Bio-rad Laboratories Inc (BIO) Q3 2015 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q3 2015 10-Q quarterly report on Nov 5, 2015 for the quarter ended Sep 30, 2015.

AI summary of MD&A and risk factor updates

Q3 revenue $470.0M, down 11.4% YoY from $530.6M; currency-neutral decline 2.2%
Gross margin 56.1% vs 54.4% YoY; net margin 3.7% vs 2.2%
Best segment: Clinical Diagnostics revenue $316.2M, currency-neutral decline 0.5%; worst: Life Science, down 13.0% to $150.4M
Nine-month operating cash flow $150.3M vs $233.1M; cash, equivalents and short-term investments $786.1M
ERP implementation disrupted shipments; capital expenditures $84.0M, with future ERP costs projected at $150M to $200M

FCPA settlement compliance: Two-year DOJ and SEC reporting obligations, with noncompliance risking further government action and third-party claims
FDA warning letter: February 2015 Munich audit findings, with remediation reply submitted in September 2015
ERP deployment disruption: July 2015 rollout delayed manufacturing and logistics, impacting sales
International concentration: Foreign subsidiaries generated 62% of net sales in the first nine months of 2015
Debt burden: Approximately $436.1 million outstanding indebtedness as of September 30, 2015

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

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