Bio-Rad Reports Flat Q4 Sales as Thermal Cycler Injunction Took Its Toll

NEW YORK, Feb. 23 (GenomeWeb News) - Bio-Rad yesterday said that fourth-quarter net sales were flat, with $307.3 million for the period ended Dec. 31, compared to $307.9 in the year-ago period.

Net sales show a 2.9-percent rise from the similar period in 2004 when earnings are adjusted for currency-exchange effects, the company said.

The company's Life Science segment experienced a 5.3-percent drop in net sales, which fell to $140.7 million from $148.6 million in the fourth quarter of 2004. Bio-Rad attributed the decline to an injunction that halted the sale and manufacture of its MJ Research thermal cyclers..

Bio-Rad's Clinical Diagnostics segment reported net sales of $162.9 million for the period ended Dec. 31, a rise of 4 percent year over year.

R&D expenses remained nearly unchanged at $31.9 million for the current period, versus $31.1 million in the year-ago period.

Net income decreased to $13.5 million in the fourth quarter from $17.1 million in 2004.

The company had around $296.7 million in cash and equivalents as of Dec. 31.