litigation
13

14. Strong Balance Sheet
($ in millions)
12/31/2010 09/30/2010 12/31/2009
Cash & Investments $ 123.9 $ 118.3 $ 119.6
Accounts Receivable $ 20.9 $ 19.0 $ 22.1
DSO 47 52 53
Inventory $ 24.9 $ 24.1 $ 17.5
Inventory Turns 0.5 0.5 0.8
Total Assets $ 265.8 $ 259.0 $ 248.0
Current Ratio 8.7 8.6 7.2
Days Payable 56 53 62
14

15. Cash & Investment Flow
($ in millions)
145 24.2M 11.1M
140
135 8.3M
130
2.2M 2.7M
123.9M
125
119.6M
120
115
110
Cash & Investments Operating Cash Flow PP&E Purchases Strategic Equity Issuances Other Items Cash & Investments
12/31/09 Investments 12/31/10
15

16. 4Q and 2010 Highlights
4Q and 2010 Financial Review
2011 Outlook and Guidance
Q&A
16

17. 2011 Outlook – Growth Drivers
Platforms / Product Line Strategy
MAGPIX®
Automation Initiatives
BSD Robotics, ALL, Tecan
Assay Launches
RVP Fast
Gastrointestinal Pathogen Panel – CE Mark
Newborn Screening / NeoPlex 4™ - CE Mark
Meningitis - CE Mark
Specialty Markets
Biothreat program
International Expansion
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18. 2011 Outlook - Macro Environment
Stable cap-ex across key markets/customers
EU – FY11 funding stable at core members
US – House proposed flat FY11 NIH budget Y/Y
Asia – Japan +3%, strong growth in China
Luminex has limited exposure to LSR Capex
LSR systems account <20% of total revenue
Regulatory environment is challenging
Improving clarity on 510(k) process in 2011
Still plan for the FDA to require more data per
510(k) submission, higher costs per clinical study
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19. 2011 Guidance
2011 revenue of $163M - $170M or up to 20% growth Y/Y
2011
2010
2009
100 110 120 130 140 150 160 170 180
Actual Lower End of 2011 Guidance Upper End of 2011 Guidance $M
Revenue Segment Lower End of Range Upper End of Range
Very strong demand for
Systems Strong demand for MAGPIX®
MAGPIX®
Strong partner expansion of
Consumables Consistent partner utilization
development activities
Expansion of partner assay
Royalties Continued growth
menu; high market demand
Moderate contribution from Higher contribution from new
Assays
new products, light ILI season products, normal ILI season
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20. 4Q and 2010 Highlights
4Q and 2010 Financial Review
2011 Outlook and Guidance
Q&A
20

21. LUMINEX
CORPORATION
4Q and Full Year 2010 Patrick J. Balthrop,
President and Chief Executive Officer
Results of Operations
Harriss T. Currie,
Vice President and Chief Financial Officer
February 7, 2011
21