Bio-Rad Reports Third-Quarter 2015 Financial Results HERCULES, CA

Bio-Rad Reports Third-Quarter 2015 Financial Results

HERCULES, CA - November 3, 2015 - Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global provider of life science research and clinical diagnostic products, announced financial results today for the third quarter ended September 30, 2015.

Third-quarter reported revenues were $470.0 million, a decrease of 11.4% compared to $530.6 million reported for the third quarter of 2014. On a currency-neutral basis, quarterly revenues decreased 2.2% compared to the same period last year. Third-quarter gross margin increased to 56.1% compared to 54.4% during the same quarter in 2014. The year-over-year increase in gross margin in the third quarter compared to the same period last year was primarily due to a more favorable product mix as well as the consolidation and closure of certain facilities and product lines in 2014.

Net income for the third quarter was $17.4 million, or $0.59 per share on a fully diluted basis, compared to $11.5 million, or $0.39 per share during the same period last year. The increase in net income for the third quarter of 2015 was primarily the result of the absence of a nonrecurring expense of $12.1 million.

Year-to-date revenues were $1.45 billion, a decrease of 8.1% compared to $1.58 billion reported in the first three quarters of 2014. Adjusting for the impact of currency, year-to-date revenue growth for the first nine months of 2015 was 1.2%.

Year-to-date net income for the first three quarters of 2015 was $63.6 million, or $2.17 per share on a fully diluted basis, compared to $49.8 million, or $1.71 per share reported during the same period in 2014. The year-over-year increase of net income resulted primarily from several discrete items including the absence of nonrecurring expenses of $20.1 million accrued during the same period last year. This was partially offset by an increase of $7.6 million of expense reflecting the revaluation of contingent consideration for certain acquisitions, $3.3 million of bad debt expense, and a one-time distributor termination expense of $1.9 million. The effective income tax rate for the first nine months of 2015 was 31% compared to the tax rate of 42% during the same period in 2014. The lower tax rate in 2015 was primarily due to a decrease in tax reserves as a result of the expiration of statutes of limitation. The higher tax rate in 2014 was primarily due to losses incurred in foreign jurisdictions and nondeductible penalties.

The Life Science segment net sales for the third quarter were $150.4 million, a decrease of 13.0% compared to the same period last year. On a currency-neutral basis, the Life Science segment sales were down 5.9% compared to the third quarter of 2014. The currency neutral sales decrease was somewhat offset by growth in Droplet Digital PCR products, the V3 Western Workflow western blotting portfolio, and iQ-Check food science products. The currency neutral sales decrease was primarily in the U.S. and Asia, while sales in Europe had modest growth.

Clinical Diagnostics

Reported net sales for the Clinical Diagnostics segment in the third quarter were $316.2 million, a decrease of 10.9% compared to the third quarter in 2014. On a currency-neutral basis, the Clinical Diagnostics segment sales were relatively flat, decreasing 0.5% versus the same period last year. The segment achieved good overall sales growth in North America. Sales of quality control products were strong worldwide. Offsetting this was continued weakness in European markets, which are still experiencing consolidation and pricing pressures. In July, Bio-Rad announced that it had received U.S. Food and Drug Administration pre-market approval to offer its BioPlex 2200 HIV Ag-Ab assay, the company's 5th generation HIV diagnostic test. Also during the quarter, Bio-Rad introduced the IH-500, a fully automated random access system for blood typing and screening for small and medium-size transfusion medicine laboratories. The instrument is available in Europe, Asia, Africa, Australia, and Latin America.

Management will discuss these results in a conference call at 2 PM Pacific Time (5 PM Eastern Time) November 3, 2015. Interested parties may access the call at 877-311-4349 within the U.S. or 720-634-9933 outside the U.S., passcode: 55492775. You may also listen to the conference call live via a webcast that is available on the "Investor Relations" section of our website under "Quarterly Results" at www.bio rad.com. The webcast will be available for up to a year.

Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) develops, manufactures, and markets a broad range of innovative products and solutions for the life science research and clinical diagnostic markets. The company is renowned for its commitment to quality and customer service among university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries. Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than 100,000 research and healthcare industry customers through its global network of operations. The company employs more than 7,600 people worldwide and had revenues exceeding $2.1 billion in 2014. For more information, please visit www.bio-rad.com.

This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements we make regarding our release of new products, sales by region and future financial performance. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "believe," "expect," "anticipate," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions, although not all forward-looking statements contain these words. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties include foreign currency exchange fluctuations, our ability to develop and market new or improved products, difficulties in implementing our global enterprise resource planning system, supply chain issues, our ability to compete effectively, product quality and liability issues, reductions in government funding or capital spending of our customers, international legal and regulatory risks, recent changes to our global organizational structure and executive management team, changes in the healthcare industry, global economic conditions, and natural disasters and other catastrophic events beyond our control. For further information regarding the Company's risks and uncertainties, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in the Company's public reports filed with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015 to be filed with the SEC. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Bio-Rad Laboratories, Inc. disclaims any obligation to update these forward-looking statements.

Investor and Financial Contacts:

Bio-Rad Laboratories, Inc.

Christine Tsingos, Executive Vice President and Chief Financial Officer

Ron Hutton, Vice President, Treasurer

Bio-Rad Laboratories, Inc.

Condensed Consolidated Statements of Income

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Bio-Rad Laboratories, Inc.

Condensed Consolidated Balance Sheets

Bio-Rad Laboratories, Inc.

Condensed Consolidated Statements of Cash Flows