BIO - Earnings call transcript Q4 2019 | Bio-Rad Laboratories, Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Q4 and Full Year 2019 Bio-Rad Laboratories Incorporated Earnings Conference call. At this time, all participant lines are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, that today's conference may be recorded. [Operator Instructions]

to conference like speaker to now Mr. today, would hand over the your I Hutton. Ron you. Thank ahead go Please sir.

Ron Hutton

fourth year of Chief Thanks, all me Today, Group. the for Group; Good President today joining Tumolo, President and Annette Daniel. afternoon and our us. we and are, Norman will CEO; Vice Andy XXXX. and results for financial Executive Officer; Wright, thank Schwartz, Financial you quarter With full Ilan Officer; Diagnostics Last, Life Operating Science the Executive Daskal, Chief Vice Dara President President Clinical and review of

I undue you encourage Before statements not where risk results we goals, the begin like not may these plans differ today. company performance business. and and you everyone our these the making financial to about call future review, made that be we materially discuss management's The review on from factors forward-looking other in place statements our SEC, any statements expectations, would filings forward-looking will detail to and matters. the update actual with our caution our we forward-looking I during reliance should expectations, and plans in intend our to Because does

comparable to non-GAAP the reconciliations income of Our remarks will measures results principles. should review income defined in accounting GAAP Investors the also contained release. include share, under and these non-GAAP not today measures diluted which are net references our per that financial are generally earnings to accepted non-GAAP

the like to turn I'd over call Ilan. to now

Ilan Daskal

us. thank all joining Good and Ron. afternoon you you, Thank for

million Net for increase which QX $XXX.X as GAAP of XXXX of a for fourth the XXXX $XXX.X will on fourth XXXX. in on basis year million, a sales full quarter basis. commentary as the results versus reported X.X% review We non-GAAP well a is basis, quarter and were on

that we currency-neutral due fell early midpoint reported the by cyber-attack a guidance, to $XX of mainly our X.X%. revenue The quarter December. short sales fourth million the basis, increased On about from in

We recover in of XXXX QX revenue million shortfall. about expect $X QX to of the

across areas experienced our Asia we attack, Life Europe. group in quarter, by reported the product which fourth quarter increase $XXX.X Sales basis of Life many the good Sales key million impacted the X.X% group million the impacting currency-neutral were QX X% most Science XXXX growth cyber Science compared the and During the $XXX were of increase demand sales. mainly basis. XXXX in Americas and in in in a on of on of is a and to

in double-digit fourth quarter in Much of Droplet growth the Process for a Digital as by was strong PCR as growth in well the driven Media. year-over-year very and Food results Safety,

the Science XXXX of the a Excluding of mainly process cyber as currency-neutral business attack, Sales, revenue the which Media basis X.X% impacted a Science. Life Life on versus of result declined QX

Science basis, geographic sales year-over-year in and currency-neutral a the On grew Americas Life in Europe.

PCR system continue have and outlook, to are Digital QX The continues in pleased demand good momentum. Droplet to business Our as we and shipments. was integrated launched very the we production QX ramp with fully ONE

$XXX were a in million basis. compared Clinical a currency-neutral million and QX X.X% Sales of XXXX, basis is $XXX on on growth QX of the reported Diagnostics X.X% products in which to growth

business. immunology decline within quarter, Blood quality year-over-year infectious by growth posted was we Typing, control This and fourth the solid growth During offset of diabetes lines. somewhat the product diseases

to to and and goods gross Americas. the impacted, cyber-attack, XXXX a reported XXXX. as was Amortization was basis, recorded prior growth in in Asia manufacturing million sold The due temporary related margin to QX the quarter outage QX production quarter cost the a basis group XXXX. restructuring compared in lower utilization, geographic of in compares to in the mainly by for of million lower revenue GAAP The negatively well $X.X acquisitions was reserve. XX.X% margin as of the fourth $X.X fall-through, a and fourth XX.X% Diagnostics on On posted gross

of for XX.X%. SG&A SG&A in amortization acquisitions cost were $XXX expenses QX The QX the achieve versus goals. million was The SG&A $X.X XXXX. $X.X for of remain XXXX a to XXXX Total quarter $XXX.X of expense XX.X% related or initiatives or XXXX to of recorded area million was in savings expense our million in QX fourth million sales. SG&A focus

$XX.X $XXX.X million in was $XX.X of million QX and X.X% in $XX.X was QX sales or compared of QX expense QX in development or million loss X.X% sales XXXX. XXXX. compared operating or Research to of income million X.X% to of

line, holdings substantially securities reported is related value below of holdings fair AG. the operating the of the in market added of $XXX income million results and shares to equity change Looking the the of Sartorius the to

$XXX.X were quarter in in the earnings QX The benefit million Sartorius of the during $XX.XX. in income net our Reported rate and XX.X% per increase resulted of effective venture The last XXXX The $XX,XXX to was year. related quarter, compared investments. the of valuation net on other and year income share XX.X% substantially Also, to versus the diluted primarily net $X.X tax in expense was per losses and for holdings. QX for reflects share of and is earnings income, impairments and compares interest XXXX. about to some other fourth last the million quarter of increase year-over-year

results. to non-GAAP on Moving the

the our and items detailed as in These at press operating margins a basis, items well income. reconciliation have both impacted we as the unique atypical certain table the on are other results gross Looking that and in non-GAAP release. excluded

move sold, fourth of in of of acquisition-related million $X.X intangibles, of in million QX versus of XXXX. cost the $X.X exclusions XX.X% purchased for amortization the million benefits Looking of non-GAAP and $X.X restructuring of the XX.X% gross expenses. we These the a at results of goods XXXX quarter, margin for to margin non-GAAP excluded have gross fourth quarter

$X.X amortization on of million In a adjustment we acquisition-related non-GAAP reserve. non-GAAP XXXX. excluded The in and of XXXX in the million, million $XX.X was of basis, restructuring of $X.X SG&A, SG&A a benefits, fourth $X.X million have XX.X% to QX intangibles purchased cost quarter versus of legal XX.X% of

restructuring non-GAAP excluded was cost $X.X of consequently in R&D a have R&D, In X.X%. The million. expense QX we

adjustments, The of non-GAAP GAAP these X.X% basis, cumulative non-GAAP from is moving on margin result about operating from in to which basis flat a a QX on the sum quarterly XXXX. XX.X% of

have losses Sartorius We million the value $XXX operating items million with the are also holdings excluded and venture below line, the of of which certain increase $X.X in investments. associated equity

credits. the of $X.XX income XX.X%. for rate for earnings tax of or the enabled diluted million finally $X.XX non-GAAP the rules effective in to XXXX. QX tax million was share non-GAAP this $XX to us per share $XX.X was A change foreign tax quarter apply And net higher quarter XXXX compared per fourth and quarter The in

Net million of full year $X,XXX which mainly to below sales year is for midpoint the the attack. revenue million, due Moving is full growth the fourth on X.X% about annual were The on to our basis. $XX a results. the currency-neutral cyber guidance, quarter

in about We expect quarter XXXX fourth QX recover the revenue million of to shortfall. $X of

Process in on Sales X.X% Life Science group Droplet basis. for were on was X.X% and driven double-digit Food growth the the Much increase by is of growth basis of XXXX and full Media. Digital PCR, year-over-year Safety of reported which currency-neutral $XXX.X a a million, an

sales Life impacted sales market. demand in geographic cyber-attack by the Americas Science Life were from mostly a by the in Science year-over-year Europe in mainly currency-neutral full Asia and basis, December. biopharma On the grew driven in

by Sales Control, growth XXXX of $X,XXX were is on Quality was full a currency-neutral Clinical mainly growth Autoimmune basis million, flat reported Blood products. a Diagnostics products driven on year-over-year about which X.X% for The and and testing Typing basis.

in increase During nice the instrumental year, we continue to year-over-year new see a installations.

geographic full margin growth Asia XXXX. well XX% year of Americas in negatively non-GAAP gross manufacturing increase Diagnostics a and was in by year-over-year compared Clinical as the basis, to The year-over-year sales driven modest as was The full by in a On Europe. with growth saw was associated and the product mainly cyber inventory XX.X% attack. cost cost reserves, efficiencies lower impacted margin mix, but in

The to X.X% R&D was XX.X% Full Full XXXX. to versus operating focus was XX.X% XXXX remains achieve compared area income our for non-GAAP compared a XX.X% year year SG&A in non-GAAP full XX% to in goals. X.X% XXXX. was SG&A non-GAAP and XXXX year in us

rate tax a change full rate the mainly by tax us to year was tax lower tax guidance which driven versus in our Lastly, was XX%. of enabled rules, apply credits. XX.X% foreign The non-GAAP the higher

the sheet, cash short-term liabilities $XXX third are million at end the reclassified total million the from outstanding QX investments were of and of the year this that liabilities. balance $XXX on of due compared of to bonds million We $XXX to of the quarter. current at XXXX end and long-term end at December in Moving to $X,XXX million the

$XXX. approximately stock our at we price XX,XXX million quarter, of share purchased of fourth an the During for average $X shares

compares the XXXX, million operating cash was capital. million, improved For $XXX to profits fourth $XXX higher improvement working of from the This in of quarter XXXX. QX generated about and mainly net operations reflects which

the $XXX year For million of for XXXX was $XXX.X in generated of XXXX. million $XXX versus or was fourth net million of full adjusted the from XXXX, quarter The EBITDA operations XX.X% cash sales.

Net the including full the year for full to dividend in that $XXX.X was was million was $XX.X the million. fourth XX.X% CapEx quarter $XXX.X for capital fourth for and EBITDA, Depreciation and in paid and the adjusted compared quarter QX about amortization XXXX. in million $XX.X of and XXXX were $XX.X million year. was Sartorius year Full XX.X% or million, declared QX expenditures

the Moving on for guidance XXXX. to

are XXXX. in and pleased strong XXXX overall performance in We continue we see with the momentum to

Diagnostics point growth the X.X% to coronavirus XXXX. and estimate for for for us revenue the outbreak. Science this in at is a potential and of too X% growth group are of X% to impact to XXXX the X% in revenue currency-neutral global group estimate time the We currency-neutral between early between X% It guiding Life X.XX%. We

Media QX Media. XXXX. We we fluctuation is lower be to will a revenue Process for quarterly that expected for revenue QX compared experience Process continue to to assume of

and and We and full Full our about rate non-GAAP Overall, run we be for projected of XX.X% goal we by CapEx end operating XX% growth rate the year to XX.X% $XXX projected $XXX margin estimate are tax adjusted XX.X% the between non-GAAP and to million. full achieve this XX% is and gross track the EBITDA However, year. on double-digit overall margin an is of million between between full non-GAAP XX.X%. year. year year estimate

a And now, Norman comments. turn I'll call the for to few

Norman Schwartz

Okay. Ilan. Thanks,

you the for past look continue discipline. look think a we comments, on expense steady underlying and general the around, floating pursuing. – me combination few the That are if we've pleased me, progress a growth is that are think all sales we you if viruses to for I good progress goals make I of that and been XXXX Just with

equation, outlook the world is around of grow continue On the our markets the sales positive. the and to XXXX our products side for for

by late also Droplet and but me that new PCR year planned probably the for across the driven by most think the markets, effect the I in is XXXX, in Digital the platforms System introduced ONE products introduced QX business and year. introduction outlook the full of robust notably products of

I in think in two one Diagnostics. acquisitions factors completed in the Life the effect Science XXXX and one outlook in of also we

you we the see But benefits that I about. from we've progress we to do talked I of the income previously to do improving to a the another the expenses. largely markets year we progress. SG&A in on And that, made certainly organization as some results of driven improvements of on So forward and also and pursuing. in the there's systems operating can our continue supply also chain focus we've make the by from benefited guess, look investments, more we're capture

Ilan Daskal

you, Thank Norman.

open take questions, your will Operator? We the to line now

Question-and-Answer Session

Operator

stand by roster. Q&A the Please compile Instructions] while we [Operator

with first Our question Couillard from Jefferies. comes Brandon

Your open. is now line

Brandon Couillard

$X million I right million your Thanks. if comments in to right? Good cyber-attack, of quarter. $XX the from interpret recapture only fourth you the that Ilan, afternoon. the expect Is

cyber-attack just consider impact the chance orders? the the fourth should margins quarter gross. you any million, in $XX just the And could as operating on And we And specifically? quantify lost other of

Ilan Daskal

Thank appreciate you, question. I the Brandon.

kind recover answer first out the to don't the of your QX. of anticipate we to forecast the the from $X million So yes. And I $XX $XX million. is or plan million, to plan capture million or question, remaining mean, we $XX currently

the the think impact manufacturing, the to And general. expenses about about overall to it mean in disruption, when can was broad-based the operations, overall. you on operating and to I expenses, you think

And quarter. was tail, the a there throughout

carve ongoing from difficult to of results. it's out very it So the kind

that we kind And were we all into overall to, the results. is of just to do baked announce results so, what It's what the decided announced.

Brandon Couillard

Okay. rate? margin EBITDA full to margin. And the about exit you and help us reconcile the the of Can we think just guidance, adjusted your as comments operating year XX.X% XX.X% operating relative

pays the it to in dividend Should way that first just even to the try exiting we think half math? fourth profitability year, do to in year, the Sartorius the the the about plug into right though of quarter

Ilan Daskal

Yeah.

QX, usually, dividend into would XX%, first full half So, XXXX. it Brandon about we the at way And rate overall account On year historically least, in basis, in to EBITDA of think the pay dividend from or Sartorius either Sartorius. the and QX year the the is run when tend sometime. of you a take a the be,

Brandon Couillard

then, on for that maybe terms outs? in a if could Andy, some of initiatives, perhaps the elaborate you'll And of of the question the some of focused be you just in XXXX, areas cost Thanks. cost business on

be the by plan, you And the if savings you done I European net quantify anticipate from the quarter? could think perhaps second restructuring should which

Andy Last

Yeah.

continue focus mean, SG&A, a -- outs. we real our for there's broadly I'll pursue between, based. improvements on on So, in split maybe cost I and myself. mean changes no to I in overall commentary this Ilan

course we've strategy. the of starting footprint forward, to as think, it I which year. on longer-term before. We're going our more And to talked right overall And later in will turn elaborate manufacturing

there I did everything -- cover think Or was is another of I that that piece question? there?

Ilan Daskal

have -- question. think, covered think, Brandon I I you the

Andy Last

that, think Okay. covered I I

Ilan Daskal

I we'll the second of extract to line focus more lay the do the XXXX. XXXX. Investor plan will sometime an which half have yeah, follow-on Andy on then. kind in as we strategy Day mean, beyond the And on And of SG&A the mentioned, out for focus from year, the mainly communicate to is -- continue the Brandon, So to We SG&A. is leverage

Brandon Couillard

come quantified longer-term, the sort to time? acquisitions of Okay. for think the about for you just contribution two you over rate us you the growth. And the anticipate can tax revenue one help follow-up to and since And as Ilan, XXXX, from runway sort then continue think on you of down we

Andy Last

on comment that. can I Maybe

Ilan Daskal

first The one yeah.

Andy Last

Yeah.

of small technology were early So, these I phase mean kind tuck-ins.

new kind from small done number. out very it's mean, There'll and products not it's I So we've the work tuck-ins. -- those be of a it's -- coming on

well getting in We're So marketplace beyond. a as focus those contribute. will can it looking that on we build it, so position the XXXX to forward established and in on

Ilan Daskal

Brandon tax regarding your question to the other rate. And

was that change XXXX. made the So was quarter this retroactive for

our in right think we was rate the about XX% tax current with overall mid-XXs. now structure to on That's it's the ongoing So down regarding think maybe an somewhere XX% we basis, long-term the right it now. way with about

Brandon Couillard

I’ll All jump back. Thank right. you.

Ilan Daskal

Thank you.

Andy Last

you. Thank

Operator

Thank you.

from comes Our Dan Wells next with Fargo. Leonard question

Your is now line open.

Dan Leonard

But China. of you. My Thank tough first it's where one on coronavirus, stand to the exposure Appreciate to impact today. tell chain your you China? speak we can supply the in

Andy Last

Yeah.

to comment your in tough full is outlook impact it the think I first tell to on first China. reiterate the

have is I and major China, companies. to other Life in chain supply think Our and do Singapore the We very DCs probably Diagnostic Science in region. around manufacturing similar

challenges infrastructure that subject to channel let's China. we're reduced workforce the the warehouses and So support we’re just -- it exist the in call same in

worse anybody time. point in no better no else than we're or think this I at

Dan Leonard

your go you meaningful from right? source any amount would that I China? don't equipment hearing into Am material of But

Andy Last

Can it Dan? again you say

Norman Schwartz

source… do We

Dan Leonard

of don't do China source You raw meaningful a materials you? amount from

Norman Schwartz

kinds some We and we To do haven't parts that. see. date, to and seen Again electronic source some big we of disruptions just from things obviously wait have in -- those China.

Dan Leonard

that negative was of When Diagnostics Okay. trends will like And sounds region you on then a the do follow-up again in business It Diagnostics. the quarter. the couple European questions just bottom? in expect

terms you Thank rate look secondly the you. think market that And expect of XXXX? And diabetes lumpier a trend the to to performance what I XXXX you diabetes than was on bit total in like typical. what there? maybe Can then growth the was in specifically, mark in

Dara Wright

this Wright. Hi, is Sure. Dara

So European comment. with start the I'll

see growth consolidation would are mirrors downward It's right? I lab this growth So price been at and in years moderated we our the largely market that recent say broadly consistent trends fairly by But point. those pressures.

mature of in European is of spots the bright some example, Eastern in more Europe. that Now offset more outside rapid growth countries, for by

you lumpiness. On some think about the front, of the asked I diabetes

to I adoption North of to increased bright regions we and we'll continue in a we in in and spot. America test volume see those new as continue Asia meaningful both had a focus think and Pacific win forward. was parts We QX move on contract installations

Dan Leonard

Thanks for the color.

Andy Last

Dan. Thanks,

Operator

question with Thank Jack next from you. Our Instructions] Meehan comes [Operator Barclays.

open. is Your line now

Jack Meehan

clarification you. Thank $XX just I a the impact quarter. afternoon. start Good with the in on wanted to million

First, what And quarter? is impact? was some was Diagnostics? and as assume comp BioPlex the was so fourth guidance assume down, what an then assay you in you XXXX the split Science -- know between have example the there Life I do terms just the an of Diagnostic easy in builder

Ilan Daskal

-- to everything And with the Life your is for the revenue most guidance, Jack, Science So was the quarter. first QX an and comp, all-in easier will fourth yes. of the question be yeah,

Jack Meehan

in I there. then Europe. And the -- wondering I you're fourth bit market? X-K think elaborate And you the more how the had about Okay. quarter, a talk on sales the you in if of little to going repositioning strategy maybe could the was just force

Andy Last

Yeah. This is Andy.

So a in channel The charge piece that. of was we a took Europe restructuring QX. in certainly broad-based

As let's for the we looked channel across at lab relative our consolidation business structure to example. Diagnostics it call

infrastructure side. really to on the fine-tuning the channel And on performance the gone there consolidation so, that's Diagnostic and European and reflect we're our the

Ilan Daskal

obviously with locations. to the it to mean, Yes. to mean, the strategy Andy and mentioned some Europe. it repurpose I growth repurpose plan really we is consolidation of the Jack in I areas that

as the was and in itself. well restructuring a it other Europe few locations So,

Jack Meehan

droplets. single maybe with then Great. I the one the on -- cell guess And final one on

maybe impact any in I for litigation a an think related be wondering launch you give us potentially TVC. could product new front the then on the on just an side Annette, if to would that that the was there update has? single-cell yesterday of expectations if update helpful. for terms just was And what I

Annette Tumolo

Okay.

So, of on our directly although, market product. one really revenue ATAC-Seq sample vibrant we new And XXX is Commission new we're NGS yes, three building International released products patents of We we prep current a program Droplet completely products And to the have had we develop developing the Digital R&D in to a the isn't products. products. in impact presence that our material active decision on prep that all. the PCR the found called of area. decision at year Trade single-cell and This out focused this infringe last unrelated area, are RNA to sample and on

for we're really have decision So run. in revenues. impact this But market doesn't our the long on this material

Jack Meehan

you. Thank

Annette Tumolo

And I'll because manufacturing more manufacturing domestic, I It we took guess, our thing. one for of those won't customers have steps add all really to products. impact either

Operator

Thank you. from Our Instructions] Patrick [Operator comes next with Citi. Donnelly question

Patrick Donnelly

of In pull Maybe to unexpected for to the end XXXX cyber to a you keep margin target. this any Can Thank caused year that beginning Great. just other talk ransomware the did you of one spend the see attack? nice just caused on levers kind reiterate you additional some guys side, XX% about the guys you that on including you the words that to path have take different course after XXXX other to get there? of

Ilan Daskal

Patrick. the appreciate you, Thank I Yes. question.

satisfied the And the we and QX. into So, incremental some improving of incremental can with end the we mostly cost was you we are as a SG&A. lot QX, the I you is look results. an with end think on specifically expenses, -- results operating focus the terms have into tail There what see up when very there but been the QX -- the investing cost, going is in in

the in for so the all And actual. baked XXXX forecast and it's

in of end some And most in QX small baked -- into it is was so, tail there tail QX. going

Patrick Donnelly

like Can is kind type on you about for Sciences. ddPCR X% business times of then just growth just XXXX hear update this in Norm moving encouraging side? could a in now? you to the the TAM Maybe that what your to on of about guys X% growth look I thoughts How guys up talk talked more the guys Okay. traction. a like guide, market about you And talk Life looks big you getting years. on few us as few know, the gain and kind more on you what

Dara Grantham

in a from the for new surface just our Droplet Norman to beginning of So, we platform outlook revenue I think first have And for year in PCR Diagnostics very this optimistic scratch mentioned. our we're the full We're Digital business. really the expecting business. as opportunities

about usually we're don't been and of size have we the but that for heavily the talk So, exact change We double-digit in to in growth business, year upon business. we very that year year. investing don't robust upon expect

Patrick Donnelly

the and mean, this cash obviously of one look been in you the kind decide target? deployment have preferring deal you a repurchase also build of you obviously a go? Okay. an And there that then kind muted I what not on quarter, out what deal side, How has where to pursue you're of maybe side you activity share in for would see important capital much. terms guys like pretty And just that nice but metrics too element then the to to the on M&A would would target? some be guys in stage would a order is large the guys you are

Norman Schwartz

five were questions or there about So, in there. four

we you to you we have make against So, do that we and then to if quarter, repurchases that a opportunities capital. try deploy certainly, share I And have every acquisition decision quarter-by-quarter. it's just balance that between think have how and to

the question, was? second the part So again of

Patrick Donnelly

deal prefer terms look in go? willing would like? just of like are be you what How Yeah, the What you guys M&A? would you large feeling to

Norman Schwartz

Yeah. Okay.

do the the our debt good So valuations and fairly and capacity cash little Again making on on have, been we sized. We get we something payback of fair got. we've the obviously that it's always sure for us, the got debt a about we we considering very or amount could reasonably a have lack earnings the of and it. balance sheet

Patrick Donnelly

Okay. Excellent.

Operator

you. Thank

Brandon from next a follow-up is Our with question Jefferies. Couillard

Your lien is now open.

Brandon Couillard

expect the to of I down back you to the to that see you is mean, Thanks. capital? the basis? continue the on of Ilan drivers just operating a sort of to we Should sequential are Could speak bring And working you. operationally? runway continue flow want still just pretty with some inventories remarkable. circle come to down to that cash what

Ilan Daskal

Yeah. Thanks, Sure. Brandon.

in $XX target inventory had to about Overall, stock. And the to some that in it it down of back it XXXX, the so think deplete was and And had going associated of XXXX. was we year-over-year million QX cyber-attack to of target reduce inventory, most into will which safety another it to up a So is with first somewhat end actually million. we $XX the our take way there of go probably is the about half. down towards the part

Brandon Couillard

Thanks. good. Very

Operator

And is next Jack question our from with a follow-up Meehan Barclays.

Your line open. is

Jack Meehan

you, the Diagnostics again. business. on Thank follow-up One

can to X% year, to the in about trend terms the of changes within expecting various any you just So this that? for organic Are X% talk rates you're businesses maybe products within guiding that? there growth

Dara Wright

Yes.

growth the consistent the XXXX, we XXXX. regional drivers we've and So to performance be in fairly been expect that experiencing in

around on focus proposition of core laboratory to So our productivity. continue we'll value some

year diabetes automation on we'll new as late So a lab year. We'll in benefit on and disease a support. as then launched both and of that clearances. Typing regional FDA Lyme we're in regional then kind of And full from focus expansion Blood quality assay menu enablement also last focused test year a total have platforms we some of control perspective, well

benefit our the – rapid we'll infectious well label disease as get blood America some some as in of claim full typing North year in of. So platforms for platform extensions other

Jack Meehan

testing talked the headwind of the on of related coronavirus. the But the was we side. Science could from potential thought then to actually products curious curious, about headwind I some a from potential your see you was needs? tailwind any I Life if And Great. –

Annette Tumolo

an across seen I our of products have and both Yeah. mean, all certainly platforms. PCR reagents demand in we uptick

think I I yeah, little upside a So mean, we get might there.

Jack Meehan

you. Thank

Operator

to showing questions back any time. not over now for management any at call this like would to closing remarks. further the turn I I'm

Hutton Ron

next if very Thank you joining you interest in and quarter much. very to afternoon for look talking being much not and this forward earlier. Okay. Thank touch and we to for us your you

Operator

Ladies this and you today's for gentlemen, call. participating. conference concludes Thank

disconnect. now You may

Bio-Rad Laboratories (BIO) 13 Feb 202019 Q4 Earnings call transcript