Short answer
Bio-rad Laboratories Inc (BIO) filed its fiscal 2017 10-K annual report with the SEC on Apr 16, 2018. It reported revenue of $2.2B (+4.4% year over year) and net income of $122M.
- Top risk flagged: FCPA settlement exposure: Further foreign-government investigations or third-party claims after the DOJ and SEC NPA expired November 2, 2016
FY2017 key financial metrics · XBRL
- Revenue
- $2.2B
- +4.4% YoY
- Net income
- $122M
- +334.7% YoY
- Operating margin
- 5.4%
- +2.8 pp YoY
- Gross margin
- 55.0%
- −0.1 pp YoY
- EPS (diluted)
- $4.07
- +328.4% YoY
- ROE
- 4.2%
- +3.1 pp YoY
- Operating cash flow
- $104M
- −52.0% YoY
Source: XBRL data from the Bio-rad Laboratories Inc (BIO) FY2017 10-K on SEC EDGAR. USD.
Bio-rad Laboratories Inc FY2017 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global life sciences and clinical diagnostics supplier, integrating instruments, reagents, software and systems for research and testing
- Two segments: Life Science 36% and Clinical Diagnostics 63% of 2017 net sales
- Strategic emphasis on higher-margin, higher-growth clinical diagnostics niches with recurring installed-base revenue
- R&D investment rose to $250.3 million from $205.9 million in 2016
- Approximately 8,150 employees at December 31, 2017, including roughly 6,000 Life Science and 3,000 Clinical Diagnostics products
Management Discussion & Analysis
- Revenue $2.16B, up 4.4% YoY from $2.07B, with currency-neutral growth of 3.5%
- Life Science best performer: $785.2M sales, up 7.5%; Clinical Diagnostics $1.36B, up 2.8%
- Gross margin 55.0% vs 55.0%; net income margin 5.7% vs 1.3%
- Operating cash flow $103.9M; capex $111.3M; RainDance acquisition cash payments $72.9M
- $250M share-repurchase authorization; risks include government spending constraints, foreign exchange and goodwill impairment sensitivity
Risk Factors
- FCPA settlement exposure: Further foreign-government investigations or third-party claims after the DOJ and SEC NPA expired November 2, 2016
- European macroeconomic exposure: $41.0 million receivables in Spain, Italy, Greece and Portugal at December 31, 2017
- ERP vulnerability: Western Europe deployment delays disrupted manufacturing, logistics, vendor payments and product shipments during 2017
- Competitive disruption: Molecular diagnostics and point-of-care testing trends threaten Bio-Rad’s traditional clinical diagnostics offerings
- Leverage risk: Approximately $435.0 million debt plus a maximum consolidated leverage-ratio covenant as of December 31, 2017
Generated from the filing text; verify against the original. How to read a 10-K
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