Bio-Rad Laboratories (BIO) FY2018 results: revenue $2.3 billion, up 6.0% on the year
Bio-Rad Laboratories, Inc. (BIO) reported revenue of $2.3 billion for fiscal 2018, the year ended 31 December 2018, up 6.0% on the year before. Net income was $366 million, up 199.1%, and diluted earnings per share $12.10. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2019.
Revenue
$2.3 billion
+6.0% on the year
FY2011FY2018
Operating margin
-4.5%
5.5% a year earlier
FY2011FY2018
Net income
$366 million
+199.1% on the year
FY2011FY2018
Diluted EPS
$12.10
+197.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,289
2,160
2,068
+6.0%
Cost of revenue
1,066
972
930
+9.6%
Gross profit
1,223
1,187
1,138
+3.0%
Gross margin
53.4%
55.0%
55.0%
Research and development
199
250
206
-20.4%
Selling, general and administrative
835
807
815
+3.5%
Operating income
-103
119
55.7
Operating margin
-4.5%
5.5%
2.7%
Interest expense
24.0
23.0
23.4
+4.1%
Pre-tax income
513
97.8
41.6
+424.2%
Income tax
147
-24.4
15.6
Effective tax rate
28.7%
-25.0%
37.4%
Net income
366
122
26.0
+199.1%
Net margin
16.0%
5.7%
1.3%
Diluted EPS
$12.10
$4.07
$0.88
+197.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
285
104
216
+174.2%
Capital expenditure
130
111
141
+16.6%
Free cash flow
156
-7.2
75.0
Free cash flow margin
6.8%
-0.3%
3.6%
Cash from investing
-187
-176
-214
Cash from financing
-48.7
0.3
9.0
Depreciation and amortisation
138
149
143
-7.1%
Share-based compensation
27.8
23.4
19.7
+18.8%
Buybacks
48.9
2.9
0.0
+1,575.1%
Diluted shares, weighted
30m
30m
30m
+0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,020
2,930
2,579
+37.2%
Debt
439
435
434
+1.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,152
908
837
+26.8%
Total liabilities and equity
5,611
4,273
3,851
+31.3%
Fixed assets
509
493
489
+3.1%
Goodwill
220
506
477
-56.6%
Intangible assets
133
174
162
-23.5%
Investments
3,069
1,399
1,214
+119.4%
Cash and equivalents
432
384
456
+12.4%
Receivables
392
465
372
-15.6%
Inventory
584
595
525
-1.8%
Other assets
273
257
156
+6.1%
Total assets
5,611
4,273
3,851
+31.3%
10-K for the year ended 31 December 2018, filed 1 April 2019: the filing.