Revenue during the quarter grew 8.25 percent to $508.74 million from $469.96 million in the previous year period. Gross margin for the quarter contracted 113 basis points over the previous year period to 54.93 percent. Total expenses were 94.48 percent of quarterly revenues, up from 93.05 percent for the same period last year. That has resulted in a contraction of 143 basis points in operating margin to 5.52 percent.

Operating income for the quarter was $28.09 million, compared with $32.67 million in the previous year period.

"We are pleased with a strong sales performance in the third quarter, in particular, our life science business, with nearly 20 percent currency-neutral growth," said Norman Schwartz, BioRad president and chief executive officer. "Continued investments in our operations have affected profitability for the first nine months of the year, but these investments are necessary to support our growth."

The company has spent $163.76 million cash to meet investing activities during the nine month period as against cash outgo of $83.09 million in the last year period.

Cash flow from financing activities was $6.19 million for the nine month period, up 27.57 percent or $1.34 million, when compared with the last year period.

Cash and cash equivalents stood at $417.94 million as on Sep. 30, 2016, down 17.62 percent or $89.39 million from $507.33 million on Sep. 30, 2015.

Working capital increases marginally
Bio-Rad Laboratories, Inc. has recorded an increase in the working capital over the last year. It stood at $1,407.38 million as at Sep. 30, 2016, up 3.55 percent or $48.20 million from $1,359.18 million on Sep. 30, 2015. Current ratio was at 4.18 as on Sep. 30, 2016, up from 4.12 on Sep. 30, 2015.

Days sales outstanding went down to 65 days for the quarter compared with 68 days for the same period last year.

Days inventory outstanding has decreased to 112 days for the quarter compared with 226 days for the previous year period.