Bio-Rad Laboratories, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 07, 2024 at 04:18 pm EDT
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Bio-Rad Laboratories, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 610.82 million compared to USD 676.84 million a year ago. Net income was USD 383.92 million compared to USD 68.96 million a year ago.
Basic earnings per share from continuing operations was USD 13.46 compared to USD 2.33 a year ago. Diluted earnings per share from continuing operations was USD 13.45 compared to USD 2.32 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%).