Company profile

Ticker
BIO
Exchange
CEO
Norman D. Schwartz
Employees
Incorporated in
Location
Fiscal year end
Former names
Bio Rad Laboratories Inc
SEC CIK
IRS number
941381833

BIO stock data

(
)

Calendar

6 Aug 19
25 Aug 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 572.62M 553.98M 616.9M 545.1M
Net income 598.81M 865.2M -828.5M 269.3M
Diluted EPS 19.86 28.74 -27.73 8.89
Net profit margin 105% 156% -134% 49.40%
Operating income 56.39M 56.61M
Net change in cash 124.79M 24.36M
Cash on hand 580.68M 455.89M 431.53M
Cost of revenue 264.85M 242.22M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 2.29B 2.16B 2.07B 2.02B
Net income 365.61M 122.25M 26M 113.09M
Diluted EPS 12.1 4.07 0.88 3.85
Net profit margin 15.97% 5.66% 1.26% 5.60%
Operating income -103.34M 119.25M 55.72M 166.71M
Net change in cash 47.7M -72.44M -1.29M 44.3M
Cash on hand 431.53M 383.82M 456.26M 457.55M
Cost of revenue 1.07B 972.45M 929.74M 897.77M

Financial data from company earnings reports

Financial report summary

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Risks
  • Our settlement with government agencies in connection with violations by us of the U.S. Foreign Corrupt Practices Act could have a material adverse effect on our business, results of operations and financial condition.
  • Our international operations expose us to additional costs and legal and regulatory risks, which could have a material adverse effect on our business, results of operations and financial condition.
  • The industries and market segments in which we operate are highly competitive, and we may not be able to compete effectively.
  • We may not be able to grow our business because of our failure to develop new or improved products.
  • We are subject to foreign currency exchange fluctuations, which could have a material adverse effect on our results of operations and financial condition.
  • We may experience difficulties implementing our new global enterprise resource planning system.
  • Recent and planned changes to our organizational structure and executive management team could negatively impact our business.
  • Our failure to establish and maintain effective internal control over financial reporting could result in material misstatements in our financial statements, our failure to meet our reporting obligations and cause investors to lose confidence in our reported financial information, which in turn could cause the trading price of our common stock to decline.
  • Breaches of our information systems could have material adverse effect on our business and results of operations.
  • Risks relating to intellectual property rights may negatively impact our business.
  • Global economic conditions could adversely affect our operations.
  • Reductions in government funding and the capital spending programs of our customers could have a material adverse effect on our business, results of operations or financial condition.
  • Changes in the healthcare industry could have an adverse effect on our business, results of operations and financial condition.
  • We are subject to substantial government regulation, and any changes in regulation or violations of regulations by us could adversely affect our business, prospects, results of operations or financial condition.
  • We cannot assure you that we will be able to integrate acquired companies, products or technologies into our company successfully, or we may not be able to realize the anticipated benefits from the acquisitions.
  • Product quality and liability issues could harm our reputation and negatively impact our business, results of operations and financial condition.
  • Lack of key personnel could hurt our business.
  • A reduction or interruption in the supply of components and raw materials could adversely affect our manufacturing operations and related product sales.
  • If our information technology systems are disrupted, or if we fail to successfully implement, manage and integrate our information technology and reporting systems, our business, results of operations and financial condition could be harmed.
  • Natural disasters, terrorist attacks, acts of war or other events beyond our control may cause damage or disruption to us and our employees, facilities, information systems, security systems, vendors and customers, which could significantly impact our business, results of operations and financial condition.
  • We may have higher than anticipated tax liabilities.
  • Changes in tax laws or rates, changes in the interpretation of tax laws or changes in the jurisdictional mix of our earnings could adversely affect our financial position and results of operations.
  • Our reported financial results may be materially affected by changes in accounting principles generally accepted in the United States.
  • Our reported financial results may be materially affected by changes in the market value of our investment in Sartorius AG.
  • We may incur losses in future periods due to write-downs in the value of financial instruments.
  • Environmental, health and safety regulations and enforcement proceedings may negatively impact our business, results of operations and financial condition.
  • Our debt may restrict our future operations.
  • We are subject to healthcare laws and regulations and could face substantial penalties if we are unable to fully comply with such laws.
  • Regulations related to “conflict minerals” could adversely impact our business.
  • A significant majority of our voting stock is held by the Schwartz family, which could lead to conflicts of interest.
Management Discussion
  • Net sales (sales) for the second quarter of 2019 were $572.6 million compared to $575.9 million in the second quarter of 2018, a decrease of 0.6%.  Excluding the impact of foreign currency, second quarter 2019 sales increased by approximately 2.7% compared to the same period in 2018. Currency neutral sales increased in all three major regions, the Americas, Europe and Asia.
  • The Life Science segment reported sales for the second quarter of 2019 were $212.4 million, a decrease of 2.5% compared to the same period last year.  On a currency neutral basis, sales decreased 0.1% compared to the second quarter in 2018. The currency neutral sales decrease was primarily driven by our Process Chromatography product line characterized by large and irregular ordering patterns by our customers that was largely offset by growth in the Droplet Digital PCR and Gene Expression product lines. Currency neutral sales increases occurred in the Americas and Asia, and were down in Europe.
  • The Clinical Diagnostics segment reported sales for the second quarter of 2019 were $357.1 million, an increase of 0.9% compared to the same period last year.  On a currency neutral basis, sales increased 4.8% compared to the second quarter in 2018.  The currency neutral sales increase was primarily due to solid growth in our Quality Controls, Immunology and Diabetes product lines. On a geographic view, currency neutral sales growth for the second quarter was seen across all three major regions, with the strongest growth in Asia.
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