![]() The effective tax rate reported in Q1 of 2022 was primarily affected by an unrealized loss in equity securities. The effective tax rate reported in Q1 2023 was primarily affected by geographical mix of earnings. The effective tax rate for the first quarter of 2023 was 18.7 percent, compared to 22.9 percent for the same period in 2022. Net income (loss) amounts for the first quarter of 20 were primarily impacted by the recognition of changes in the fair market value of equity securities related to the holdings of the company’s investment in Sartorius AG. Net income for the first quarter of 2023 was $69 million, or $2.32 per share, on a diluted basis, versus a net loss of $3,367 million, or $112.50 per share, on a diluted basis, during the same period in 2022. Income from operations during the first quarter of 2023 was $61.9 million versus $146.4 million during the same quarter last year. Excluding COVID-related sales, Clinical Diagnostics revenue increased 3.1 percent year over year, on a currency-neutral basis, driven by strong demand for diagnostic instruments.įirst-quarter gross margin was 53.5 percent compared to 57.5 percent during the first quarter of 2022. On a currency-neutral basis, net sales increased 2.8 percent versus the same quarter last year. Excluding COVID-related sales, Life Science revenue grew 9.6 percent and was primarily driven by qPCR, western blotting, and Droplet Digital™ PCR products.Ĭlinical Diagnostics segment net sales for the first quarter were $352.1 million, or essentially flat when compared to the same period in 2022. On a currency-neutral basis, Life Science segment sales decreased by 3.6 percent compared to the same quarter in 2022. Life Science segment net sales for the first quarter were $323.6 million, a decrease of 6.8 percent compared to the same period in 2022. Excluding COVID-related sales, revenue increased 6.1 percent on a currency-neutral basis. COVID-related sales were $2.6 million in the first quarter of 2023 versus approximately $45 million in the year ago period. On a currency-neutral basis, quarterly sales decreased 0.3 percent compared to the same period in 2022. (NYSE: BIO and BIOb), a global leader in life science research and clinical diagnostic products, today announced financial results for the first quarter ended March 31, 2023.įirst-quarter 2023 net sales were $676.8 million, a decrease of 3.3 percent compared to $700.1 million reported for the first quarter of 2022.
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