Bio-Rad Laboratories (BIO) FY2015 results: revenue $2.0 billion, down 7.2% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.0 billion for fiscal 2015, the year ended 31 December 2015, down 7.2% on the year before. Net income was $109 million, up 23.0%, and diluted earnings per share $3.71. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$2.0 billion
-7.2% on the year
FY2008FY2015
Operating margin
8.3%
6.9% a year earlier
FY2008FY2015
Net income
$109 million
+23.0% on the year
FY2008FY2015
Diluted EPS
$3.71
+21.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,019
2,175
2,133
-7.2%
Cost of revenue
898
997
954
-9.9%
Gross profit
1,122
1,179
1,178
-4.8%
Gross margin
55.5%
54.2%
55.3%
Research and development
193
220
211
-12.4%
Selling, general and administrative
762
808
798
-5.7%
Operating income
167
150
169
+11.2%
Operating margin
8.3%
6.9%
7.9%
Interest expense
21.7
22.1
61.3
-2.0%
Pre-tax income
146
132
112
+10.9%
Income tax
36.6
42.7
34.6
-14.3%
Effective tax rate
25.1%
32.5%
30.8%
Net income
109
88.8
77.8
+23.0%
Net margin
5.4%
4.1%
3.6%
Diluted EPS
$3.71
$3.05
$2.69
+21.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
186
273
169
-31.9%
Capital expenditure
112
121
107
-7.4%
Free cash flow
74.2
152
62.5
-51.3%
Free cash flow margin
3.7%
7.0%
2.9%
Cash from investing
-167
-191
0.9
Cash from financing
8.6
11.7
-312
-26.6%
Depreciation and amortisation
132
150
147
-12.1%
Share-based compensation
17.0
14.9
13.7
+14.1%
Buybacks
0.0
0.0
0.0
Diluted shares, weighted
29m
29m
29m
+0.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,485
2,185
2,187
+13.7%
Non-controlling interest
5.5
n/a
0.0
Debt
434
436
436
-0.4%
Other liabilities
787
720
766
+9.3%
Total liabilities and equity
3,712
3,341
3,389
+11.1%
Fixed assets
438
429
414
+2.1%
Goodwill
496
500
518
-0.9%
Intangible assets
214
254
266
-15.8%
Investments
1,049
674
655
+55.6%
Cash and equivalents
458
413
332
+10.7%
Receivables
391
378
423
+3.7%
Inventory
490
471
516
+4.1%
Other assets
176
222
265
-20.8%
Total assets
3,712
3,341
3,389
+11.1%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.