Bio-Rad Revenues Rise as Company Reaches $1 Billion Mark

NEW YORK, Feb. 13 (GenomeWeb News) - Bio-Rad Laboratories of Hercules, Calif. reported a 9.5 percent increase in revenue in the fourth quarter of 2003 as it reached the $1 billion mark for full-year sales.

Bio-Rad reported $266.2 million in fourth-quarter revenue, up from $243 million in the year-ago period. Revenues for the Life Sciences segment in the quarter were $130.2 million, up 6.6 percent year-over-year. Net income rose by 12.2 percent from $67.9 million, or $2.70 per share, in Q4 2002; to $76.2 million, or $3.00 per share, in Q4 2003.

R&D expenses for the fourth quarter rose as well, from $22.9 million in 2002 to $26.4 million in 2003.

As of Dec. 31, 2002, Bio-Rad had cash and cash equivalents of $148.6 million.