Short answer

Bio-rad Laboratories Inc (BIO) filed its fiscal 2015 10-K annual report with the SEC on Feb 29, 2016.

Top risk flagged: FCPA settlement: DOJ and SEC NPA compliance obligations through November 2016, with potential further investigations and penalties

Bio-rad Laboratories Inc FY2015 10-K analysis

AI summary of each section, grounded in the filing text

Core model: Global life science research and clinical diagnostics products, systems, reagents, instruments and software
Two segments: Life Science 34% and Clinical Diagnostics 65% of 2015 net sales
Strategic emphasis: Higher-margin, higher-growth clinical diagnostics niches with recurring installed-base revenue
International reach: 64% of consolidated net sales outside the United States
R&D investment: $193.0 million in 2015, down from $220.3 million in 2014

Revenue $2.02B, down 7.2% YoY; currency-neutral sales up 1.6%
Gross margin 55.5% vs 54.2%; net income margin 5.6% vs 4.1%
Best segment: Life Science, $695.0M sales, currency-neutral growth 2.5%; Clinical Diagnostics $1.31B, down 8.5%
Operating cash flow $186.2M; capex $112.0M; up to $18.0M buyback authorization, $3.3M remaining
Outlook: capex historically higher for three years or more; risks include currency, government funding, reimbursement constraints and emerging-market weakness

FCPA settlement: DOJ and SEC NPA compliance obligations through November 2016, with potential further investigations and penalties
Global exposure: foreign subsidiaries generated 64% of 2015 net sales, with $40.7 million receivables in Spain, Italy, Greece and Portugal
ERP disruption: July 2015 second deployment caused manufacturing and logistics delays that adversely impacted sales
Competitive disruption: molecular diagnostics and point-of-care testing trends threaten product relevance
Debt burden: $436.0 million outstanding indebtedness plus $200.0 million revolving facility capacity

Generated from the filing text; verify against the original. How to read a 10-K

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