Bio-Rad Q4 Profit Declines, But Revenues Beat View - Quick Facts

(RTTNews) - Bio-Rad Laboratories, Inc. (BIO) Thursday reported fourth-quarter net income of $30.1 million or $1.04 per share, down from $43.3 million or $1.51 per share in the same period last year.

These results included an accrued expense of $15 million in connection with Bio-Rad's efforts to resolve the previously disclosed investigation of the company in connection with the United States Foreign Corrupt Practices Act; this is in addition to an accrued expense of $20 million in the third quarter of 2013.

On average, analysts polled by Thomson Reuters expected the company to earn $1.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose 5 percent to $602.6 million from $573.8 million in the same period last year. Analysts had a consensus revenue estimate of $586.87 million.

These results included $6.0 million of sales resulting from the company's acquisition of AbD Serotec in January 2013. On a currency-neutral basis, quarterly revenues increased 5.7 percent.