Bio-Rad Laboratories (BIO) FY2012 results: revenue $2.1 billion, down 0.2% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.1 billion for fiscal 2012, the year ended 31 December 2012, down 0.2% on the year before. Net income was $165 million, down 7.6%, and diluted earnings per share $5.78. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2013.
Revenue
$2.1 billion
-0.2% on the year
FY2008FY2012
Operating margin
12.8%
14.7% a year earlier
FY2008FY2012
Net income
$165 million
-7.6% on the year
FY2008FY2012
Diluted EPS
$5.78
-8.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,069
2,074
1,927
-0.2%
Cost of revenue
915
896
836
+2.2%
Gross profit
1,154
1,178
1,091
-2.0%
Gross margin
55.8%
56.8%
56.6%
Research and development
209
178
172
+17.8%
Selling, general and administrative
683
696
635
-1.9%
Operating income
264
305
284
-13.5%
Operating margin
12.8%
14.7%
14.7%
Interest expense
51.1
53.1
63.7
-3.8%
Pre-tax income
230
246
220
-6.5%
Income tax
64.4
67.0
33.3
-4.0%
Effective tax rate
28.0%
27.3%
15.1%
Net income
165
179
185
-7.6%
Net margin
8.0%
8.6%
9.6%
Diluted EPS
$5.78
$6.29
$6.59
-8.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
266
263
226
+1.4%
Capital expenditure
143
103
88.5
+38.9%
Free cash flow
124
160
137
-22.7%
Free cash flow margin
6.0%
7.7%
7.1%
Cash from investing
-400
-386
-217
Cash from financing
12.6
-214
229
Depreciation and amortisation
130
121
109
+7.8%
Share-based compensation
13.2
10.7
10.2
+23.4%
Buybacks
0.1
0.0
0.0
Diluted shares, weighted
29m
28m
28m
+0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,015
1,744
1,537
+15.5%
Non-controlling interest
0.5
0.4
3.8
+20.2%
Debt
733
732
964
+0.0%
Other liabilities
689
620
558
+11.0%
Total liabilities and equity
3,437
3,097
3,063
+11.0%
Fixed assets
417
350
334
+19.3%
Goodwill
495
469
364
+5.6%
Intangible assets
261
259
204
+0.6%
Investments
751
239
119
+214.5%
Cash and equivalents
463
574
907
-19.3%
Receivables
399
399
n/a
+0.0%
Inventory
455
434
398
+5.0%
Other assets
195
374
738
-47.8%
Total assets
3,437
3,097
3,063
+11.0%
10-K for the year ended 31 December 2012, filed 18 March 2013: the filing.