Bio-rad Laboratories Inc (BIO) Q1 2016 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q1 2016 10-Q quarterly report on May 6, 2016 for the quarter ended Mar 31, 2016.

AI summary of MD&A and risk factor updates

Revenue $471.2M, down 0.3% YoY from $472.8M, currency-neutral growth 3.9%
Net income margin 2.6% vs 3.8%; gross margin 56.0% vs 57.1%
Life Science strongest: sales $165.9M, up 6.4%; Clinical Diagnostics weakest: $301.7M, down 3.8%
Operating cash flow $(7.4)M vs $29.4M; capital expenditures $25.3M vs $27.1M
Outlook: higher 2016 capital expenditures; ERP project cost estimated at $140M to $190M, with economic and government-spending headwinds

Foreign subsidiaries generated 61% of net sales, increasing exposure to complex international compliance requirements and currency fluctuations
ERP third deployment risk, following prior invoicing, manufacturing, and logistics disruptions
FDA enforcement expansion to laboratory-developed tests, potentially delaying customer use of Life Science instruments
Spain, Italy, Greece, and Portugal receivables totaled $42.3 million amid collection delays
Outstanding indebtedness reached approximately $434.3 million, with $200.0 million revolving capacity and covenant constraints

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

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