Bio-Rad Laboratories (BIO) FY2016 results: revenue $2.1 billion, up 2.4% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.1 billion for fiscal 2016, the year ended 31 December 2016, up 2.4% on the year before. Net income was $26 million, down 76.2%, and diluted earnings per share $0.88. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2019.
Revenue
$2.1 billion
+2.4% on the year
FY2009FY2016
Operating margin
2.7%
8.3% a year earlier
FY2009FY2016
Net income
$26 million
-76.2% on the year
FY2009FY2016
Diluted EPS
$0.88
-76.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,068
2,019
2,175
+2.4%
Cost of revenue
930
898
997
+3.6%
Gross profit
1,138
1,122
1,179
+1.5%
Gross margin
55.0%
55.5%
54.2%
Research and development
206
193
220
+6.7%
Selling, general and administrative
815
762
808
+6.9%
Operating income
55.7
167
150
-66.6%
Operating margin
2.7%
8.3%
6.9%
Interest expense
23.4
21.7
22.1
+7.8%
Pre-tax income
41.6
146
132
-71.5%
Income tax
15.6
36.6
42.7
-57.5%
Effective tax rate
37.4%
25.1%
32.5%
Net income
26.0
109
88.8
-76.2%
Net margin
1.3%
5.4%
4.1%
Diluted EPS
$0.88
$3.71
$3.05
-76.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
216
186
273
+16.2%
Capital expenditure
141
112
121
+26.3%
Free cash flow
75.0
74.2
152
+1.1%
Free cash flow margin
3.6%
3.7%
7.0%
Cash from investing
-214
-167
-191
Cash from financing
9.0
8.6
11.7
+5.1%
Depreciation and amortisation
143
132
150
+8.4%
Share-based compensation
19.7
17.0
14.9
+15.9%
Buybacks
0.0
0.0
0.0
Diluted shares, weighted
30m
29m
29m
+0.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,579
2,485
2,185
+3.8%
Non-controlling interest
n/a
5.5
n/a
Debt
434
434
436
+0.1%
Other liabilities
837
787
720
+6.4%
Total liabilities and equity
3,851
3,712
3,341
+3.7%
Fixed assets
489
438
429
+11.6%
Goodwill
477
496
500
-3.8%
Intangible assets
162
214
254
-24.5%
Investments
1,214
1,049
674
+15.8%
Cash and equivalents
456
458
413
-0.3%
Receivables
372
391
378
-4.9%
Inventory
525
490
471
+7.1%
Other assets
156
176
222
-11.6%
Total assets
3,851
3,712
3,341
+3.7%
10-K for the year ended 31 December 2016, filed 1 April 2019: the filing.