Bio-Rad(BIO) - 2025 Q1 - Quarterly Report

Financial Performance - Net sales for Q1 2025 were $585.4 million, a decrease of 4.2% from$ 610.8 million in Q1 2024[117] - Life Science segment sales decreased by 5.4% to $228.6 million in Q1 2025, with a currency neutral decrease of 3.5%[118] - Clinical Diagnostics segment sales decreased by 3.2% to$ 356.8 million in Q1 2025, with a currency neutral decrease of 0.1%[119] - Consolidated gross margin for Q1 2025 was 52.3%, down from 53.4% in Q1 2024[120] Expenses - SG&A expenses for Q1 2025 were $208.8 million, or 35.7% of sales, compared to$ 214.9 million, or 35.2% of sales in Q1 2024[121] - R&D expenses for Q1 2025 were $73.5 million, or 12.6% of sales, up from$ 66.4 million, or 10.9% of sales in Q1 2024[122] Cash Flow and Investments - Net cash provided by operations increased to $129.9 million in Q1 2025 from$ 69.8 million in Q1 2024[131] - The company had $1.66 billion in cash, cash equivalents, and short-term investments as of March 31, 2025[129] Tax and Shareholder Returns - The effective income tax rate was 23.3% for Q1 2025, compared to 21.8% for Q1 2024[127] - The company repurchased 399,295 shares of Class A common stock for$ 100.9 million under the 2023 Share Repurchase Program[135]