Bio-Rad's (BIO) business performance has been affected by Biopharma's softness, macroeconomic conditions in China and competitive pressure. The stock carries a Zacks Rank #4 (Sell). Since the beginning of 2023, Bio-Rad has been witnessing softness in smaller BioPharma companies, where historically, demand for life science products has been strong. This directly correlates with the funding constraints the broader pharmaceutical industry has been experiencing. Management puts forth that BioPharma's softness h ...

HOLMDEL, N.J., Aug. 12, 2024 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of Identity and Access Management and Identity-Bound Biometric solutions, will host its Q2 2024 investor call Thursday, August 15th at 10 a.m. ET. Results will be released after markets close on Wednesday. Mike DePasquale, Chairman & CEO and Cecilia Welch, CFO will lead the conference and Q&A session. Conference Call Details Date / Time: Thursday, August 15th at 10 a.m. ET Call Dial In #: 1-87 ...

MINNEAPOLIS, Aug. 7, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) announced that its Board of Directors has decided to pay a dividend of $0.08 per share for the quarter ended June 30, 2024. The quarterly dividend will be payable August 30, 2024, to all common shareholders of record on August 19, 2024. Future cash dividends will be considered by the Board of Directors on a quarterly basis. Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company providing innovative tools and bio ...

MINNEAPOLIS, Aug. 7, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today reported its financial results for the fourth quarter ending June 30, 2024. Fourth Quarter FY2024 Highlights Fourth quarter organic revenue increased by 1% (2% reported) to $306.1 million. Full year organic revenue increased 1% (2% reported) to $1.2 billion. GAAP earnings per share (EPS) was $0.25 versus $0.47 one year ago. Delivered adjusted EPS of $0.49 compared to $0.55 one year ago. Full year GAAP EPS was $1.05 versus ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, Par Value $0.0001 per share BIO New York Stock Exchange Class B Common Stock, Par Value $0.0001 per share BIO.B New York Stock Exchange For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 ...

Bio-Rad Laboratories, Inc. (BIO) posted second-quarter 2024 adjusted earnings per share (EPS) of $3.11, which beat the Zacks Consensus Estimate by 46.7%. The bottom line increased 3.7% from the prior-year quarter's levels. The quarter's adjustments primarily eliminate the impacts of certain non-recurring items like the amortization of purchased intangibles, restructuring costs and losses from the change in the fair market value of equity securities, among others. The company's GAAP loss was $76.26 per share ...

Bio-Rad Laboratories, Inc. (NYSE:BIO) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Edward Chung - Vice President of Investor Relations Norman Schwartz - Chairman of the Board, President and CEO Andy Last - Executive Vice President and Chief Operating Officer Roop Lakkaraju - Executive Vice President and CFO Conference Call Participants Patrick Donnelly - Citi Daniel Leonard - UBS Tycho Peterson - Jefferies Jack Meehan - Nephron Research Operator Good day, everyone, and wel ...

Bio-Rad Laboratories (BIO) came out with quarterly earnings of $3.11 per share, beating the Zacks Consensus Estimate of $2.12 per share. This compares to earnings of $3 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 46.70%. A quarter ago, it was expected that this maker of instruments used in biomedical research would post earnings of $2.04 per share when it actually produced earnings of $2.29, delivering a surprise of 12.25 ...

Financial Performance - Total net sales for Q2 2024 were $638.5 million, a decrease of 6.3% compared to $681.1 million in Q2 2023[1] - Life Science segment net sales decreased by 16.5% to $250.5 million in Q2 2024, primarily due to weakness in biotech and biopharma markets[2] - Clinical Diagnostics segment net sales increased by 2.1% to $387.9 million in Q2 2024, driven by demand for quality control and blood typing products[2] - The company reported a net loss of $2,165.5 million, or $76.26 per share, in Q2 2024, compared to a net loss of $1,162.3 million, or $39.59 per share, in Q2 2023[5] - Non-GAAP net income for Q2 2024 was $88.5 million, or $3.11 per share, compared to $88.5 million, or $3.00 per share, in Q2 2023[6] - The company expects non-GAAP revenue to decline by approximately 2.5% to 4.0% for the full year 2024, a revision from previous growth estimates[7] Margins and Profitability - Gross margin for Q2 2024 was 55.6%, up from 53.2% in Q2 2023[5] - Non-GAAP operating margin is estimated to be about 12.0% to 13.0% for the full year 2024, down from the prior estimate of 13.5% to 14.0%[19] - Gross profit for Q2 2024 was $355,119, down from $362,483 in Q2 2023, reflecting a gross margin of 55.6%[24] - GAAP gross profit for the latest quarter was $724,900, representing a margin of 53.4%, compared to $681,085 and 54.5% in the previous quarter[31] - Non-GAAP gross profit was $737,231, with a margin of 54.3%, compared to $691,138 and 55.3% in the previous quarter[31] - GAAP income from operations was $151,530, with a margin of 11.2%, compared to $146,204 and 11.7% in the previous quarter[34] - Non-GAAP income from operations was $192,111, representing a margin of 14.1%, compared to $166,065 and 13.3% in the previous quarter[34] Expenses and Losses - Research and development expenses for Q2 2024 were $58,904, a decrease of 9.5% from $65,042 in Q2 2023[24] - The company reported a significant loss from changes in fair market value of equity securities and loan receivable amounting to $2,895,355 in Q2 2024, compared to $1,595,442 in Q2 2023[24] - The company reported restructuring costs of $15,316, significantly higher than $3,707 in the previous quarter[31] - Non-GAAP selling, general and administrative expenses were $410,842, compared to $401,694 in the previous quarter[31] - The company experienced a GAAP loss before income taxes of $1,415,598, compared to a loss of $2,295,203 in the previous quarter[34] - The company reported a GAAP benefit from income taxes of $322,309, compared to $513,633 in the previous quarter[34] - GAAP net loss for the period was $2,165,486, representing a decline of 339.2% compared to the previous period[35] - Non-GAAP net income was $88,516, reflecting a 13.9% increase year-over-year[35] Cash Flow and Assets - Cash provided by operating activities for Q2 2024 was $167,438, a decrease from $196,185 in Q2 2023[28] - Cash and cash equivalents at the end of Q2 2024 were $407,715, up from $390,481 at the end of Q2 2023[28] - Total current assets increased to $3,056,254 as of June 30, 2024, compared to $3,048,330 at the end of 2023[26] - Total liabilities decreased to $2,909,659 as of June 30, 2024, down from $3,557,937 at the end of 2023[26] Shareholder Actions - Bio-Rad's board authorized an increase of $500 million to the 2023 Share Repurchase Program, bringing the total available for repurchases to approximately $578 million[8] Other Financial Metrics - Adjusted EBITDA reached $138,208, showing a growth of 21.6% compared to the prior year[35] - The diluted loss per share under GAAP was $(76.26), while the non-GAAP diluted income per share was $3.11[35] - The company experienced a foreign currency exchange loss of $1,699 during the reporting period[35] - The weighted average shares used in the non-GAAP net income per share calculation were 28,395[35] - The company does not provide a reconciliation of non-GAAP financial expectations to GAAP measures due to the unpredictability of future charges[37]

With the second-quarter earnings season in full swing, it's going to be a pivotal week for numerous firms within the medical device sector. The latest Earnings Preview report indicates strong earnings and revenue growth within the Medical sector. The top and bottom-line improvements are likely to have been due to sustained demand for medical products and services and favorable pricing strategies, which might have offset the burden of increased costs and interest expenses stemming from worldwide geopolitical ...