Bio-Rad Laboratories, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 15, 2024 at 04:25 pm EST
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Bio-Rad Laboratories, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 681.18 million compared to USD 730.29 million a year ago. Net income was USD 349.71 million compared to USD 827.73 million a year ago. Basic earnings per share from continuing operations was USD 12.15 compared to USD 27.89 a year ago. Diluted earnings per share from continuing operations was USD 12.14 compared to USD 27.78 a year ago.
For the full year, sales was USD 2,671.26 million compared to USD 2,802.25 million a year ago. Net loss was USD 637.32 million compared to USD 3,627.54 million a year ago. Basic loss per share from continuing operations was USD 21.82 compared to USD 121.79 a year ago. Diluted loss per share from continuing operations was USD 21.82 compared to USD 121.79 a year ago.
Bio-Rad Laboratories, Inc. is specialized in the development, manufacturing and marketing of products used in life sciences research, clinical diagnostics and analytical chemistry. Net sales break down by activity as follows:
- manufacture of clinical diagnostic tests and automated test systems (51.8%). The group also offers test kits, quality control systems and related IT systems;
- manufacture of reagents, equipment and instruments for biological research (48.1%): for the separation, identification and purification of chemical and biological substances (proteins, nucleic acids, bacteria, etc.) for the proteomics, genomics research, biopharmaceuticals, cell biology and food safety markets;
- other (0.1%): in particular, manufacturing of analytical instruments.
At the end of 2022, the Group has 16 production sites in the United States (5), Germany (3), France (2), China (2), Poland, the United Kingdom, Switzerland and Singapore.
Net sales are distributed geographically as follows: the United States (41.2%), Europe (30.4%), Asia (22.8%) and other (5.6%).