BIO-RAD ANNOUNCES THIRD QUARTER SALES AND EARNINGS
BIO-RAD ANNOUNCES THIRD QUARTER SALES AND EARNINGS SAN FRANCISCO, Nov. 6 /PRNewswire/ -- Bio-Rad Laboratories Inc.
(AMEX: BIO.A and BIO.B) announced today that earnings per share for the third quarter were 21 cents; an increase of one cent from the 20 cents recorded in 1990. Although sales for the quarter increased only 8 percent, operating earnings increased 22 percent, primarily reflecting improved gross margin. Improvements in operating earnings were reduced by increases in non-operating costs during the quarter, including currency translation losses. Year-to-date earnings per share were 85 cents, compared to 93 cents in 1990.
Sales for the quarter increased in two of the company's three business segments, Life Science (formerly Research Products) and Diagnostics. Life Science sales were up 15 percent and Diagnostics 10 percent. Sales in the company's third segment, Analytical Instruments, have been adversely impacted by the general slow-down in capital spending, particularly within the semiconductor industry, both in the United States and Japan. Year-to-date company sales are up almost 11 percent. Given the uncertainty in the worldwide economy and its impact upon sales, continued emphasis on cost control will be critical to maintaining profitability for the remainder of 1991 and into 1992. Bio-Rad laboratories is a multinational manufacturer and distributor of life science research products, clinical diagnostics and analytical instruments, based in Hercules, Calif. OPERATING RESULTS (in thousands, except per share data) Third Quarter Nine Months Ended Sept. 30, Ended Sept. 30, 1991 1990 1991 1990 Sales $ 75,093 $ 69,510 $228,322 $206,382 Income from operations 5,196 4,255 18,457 16,280 Net income $ 1,672 $ 1,589 $ 6,678 $ 7,302 Earnings per share $0.21 $0.20 $0.85 $0.93 Weighted average shares 7,879 7,850 7,865 7,829 -0- 11/6/91 /CONTACT: James L. Viglienzone of Bio-Rad Laboratories Inc., 415-724-7000 x5697/ (BIO.A, BIO.B) CO: Bio-Rad Laboratories, Inc. ST: California IN: MTC SU: ERN DB -- SF002 -- 1525 11/06/91 08:04 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 6, 1991|
|Previous Article:||LARSON-DAVIS ANNOUNCES PARTICIPATION IN LONDON AIRPORT PROJECT|
|Next Article:||MOLECULAR BIOSYSTEMS ACQUIRES LICENSE TO CT IMAGING AGENT TECHNOLOGY|