Bio-Rad Laboratories (BIO) FY2013 results: revenue $2.1 billion, up 3.1% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.1 billion for fiscal 2013, the year ended 31 December 2013, up 3.1% on the year before. Net income was $78 million, down 53.0%, and diluted earnings per share $2.69. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2014.
Revenue
$2.1 billion
+3.1% on the year
FY2008FY2013
Operating margin
7.9%
12.8% a year earlier
FY2008FY2013
Net income
$78 million
-53.0% on the year
FY2008FY2013
Diluted EPS
$2.69
-53.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,133
2,069
2,074
+3.1%
Cost of revenue
954
915
896
+4.3%
Gross profit
1,178
1,154
1,178
+2.1%
Gross margin
55.3%
55.8%
56.8%
Research and development
211
209
178
+0.8%
Selling, general and administrative
798
683
696
+16.9%
Operating income
169
264
305
-35.9%
Operating margin
7.9%
12.8%
14.7%
Interest expense
61.3
51.1
53.1
+19.9%
Pre-tax income
112
230
246
-51.1%
Income tax
34.6
64.4
67.0
-46.3%
Effective tax rate
30.8%
28.0%
27.3%
Net income
77.8
165
179
-53.0%
Net margin
3.6%
8.0%
8.6%
Diluted EPS
$2.69
$5.78
$6.29
-53.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
169
266
263
-36.5%
Capital expenditure
107
143
103
-25.3%
Free cash flow
62.5
124
160
-49.5%
Free cash flow margin
2.9%
6.0%
7.7%
Cash from investing
0.9
-400
-386
Cash from financing
-312
12.6
-214
Depreciation and amortisation
147
130
121
+12.9%
Share-based compensation
13.7
13.2
10.7
+3.8%
Buybacks
0.0
0.1
0.0
Diluted shares, weighted
29m
29m
28m
+0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,187
2,015
1,744
+8.5%
Non-controlling interest
0.0
0.5
0.4
Debt
436
733
732
-40.5%
Other liabilities
766
689
620
+11.3%
Total liabilities and equity
3,389
3,437
3,097
-1.4%
Fixed assets
414
417
350
-0.6%
Goodwill
518
495
469
+4.5%
Intangible assets
266
261
259
+2.0%
Investments
655
751
239
-12.8%
Cash and equivalents
332
463
574
-28.5%
Receivables
423
399
399
+6.0%
Inventory
516
455
434
+13.4%
Other assets
265
195
374
+35.8%
Total assets
3,389
3,437
3,097
-1.4%
10-K for the year ended 31 December 2013, filed 18 March 2014: the filing.