Bio-Rad Reports Second-Quarter Revenue Growth of 11.5 Percent
(firmenpresse) - HERCULES, CA -- (Marketwire) -- 08/02/11 -- Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B), a multinational manufacturer and distributor of life science research and clinical diagnostic products, announced financial results today for the second quarter ended June 30, 2011.
Second-quarter reported revenues were $521.7 million, up 11.5% compared to $467.7 million reported for the second quarter of 2010. On a currency-neutral basis, quarterly revenues increased 4.2% compared to the same period last year. This improvement is the result of organic growth across Bio-Rad's primary segments, Life Science and Clinical Diagnostics. Second-quarter gross margin was 56.2% compared to 57.4% reported during the same quarter last year.
Net income attributable to Bio-Rad for the second quarter of 2011 was $40.0 million compared to $38.0 million reported for the second quarter of 2010. Second-quarter earnings were $1.41 per share on a fully diluted basis versus $1.35 per share reported for the same period last year.
Year-to-date revenues grew by 9.2% to $1.0 billion compared to $921.9 million for the first two quarters of 2010. Adjusting for the impact of currency, revenue growth was 4.5%.
Year-to-date net income attributable to Bio-Rad was $73.1 million, or $2.57 per share on a fully diluted basis, compared to $72.8 million, or $2.59 per share, respectively, during the same period in 2010.
"The first half of the year reflects continued strength across many of our product lines," said Norman Schwartz, Bio-Rad President and Chief Executive Officer. "While the global economic outlook suggests modest growth, we continue to invest in the future and our outlook remains positive for the remainder of the year."
Life Science segment net sales for the second quarter were $169.9 million, up 12.8% compared to the same period last year. On a currency-neutral basis, Life Science segment net sales increased by 6.7% compared to the second quarter of 2010. The electrophoresis and imaging product lines performed well during the quarter, supported by several recent product launches including the Trans-Blot® Turbo transfer system and the Gel Doc™ EZ imaging platform. During the quarter, the Life Science segment also benefitted from sales of the TGX™ precast electrophoresis gel product line and the TC10™ automated cell counter. Deliveries of process chromatography media were also strong.
Reported net sales for the Clinical Diagnostics segment in the second quarter rose to $348.0 million, up 10.8% compared to the same quarter last year. On a currency-neutral basis, net sales were up 2.8%. These gains were the result of growth across many product lines, most notably from quality controls and diabetes monitoring. During the second quarter, Bio-Rad announced the European and Canadian launch of its BioPlex® 2200 Antiphospholipid Syndrome IgG, IgM, and IgA kits for use on its BioPlex® 2200 system. Antiphospholipid Syndrome is an autoimmune disease in which the body's immune system mistakenly produces antibodies to certain blood proteins causing thrombosis (clotting) within arteries, veins, and small blood vessels.
Management will discuss these results in a conference call at 2 PM Pacific Time (5 PM Eastern Time) August 2, 2011. Interested parties may access the call by dialing 866-277-1181 (in the U.S.) or 617-597-5358 (international), access number 35139244.
A live webcast of the conference call may be accessed in the "Investor Relations" section of . A replay of the call will be available at 888-286-8010 (in the U.S.) or 617-801-6888 (international), access number 87791245, for seven days following the call. The webcast of the call will be archived on the Bio-Rad site for on-demand replay for up to a year and may be accessed in the "Investor Relations" section of .
Bio-Rad Laboratories, Inc. (NYSE: BIO) and (NYSE: BIO.B) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostics markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 100,000 research and industry customers worldwide through its global network of operations. The company employs over 6,800 people globally and had revenues exceeding $1.9 billion in 2010. For more information, please visit .
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. 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. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" in the Company's public reports filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. 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.
Christine Tsingos
Vice President and Chief Financial Officer
or
Ron Hutton
Treasurer
Bio-Rad Laboratories, Inc.
510-724-7000
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Datum: 02.08.2011 - 20:15 Uhr
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