Bio-Rad Reports First-Quarter 2015 Financial Results
(firmenpresse) - HERCULES, CA -- (Marketwired) -- 05/05/15 -- Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a global provider of life science research and clinical diagnostic products, announced financial results today for the first quarter ended March 31, 2015.
First-quarter reported revenues were $472.8 million, down 7.2% compared to $509.3 million reported for the first quarter of 2014. On a currency-neutral basis, quarterly revenues increased 1.4% compared to the same period last year. First-quarter 2015 gross margin was 57.1% compared to 54.0% during the same quarter last year. The year-over-year increase in gross margin in the first quarter was the result of favorable sales mix and improved manufacturing variances in the first quarter of 2015, as well as benefits from the consolidation and closure of certain facilities during 2014.
Net income for the first quarter of 2015 was $17.8 million, or $0.61 per share on a fully diluted basis compared to $6.7 million or $0.23 per share during the same period last year. In addition to gross margin gains, the year-over-year increase in net income was also helped by the absence of a nonrecurring expense accrued in the first quarter of 2014.
The effective income tax rate for the first quarter of 2015 was 33% compared to the tax rate for the first quarter of 2014 of 54%. The higher tax rate in 2014 was primarily due to higher unbenefitted losses in foreign jurisdictions relative to lower pretax income.
"Currency headwinds mask what was otherwise a respectable performance in the first quarter this year," said Norman Schwartz, Bio-Rad President and Chief Executive Officer. "With the completion of our new more globalized management structure, we look forward to improvements in operational efficiency."
The Life Science segment net sales for the first quarter of 2015 were $155.9 million, down 3.4% compared to the same period last year. On a currency-neutral basis, Life Science segment sales increased 4.0% compared to the first quarter in 2014. Results from the first quarter benefitted from increased sales of our Droplet Digital™ PCR, process media, and cell biology products. The currency-neutral sales increase, which reflected strength primarily in North American and European markets, was somewhat offset by slower sales in Asia.
Net sales for the Clinical Diagnostics segment in the first quarter of 2015 were $313.6 million, down 8.9% compared to the first quarter for 2014. On a currency-neutral basis, net sales increased 0.2% compared to the same period last year. Performance of the Clinical Diagnostics segment in the first quarter benefitted from sales of quality control and immunology products. While sales increased in North America, Eastern Europe, and China in the first quarter of 2015, sales in European markets continue to experience consolidation and pricing pressures.
Management will discuss these results in a conference call at 2 PM Pacific Daylight Time (5 PM Eastern Daylight Time) May 5, 2015. Interested parties may access the call at 855-779-9068 within the U.S. or 631-485-4862 outside the U.S., passcode: 21291896.
You may also listen to the conference call live via a webcast that is available on the "Investor Relations" section of our website under "Quarterly Results" at .
The webcast will be available for up to a year.
Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B) develops, manufactures, and markets a broad range of innovative products and solutions for the life science research and clinical diagnostic markets. The company is renowned for its commitment to quality and customer service among university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries. Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than 100,000 research and healthcare industry customers through its global network of operations. The company employs more than 7,600 people worldwide and had revenues exceeding $2.1 billion in 2014. For more information, please visit .
This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding our improved operational efficiency and future financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "anticipate," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties include recent changes to our global organizational structure and executive management team, difficulties in implementing our global enterprise resource planning system, our ability to develop and market new or improved products according to our business plan, our ability to compete effectively, product quality and liability issues, supply chain issues, reductions in government funding or capital spending of our customers, changes in the healthcare industry, international legal and regulatory risks, foreign currency exchange fluctuations, global economic conditions, and natural disasters and other catastrophic events beyond our control. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in the Company's public reports filed with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015 to be filed with the SEC. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc. disclaims any obligation to update these forward-looking statements.
Bio-Rad Laboratories, Inc.
Christine Tsingos
Executive Vice President and Chief Financial Officer
Ron Hutton
Vice President, Treasurer
510-724-7000
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.05.2015 - 20:15 Uhr
Sprache: Deutsch
News-ID 391126
Anzahl Zeichen: 0
contact information:
Town:
HERCULES, CA
Kategorie:
Healthcare
Diese Pressemitteilung wurde bisher 167 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Bio-Rad Reports First-Quarter 2015 Financial Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Bio-Rad Laboratories (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
