Bio-rad Laboratories Inc (BIO) Q1 2018 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q1 2018 10-Q quarterly report on May 10, 2018 for the quarter ended Mar 31, 2018.

AI summary of MD&A and risk factor updates

Revenue $551.5M, up 10.3% YoY from $500.1M, with currency-neutral growth of 4.5%
Life Science strongest segment: sales $197.8M, up 13.5% YoY; Clinical Diagnostics sales $350.8M, up 8.9%
Gross margin 54.8% vs 54.0% YoY; Clinical Diagnostics margin declined 1.5 percentage points
Operating cash flow $40.3M vs $(56.2)M YoY; capital expenditures $27.2M vs $39.3M
Outlook: government funding, reimbursement constraints, sovereign spending cuts and currency volatility as emerging headwinds

Newly heightened regulatory risk: EU General Data Protection Regulation compliance effective May 25, 2018
Internal-control risk: material weakness persisted after European ERP conversion, with remediation targeted for 2018
Operational risk: ERP deployment issues delayed manufacturing, logistics, invoicing and product shipments
Market risk: foreign subsidiaries generated 62% of net sales, increasing exposure to currency fluctuations
Financial risk: approximately $435.0 million outstanding debt and $200.0 million revolving facility subject to covenants

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

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