Bio-Rad Laboratories (BIO) FY2017 results: revenue $2.2 billion, up 4.4% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.2 billion for fiscal 2017, the year ended 31 December 2017, up 4.4% on the year before. Net income was $122 million, up 370.2%, and diluted earnings per share $4.07. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2019.
Revenue
$2.2 billion
+4.4% on the year
FY2010FY2017
Operating margin
5.5%
2.7% a year earlier
FY2010FY2017
Net income
$122 million
+370.2% on the year
FY2010FY2017
Diluted EPS
$4.07
+362.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,160
2,068
2,019
+4.4%
Cost of revenue
972
930
898
+4.6%
Gross profit
1,187
1,138
1,122
+4.3%
Gross margin
55.0%
55.0%
55.5%
Research and development
250
206
193
+21.6%
Selling, general and administrative
807
815
762
-1.0%
Operating income
119
55.7
167
+114.0%
Operating margin
5.5%
2.7%
8.3%
Interest expense
23.0
23.4
21.7
-1.6%
Pre-tax income
97.8
41.6
146
+135.3%
Income tax
-24.4
15.6
36.6
Effective tax rate
-25.0%
37.4%
25.1%
Net income
122
26.0
109
+370.2%
Net margin
5.7%
1.3%
5.4%
Diluted EPS
$4.07
$0.88
$3.71
+362.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
104
216
186
-51.9%
Capital expenditure
111
141
112
-21.3%
Free cash flow
-7.2
75.0
74.2
Free cash flow margin
-0.3%
3.6%
3.7%
Cash from investing
-176
-214
-167
Cash from financing
0.3
9.0
8.6
-96.2%
Depreciation and amortisation
149
143
132
+4.1%
Share-based compensation
23.4
19.7
17.0
+18.8%
Buybacks
2.9
0.0
0.0
Diluted shares, weighted
30m
30m
29m
+1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,930
2,579
2,485
+13.6%
Non-controlling interest
n/a
n/a
5.5
Debt
435
434
434
+0.1%
Other liabilities
908
837
787
+8.5%
Total liabilities and equity
4,273
3,851
3,712
+11.0%
Fixed assets
493
489
438
+1.0%
Goodwill
506
477
496
+6.1%
Intangible assets
174
162
214
+7.7%
Investments
1,399
1,214
1,049
+15.2%
Cash and equivalents
384
456
458
-15.9%
Receivables
465
372
391
+24.8%
Inventory
595
525
490
+13.3%
Other assets
257
156
176
+65.1%
Total assets
4,273
3,851
3,712
+11.0%
10-K for the year ended 31 December 2017, filed 1 April 2019: the filing.