Sizzling Stock Update: Bio-Rad Laboratories, Inc. (NYSE:BIO)

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Bio-Rad Laboratories, Inc.,BIO

On 22 Jan 2019, Bio-Rad Laboratories, Inc. (NYSE:BIO) shares price traded between $234.29 and $240.90 during the last trading session above/below with -1.72% at $235.52. The shares recorded trading volume 167,158 shares as compared to its average volume of 218,434 shares. Over the one year trading period, the stock has a peak price of $345.15 and its down is recorded at $220.05.

Bio-Rad Laboratories, Inc. (BIO) recently reported financial results for the third quarter ended September 30, 2018.

Third-quarter 2018 net sales were $545.1M, an raise of 2.1 percent contrast to $534.1M stated for the third quarter of 2017. On a currency-neutral basis, quarterly sales raised 3.4 percent contrast to the same period in 2017, reflecting growth across the business. Third-quarter gross margin was 52.6 percent contrast to 56.0 percent during the third quarter in 2017. Gross margin in the third quarter of 2018 was influenced by higher costs for service, warranty and reagent rental, as well as the effects of changes in product mix.

Life Science section net sales for the third quarter were $206.6M, an raise of 7.1 percent contrast to the same period in 2017. On a currency-neutral basis, Life Science section sales raised by 8.0 percent contrast to the same quarter in 2017. Currency-neutral sales reflect growth of multiple product lines in the section, including sales of droplet digital PCR, cell biology, process media, and food safety products. On a geographic view, the sales raise was attributed to growth in North America, China, and India.

Clinical Diagnostics section net sales for the third quarter were $334.0M, a decrease of 1.2 percent contrast to the same period in 2017. On a currency-neutral basis, net sales were up 0.5 percent contrast to the same quarter last year. Currency-neutral sales from the third quarter reflected growth in blood typing, quality control, diabetes monitoring, and immunology product lines. On a geographic view, the sales raise for the quarter was attributed to growth across the Americas and Asia, partially offset by a decline in Europe, when contrast to the same period last year.

Net income for the third quarter of 2018 was $269.3M, or $8.89 per share on a diluted basis, contrast to $22.1M, or $0.73 per share on a diluted basis, during the same period in 2017. Net income for the third quarter of 2018 contrast to the third quarter of 2017 was importantly and favorably influenced by the recognition on the income statement of changes in the fair market value of equity securities of $318.0M in this quarter primarily related to the holdings of our investment in Sartorius AG. Inclusion of these equity investment changes in valuation is the result of new accounting standards that became effective in 2018.

2018 Financial Outlook

For the full year 2018, the company is reiterating the previous currency-neutral growth revenue outlook of 4.0 to 4.5 percent. Given the lower than anticipated gross margin result for the first nine months of the year, the company now anticipates a full year currency-neutral operating margin of 8.0 to 9.0 percent, or an estimated 9.5 to 10.5 percent on a non-GAAP basis, which compares to the previous non-GAAP estimate of 11.0 to 11.5 percent. Management will discuss this outlook in greater detail on the third quarter 2018 financial results conference call.

“As we head into the end of the year, we anticipate 2018 will be another year of growth in many of our key product areas as well as broad contribution from most of our major geographies,” Mr. Schwartz stated. “While the operating performance for the year is not as strong as we would have liked, we still project that 2018 will reflect substantial improvement in operating profit over 2017.”

Non-GAAP Reporting

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including non-GAAP net income and non-GAAP EPS, which exclude amortization of acquisition-related intangible assets, certain acquisition-related expenses and benefits, restructuring charges, asset impairment charges, valuation changes of equity owned investments, gains and losses on equity-method investments, and important legal-related charges or benefits and associated legal costs. Non-GAAP net income and non-GAAP EPS also exclude certain other gains and losses that are either isolated or cannot be predictable to occur again with any predictability, tax provisions/benefits related to the previous items, and important discrete tax events. We exclude the above items because they are outside of our normal operations and/or, in certain cases, are difficult to forecast accurately for future periods.

It has 29.74 million of outstanding shares and its shares float measured at 21.48. BIO stock price showed weak performance of -0.36% in last seven days, switched up 0.25% in last thirty days and it fell -7.47% in last one year.

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