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Bio-Rad Q3 Revenues Rise 8 Percent as Profit Surges 43 Percent

NEW YORK (GenomeWeb News) — Bio-Rad Laboratories today said third-quarter revenues increased 8 percent as R&D spending rose 8 percent and profit increased 43 percent.
 
Total receipts for the three months ended Sept. 30 increased to $305 million from $283 million year over year.
 
Revenue from the company’s Life Science division was up 4 percent to $137 million from $132 million while receipts from the Clinical Diagnostics segment jumped 11 percent to $164 million from $148 million year over year.
 
Bio-Rad said increased sales in Life Science came from first orders of its new Protein Array Interaction System, and the growth in its Clinical Diagnostics was “across all product lines.”
 
R&D spending increased to $31 million from $29 million year over year.
 
The company said third-quarter profit increased to $23.1 million from $16.2 million in the year-ago period.
 
Bio-Rad said it had around $481.5 million in cash, cash equivalents, and short-term investments as of Sept. 30.
 
Yesterday, GenomeWeb News reported that Bio-Rad’s impending acquisition of Ciphergen’s proteomics tool business has been delayed. In a statement, Bio-Rad said the acquisition "is in the process of being completed."

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