Bio-rad Laboratories Inc (BIO) Q3 2018 10-Q Quarterly Earnings

Short answer

Bio-rad Laboratories Inc (BIO) filed its Q3 2018 10-Q quarterly report on Nov 5, 2018 for the quarter ended Sep 30, 2018.

AI summary of MD&A and risk factor updates

Q3 revenue $545.1M, up 2.1% YoY from $534.1M, currency-neutral growth 3.4%
Life Science revenue $206.6M, up 7.1%; Clinical Diagnostics $334.0M, down 1.2%
Gross margin 52.6% vs 56.0%; SG&A margin 36.9% vs 37.1%; R&D margin 9.0% vs 11.6%
Cash, equivalents and short-term investments $860.6M; nine-month operating cash flow $180.5M vs $34.8M
Headwinds: uncertain government funding, international trade disputes, regulation and potential slower growth; Credit Agreement renewal under evaluation

Newly heightened compliance risk: EU General Data Protection Regulation effective May 25, 2018
Financial reporting weakness: ineffective controls as of September 30, 2018, remediation expected through 2018
Regulatory risk: Tax Act provisional amounts may materially change as guidance clarifies transition tax, GILTI and BEAT
Operational risk: ERP deployment issues previously delayed manufacturing, logistics, invoicing and product shipments
Financial risk: $440.6 million outstanding debt and $200.0 million revolving facility, with $0.5 million used for standby letters of credit

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

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