Bio-rad Laboratories Inc (BIO) Q1 2015 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q1 2015 10-Q quarterly report on May 6, 2015 for the quarter ended Mar 31, 2015.

AI summary of MD&A and risk factor updates

Revenue $472.8M, down 7.2% YoY from $509.3M, currency-neutral growth 1.4%
Gross margin 57.1% vs 54.0% YoY, net margin 3.8% vs 1.3%
Best segment: Life Science sales $155.9M, currency-neutral growth 4.0%; Clinical Diagnostics sales $313.6M, down 8.9%
Operating cash flow $29.4M vs $65.6M YoY; cash, equivalents and investments $710.7M
Capital expenditures $27.1M vs $22.6M, with ERP implementation expected in the second half of 2015
Headwinds: government spending constraints, currency weakness, European consolidation and price competition

FCPA settlement compliance: DOJ and SEC NPA obligations require two years of reporting, cooperation, and remediation
Russian medical-device procurement: February 2015 resolution restricts state tenders for foreign companies without local manufacturing
Reimbursement pressure: Protecting Access to Medicare Act of 2014 expected to further reduce clinical laboratory payment rates
International sales exposure: Foreign subsidiaries generated 63% of first-quarter net sales
Debt burden: $435.9 million outstanding indebtedness as of March 31, 2015, plus $200.0 million revolving capacity

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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