Friday, August 06, 2004

Bio-Rad Q2 Results

4:38 PM PDT Thursday
Bio-Rad Q2 results released

Bio-Rad Laboratories Inc. of Hercules (with operations in Benicia, CA) reported a second-quarter profit Thursday of 79 cents per share, down from 86 cents a share a year ago, on revenue of $260.5 million.

The maker of life sciences research products and diagnostics said net sales from continuing operations were up 8.9 percent compared with $239.3 million in the same quarter a year ago. On a currency-neutral basis, revenues grew 4.2 percent year-over-year. Bio-Rad attributed the increase to growth in the company's main business segments as well as currency effects.

One analyst who follows the firm had predicted revenue of $264 million and earnings of 80 cents a share, according to Thomson First Call.

For the quarter, income from continuing operations was $20.3 million compared with $21.9 million in the second quarter of last year.

Income from continuing operations for the six-month period was $42.9 million, or $1.67 per share, an 11.8 percent decrease compared with $48.6 million, or $1.92 per share, in the same quarter last year. Bio-Rad said the shortfall was largely due to anticipated spending on infrastructure improvements.

© 2004 American City Business Journals Inc.

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