Essay: Business profile of Bio-Rad
Bio-Rad operates in two segments, Life sciences and Clinical diagnostics, serving customers worldwide. Year 2010 witnessed an 8% growth in sales over the previous year showing net sales of $1.9 billion with 34% sales from Life sciences and 66 % from clinical diagnostics. USA served to be the highest revenue provider, with 31% sales from USA and 69% from the rest of the world.
Its gross profit has increased by 9.17% which is a healthy sign for the company. Its R&D expenditure has increased to 5.31% which shows its continuous effort for innovation and development. Its EPS is also increased by 26.89%. Thus company has a strong financial position.
Bio-Rad holds a number of patents both in USA and internationally which provide a broader base of service quality and product innovation (Bio-Rad Laboratories, 2011).
Major competitors of Bio-Rad include GE Biosciences, Life Technologies, Millipore and Thermo Fisher Scientific, Roche, Abbott Laboratories (Diagnostic Division), Siemens Medical Diagnostics Solutions, Beckman Coulter, Becton-Dickinson etc. (Bio-Rad Laboratories, 2011)