Bio-Rad Laboratories, Inc. (AMEX: BIO) (AMEX: BIOb), a multinational manufacturer and distributor of life science research products and clinical diagnostics, announced financial results today for the second quarter ended June 30, 2006. 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. Included in this figure is one-time additional revenue of $11.7 million resulting from a licensing settlement agreement reached with bioMérieux, 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 bioMérieux settlement, gross margin was 56.5%.
