Second-quarter revenues from continuing operations were $317.7 million, up 9.1% compared to the $291.3 million reported for the second quarter of 2005
Bio-Rad Laboratories announced financial results for the second quarter ended June 30, 2006.
Included in this figure is one-time additional revenue of $11.7 million resulting from a licensing settlement agreement reached with Biomerieux, which had a favorable impact on both the second quarter and year-to-date figures for 2006.
On a currency-neutral basis, revenues increased 9.7% compared to the same period last year or 5.6% excluding the settlement.
This sales increase was the result of growth across product areas in both the life science and clinical diagnostics segments.
Income from continuing operations for the quarter was $32.3 million compared to $18.4 million during the second quarter last year.
At 58.1%, second-quarter gross margin from continuing operations was markedly higher than the 55.1% reported for the second quarter of 2005.
Excluding the impact of the Biomerieux settlement, gross margin was 56.5%.
Year-to-date revenues from continuing operations grew by 6.0% to $626.1 million compared to the same period last year.
Normalizing for the impact of currency effects, growth was 9.0%.
Income from continuing operations increased by 32.5% to $63.5 million, or $2.41 per share compared to $47.9 million, or $1.85 per share, for the first six months of 2005.
Year-to-date gross margin was 57.5% compared to 55.4% in the same period last year.
