Bio-rad Laboratories Inc (BIO) Q2 2015 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q2 2015 10-Q quarterly report on Aug 7, 2015 for the quarter ended Jun 30, 2015.

AI summary of MD&A and risk factor updates

Q2 revenue $506.1M, down 5.7% YoY from $536.8M, currency-neutral growth 4.2%
Gross margin 55.2% vs 55.4% YoY; net margin 5.6% vs 5.9%
Life Science sales $170.6M, up 0.2%; Clinical Diagnostics $332.1M, down 8.5%
Cash, equivalents and short-term investments $727.6M; operating cash flow $68.0M vs $142.4M
ERP investment drove $59.3M capital expenditures; future project cost $150M to $200M

ERP deployment launched July 2015, with prior invoicing problems and increased receivables raising near-term execution risk
FCPA settlement compliance, two-year DOJ and SEC reporting obligations with potential additional investigations
Medical-device regulation, Russia’s February 2015 tender restrictions limiting foreign-company access without local manufacturing
Competitive pricing pressure, multi-year public tenders reducing annual participation opportunities
Debt burden, $435.9 million outstanding and $200.0 million revolving facility subject to leverage and interest-coverage covenants

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

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