Bio-Rad Laboratories, Inc. (BIO) is gaining investors' confidence due to its Digital PCR business, which boasts a strong pipeline. The company's Clinical Diagnostics arm is seeing increased demand for quality control, blood typing and diabetes products. Sound financial stability also appears encouraging. However, pricing pressure due to tough competition, along with adverse macroeconomic impacts, might deter Bio-Rad's growth. Persistent reduced demand in the Biopharma segment adds to the worry. Year to date ...

HOLMDEL, N.J. , Aug. 15, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) software featuring passwordless, phoneless and token-less Identity-Bound Biometrics (IBB) authentication solutions, announced the availability of its PortalGuard IDaaS platform in the Amazon Web Services (AWS) Marketplace enabling AWS customers around the world to seamlessly purchase and integrate PortalGuard and its IBB authenti ...

HOLMDEL, N.J., Aug. 14, 2024 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication, announced results for its second quarter ended June 30, 2024 (Q2'24). Note, BIO-key's results for 2023 were restated at year-end and filed with the Company's 2023 Form 10-K, and as a result Q2'23 and six months ended June 30, ...

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 ...

Financial Data and Key Metrics Changes - Net sales for Q2 2024 were $638 million, a decline of 6.3% from $681 million in Q2 2023, with a currency-neutral decline of 5.4% [14] - The reported GAAP gross margin increased to 55.6% from 53.2% in Q2 2023, driven by cost control initiatives and product mix [16] - Non-GAAP net income for Q2 2024 was $89 million or $3.11 diluted earnings per share, compared to $89 million or diluted earnings per share of $0.03 in Q2 2023 [20] Business Line Data and Key Metrics Changes - Life Science Group sales were approximately $251 million, a decrease of 16.5% on a reported basis and 15.9% on a currency-neutral basis compared to Q2 2023 [14] - Clinical Diagnostics Group sales increased to $388 million, up 2.1% on a reported basis and 3.2% on a currency-neutral basis year-over-year [15] - Excluding process chromatography sales, core Life Science Group revenue decreased 11.6% on a currency-neutral basis [14] Market Data and Key Metrics Changes - The clinical diagnostics business showed steady growth across all regions, while the Life Science Group experienced a double-digit decline year-over-year due to low demand in biotech and biopharma, particularly in China [9][12] - The company anticipates normalized growth in clinical diagnostics for the second half of 2024, while the Life Science Group is expected to decline by 10% to 12% currency-neutral for the full year [23][24] Company Strategy and Development Direction - The company is focused on maintaining leadership in clinical diagnostics and investing in new molecular diagnostics segments, while also enhancing its position in digital PCR and academic markets [7] - A corporate transformation path is underway, with efforts in supply chain and core process improvements contributing to margin expansion [6] - The company plans to continue opportunistic share repurchases, having authorized an additional $500 million for buybacks [22] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging market environment but expressed confidence in long-term growth, particularly in clinical diagnostics and life sciences [4][12] - The company revised its full-year 2024 financial outlook to reflect a more modest pace of market recovery than initially predicted [4] - Management remains cautious about the recovery in life science markets, particularly in China, and expects steady growth in clinical diagnostics [13] Other Important Information - The company repurchased $100 million of its stock during Q2 and an additional $96 million in July 2024 [22] - A one-time in-process R&D charge of approximately $30 million is anticipated in Q3 or by the end of 2024 [25] Q&A Session Summary Question: What drove the strength in Q2 margins and the expectations for the second half? - Management indicated that Q2 margin strength was due to product mix and cost initiatives, but they expect more under-absorption in the second half [26][27] Question: What is the outlook for process chromatography? - Management noted ongoing destocking by large customers and expects recovery in 2025, with a cautious view on process chromatography for the remainder of the year [30][31] Question: How is the digital PCR market performing? - Management reported stable demand for digital PCR consumables and expects second-half strength, despite a tough comparison to the previous year [34][35] Question: How does the company view the operating environment and guidance? - Management believes they have framed the operating environment appropriately, with cautious optimism for clinical diagnostics and a conservative outlook for life sciences [36][37] Question: What is the strategy for the single-cell product launched in June? - The company aims to establish product performance and credibility in key labs, with expectations for solid long-term growth in the single-cell market [39][40] Question: Why not a larger buyback? - Management indicated that the $500 million authorization reflects a strong message from the Board, considering their balance sheet and cash position [42] Question: What are the thoughts on inventory levels? - Management acknowledged that inventory levels are bloated but are focused on reducing them through operational improvements [51][52]