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BIO-RAD ANNOUNCES 1992 RESULTS

 HERCULES, Calif., Feb. 12 /PRNewswire/ -- Bio-Rad Laboratories Inc. (AMEX: BIO.A and BIO.B) reported that sales increased 6 percent to $330.3 million for the year ended Dec. 31, 1992, despite a $7.9-million decrease in year over year sales from the elimination of certain product lines. During 1992 the company restructured some of its businesses including the sale or discontinuation of product lines which were unprofitable or did not fit Bio-Rad's growth objectives. These changes resulted in charges of $9.0 million to operating income. Excluding restructuring costs, income from operations increased slightly in 1992. Earnings per share for the year increased to $1.96 as compared with $1.04 in the prior year. This increase includes a pre-tax gain of $21.6 million from the settlement of an eminent domain action with the State of California.
 Sales were $88.1 million for the fourth quarter of 1992, an increase of 7 percent over the prior year. Income from operations was reduced by $0.9 million for costs associated with staff reductions. Excluding restructuring costs, income from operations increased 11 percent over the prior year. Net income was $1.3 million or 17 cents per share, compared to 19 cents per share in the prior year. The lower earnings per share in 1992 were the result of higher investment income in 1991 versus 1992.
 Bio-Rad Laboratories is a multinational manufacturer and distributor of life science research products, clinical diagnostics and analytical instruments, based in Hercules.
 BIO-RAD LABORATORIES INC.
 OPERATING RESULTS
 (in thousands, except per share data)
 Fourth Quarter 12 Months
 Ended Dec. 31, Ended Dec. 31,
 1992 1991 1992 1991
 Sales $ 88,116 $ 82,347 $ 330,301 $ 310,669
 Restructuring costs (900) (1,290) (9,023) (1,290)
 Income from operations 4,611 3,671 14,516 22,128
 Net income 1,345 1,476 15,554 8,154
 Earnings per share $0.17 $0.19 $1.96 $1.04
 Weighted average shares 7,946 7,889 7,924 7,871
 -0- 2/12/93
 /CONTACT: James L. Viglienzone, treasurer of Bio-Rad, 510-724-5697/
 (BIO.A BIO.B)


CO: Bio-Rad Laboratories Inc. ST: California IN: MTC SU: ERN

SG -- SF003 -- 6018 02/12/93 08:01 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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