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BIO-RAD ANNOUNCES SECOND QUARTER SALES AND EARNINGS

 BIO-RAD ANNOUNCES SECOND QUARTER SALES AND EARNINGS
 HERCULES, Calif., Aug. 5 /PRNewswire/ -- Bio-Rad Laboratories Inc. (AMEX: BIO.A and BIO.B) announced today that earnings per share for the second quarter were $1.07 per share, compared to $0.18 per share in 1991. The 1992 earnings reflect $0.91 per share related to non- recurring items recorded during the second quarter.
 The second quarter results include the following non-operating items: the impact of several legal actions, including a $21.7 million pre-tax gain from the previously announced settlement of an eminent domain action, offset by $2.4 million for the estimated cost of certain unresolved legal disputes; and a $2.2 million net gain from the sale of securities.
 During the quarter, the company also recorded $8.1 million in charges against operating earnings related to the downsizing of certain manufacturing operations. These restructuring activities, combined with the previously announced sale of its Ophthalmic Division, will allow the company to more effectively focus its resources on product lines with higher potential for growth and profitability.
 Sales growth in the company's Life Science and Clinical Diagnostics Groups continued to be strong. Softness in the demand for analytical instruments, however, reduced the consolidated sales growth to 5 percent and resulted in flat operating income, before the restructuring charges.
 Bio-Rad Laboratories is a multi-national manufacturer and distributor of life science research products, clinical diagnostics and analytical instruments based in Hercules.
 OPERATING RESULTS
 (in thousands, except per share data)
 Second Quarter Six Months
 Ended June 30, Ended June 30,
 1992 1991 1992 1991
 Sales $ 80,021 $ 76,503 $ 163,576 $ 153,229
 Income from operations (3,166) 4,934 6,654 13,261
 Net income 8,469 1,426 11,976 5,006
 Earnings per share $ 1.07 $ 0.18 $ 1.51 $ 0.64
 Weighted average shares 7,916 7,870 7,910 7,858
 -0- 8/5/92
 /CONTACT: James L. Viglienzone of Bio-Rad, 510-724-7000, ext. 5697/
 (BIO.A BIO.B) CO: Bio-Rad Laboratories Inc. ST: California IN: MTC SU: ERN


MM -- SF002 -- 6918 08/05/92 08:01 EDT
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Publication:PR Newswire
Date:Aug 5, 1992
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