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<SEC-DOCUMENT>0000012208-06-000012.txt : 20060504
<SEC-HEADER>0000012208-06-000012.hdr.sgml : 20060504
<ACCEPTANCE-DATETIME>20060504171009
ACCESSION NUMBER:		0000012208-06-000012
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060331
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060504
DATE AS OF CHANGE:		20060504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIO RAD LABORATORIES INC
		CENTRAL INDEX KEY:			0000012208
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				941381833
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07928
		FILM NUMBER:		06809369

	BUSINESS ADDRESS:	
		STREET 1:		1000 ALFRED NOBEL DR
		CITY:			HERCULES
		STATE:			CA
		ZIP:			94547
		BUSINESS PHONE:		5107247000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k033106.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>Bio-Rad Laboratories, Inc</TITLE>
<META NAME="author" CONTENT="Stephanie Trudrung">
<META NAME="date" CONTENT="04/24/2006">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center><FONT FACE="Arial" COLOR=#000000>UNITED STATES</FONT></P>
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>SECURITIES AND EXCHANGE COMMISSION</P>
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>Washington, D.C. &nbsp;20549</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>Form 8-K</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>CURRENT REPORT</P>
<P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>PURSUANT TO SECTION 13 OR 15(D)OF THE SECURITIES EXCHANGE ACT OF 1934</P>
<P style="margin:0pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=482.4></TD></TR>
<TR><TD valign=top width=643.2>&nbsp;</TD></TR>
<TR><TD valign=top width=643.2>&nbsp;</TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=643.2><P style="line-height:normal; margin:0pt; font-family:Arial; font-size:11pt" align=center>Date of Report<FONT FACE="Symbol">:</FONT> &nbsp;May 4, 2006</P>
</TD></TR>
<TR><TD valign=top width=643.2><P style="margin:0pt; font-family:Arial" align=center>(Date of earliest event reported)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=36></TD><TD width=441></TD></TR>
<TR><TD valign=top width=48>&nbsp;</TD><TD valign=top width=588><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>BIO-RAD LABORATORIES, INC.</P>
</TD></TR>
</TABLE>
<P style="line-height:13pt; margin:0pt; padding-left:36pt; font-family:Arial; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:13pt; margin:0pt; padding-left:14.4pt; font-family:Arial; font-size:11pt" align=center>Commission file number <U>1-7928</U></P>
<P style="margin:0pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=275.45></TD><TD width=13.15></TD><TD width=14.4></TD><TD width=186.7></TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=367.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>Delaware</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=17.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=268.133 colspan=2><P style="margin:0pt; font-family:Arial; font-size:11pt" align=center>94-1381833</P>
</TD></TR>
<TR><TD valign=top width=367.267><P style="margin:0pt; font-family:Arial" align=center>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=top width=17.533>&nbsp;</TD><TD valign=top width=268.133 colspan=2><P style="margin:0pt; font-family:Arial" align=center>(I.R.S. Employer Identification No.)</P>
</TD></TR>
<TR><TD valign=top width=367.267>&nbsp;</TD><TD valign=top width=17.533>&nbsp;</TD><TD valign=top width=268.133 colspan=2>&nbsp;</TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=367.267><P style="margin:0pt; font-family:Arial; font-size:11pt" align=center>1000 Alfred Nobel Drive, Hercules, California</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=17.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=268.133 colspan=2><P style="margin:0pt; font-family:Arial; font-size:11pt" align=center>94547</P>
</TD></TR>
<TR><TD valign=top width=384.8 colspan=2><P style="margin:0pt; font-family:Arial" align=center>(Address of principal executive offices)</P>
</TD><TD valign=top width=19.2>&nbsp;</TD><TD valign=top width=248.933><P style="margin:0pt; font-family:Arial" align=center>(Zip Code)</P>
</TD></TR>
<TR><TD valign=top width=652.933 colspan=4>&nbsp;</TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=652.933 colspan=4><P style="margin:0pt; font-family:Arial; font-size:11pt" align=center>(510)724-7000</P>
</TD></TR>
<TR><TD valign=top width=652.933 colspan=4><P style="margin:0pt; font-family:Arial" align=center>Registrant's telephone number, including area code</P>
</TD></TR>
<TR><TD valign=top width=652.933 colspan=4>&nbsp;</TD></TR>
<TR><TD valign=top width=652.933 colspan=4>&nbsp;</TD></TR>
<TR><TD valign=top width=652.933 colspan=4><P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; font-family:Arial; font-size:11pt">ITEM 2.02.</P>
<P style="margin:0pt; text-indent:72pt; font-family:Arial; font-size:11pt">RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</P>
</TD></TR>
<TR><TD valign=top width=652.933 colspan=4>&nbsp;</TD></TR>
<TR><TD valign=top width=652.933 colspan=4><P style="margin:0pt; text-indent:36pt; font-family:Arial">The information in Item 2.02 of the Report, including Exhibit 99.1 attached hereto, is being furnished pursuant to Item 2.02 of Form 8-K. &nbsp;Consequently, it is not deemed &#147;filed&#148; for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. &nbsp;It may only be incorporate by reference in another filing under the Exchange Act or Securities Act of 1933, as amended, if such subsequent filing specifically references this Form 8-K. &nbsp;</P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt; text-indent:36pt; font-family:Arial">On May 4, 2006, Bio-Rad Laboratories, Inc. announced its results of operations and financial condition as of and for the quarter ended March 31, 2006. &nbsp;A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>
</TD></TR>
<TR><TD valign=top width=652.933 colspan=4>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR>
<BR></P>
<P style="margin:0pt; page-break-before:always"><BR></P>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=68.4></TD><TD width=396></TD></TR>
<TR><TD valign=top width=619.2 colspan=2><P style="line-height:13pt; margin-top:0pt; margin-bottom:-13pt; font-family:Arial; font-size:11pt">Item 9.01</P>
<P style="line-height:13pt; margin:0pt; text-indent:72pt; font-family:Arial; font-size:11pt">FINANCIAL STATEMENTS AND EXHIBITS</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=528>&nbsp;</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=528>&nbsp;</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Symbol; font-size:11pt"><FONT FACE="Symbol">(</FONT><FONT FACE="Arial">c</FONT>)</P>
</TD><TD valign=top width=528><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt"><FONT FACE="Arial">Exhibits</FONT></P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=528>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=68.4></TD><TD width=11.8></TD><TD width=384.2></TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Exhibit </P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267>&nbsp;</TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Number</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Description</P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">99.1</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Press Release for first quarter financial results of</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Bio-Rad Laboratories, Inc., dated May 4, 2006. &nbsp;This exhibit is</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">being furnished pursuant to Item 2.02 of Form 8-K.</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=478.8></TD></TR>
<TR><TD valign=top width=638.4><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>SIGNATURES</P>
</TD></TR>
<TR><TD valign=top width=638.4>&nbsp;</TD></TR>
<TR><TD valign=top width=638.4><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly</P>
</TD></TR>
<TR><TD valign=top width=638.4><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=137.7></TD><TD width=189></TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">BIO-RAD LABORATORIES, INC.</P>
</TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252>&nbsp;</TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252>&nbsp;</TD></TR>
<TR><TD valign=top width=183.6><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Date: &nbsp;May 4, 2006</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=252><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">/s/ Christine A. Tsingos</P>
</TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Christine A. Tsingos </P>
</TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Vice President and</P>
</TD></TR>
<TR><TD valign=top width=183.6>&nbsp;</TD><TD valign=top width=252><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">&nbsp;&nbsp;Chief Financial Officer</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=68.4></TD><TD width=11.8></TD><TD width=384.2></TD></TR>
<TR><TD valign=top width=619.2 colspan=3><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt" align=center>EXHIBIT INDEX</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267>&nbsp;</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267>&nbsp;</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Exhibit </P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267>&nbsp;</TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Number</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Description</P>
</TD></TR>
<TR><TD valign=top width=91.2><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">99.1</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Press Release for first quarter 2006 financial results of</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">Bio-Rad Laboratories, Inc., dated May 4, 2006. &nbsp;This exhibit is</P>
</TD></TR>
<TR><TD valign=top width=91.2>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=512.267><P style="line-height:13pt; margin:0pt; font-family:Arial; font-size:11pt">being furnished pursuant to Item 2.02 of Form 8-K.</P>
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<TYPE>EX-99.1 CHARTER
<SEQUENCE>2
<FILENAME>ex991033106.htm
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<HEAD>
<TITLE>Exhibit 99</TITLE>
<META NAME="author" CONTENT="<P style="margin:0pt; padding:0pt; width:-0.05pt; font-family:Times New Roman; font-size:10pt; color:#000000; page-break-before:always">
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<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=493.2></TD></TR>
<TR><TD valign=top width=657.6><P style="line-height:18.5pt; margin:0pt; font-family:Arial; font-size:11pt" align=right><FONT FACE="Arial" COLOR=#000000><B><U>Exhibit 99.1</U></B></FONT></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt; padding-right:32.4pt; font-family:Arial"><B><I>FOR IMMEDIATE RELEASE</I></B></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt; font-family:Arial" align=center><B>BIO-RAD LABORATORIES REPORTS FIRST-QUARTER RESULTS</B></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:22pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial"><B>HERCULES, CA &#150; May 4, 2006 &#150;</B> Bio-Rad Laboratories, Inc. (AMEX: BIO and BIOb), a multinational manufacturer and distributor of life science research products and clinical diagnostics, announced financial results today for the first quarter ended March 31, 2006. &nbsp;First-quarter revenues from continuing operations were $308.3 million, up 3.0% compared to the $299.2 million reported for the first quarter of 2005. &nbsp;On a currency-neutral basis, revenues increased 8.3% compared to the first quarter of 2005. This sales increase was the result of organic growth across a broad array of product areas. &nbsp;For the quarter, income from continuing operations was $31.2 million compared to $29.5 million in the same period last year. &nbsp;At 56.9%, first-quarter gross margin from continuing operations was markedly higher than the 55.6% reported for the first quarter of 2005. &nbsp;The higher margin was due to a comb
ination of improved efficiencies and certain non-recurring items.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:16pt; margin:0pt; font-family:Arial"><B>First-Quarter Highlights</B></P>
<P style="line-height:16pt; margin:0pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol"><FONT FACE="Symbol">&#183;</FONT></P>
<P style="line-height:17pt; margin:0pt; padding-left:36pt; font-family:Arial"><FONT FACE="Arial">First-quarter basic earnings from continuing operations were $1.19 per share, or $1.16 per share on a diluted basis, compared to $1.14 and $1.11, respectively, in the same period of last year.</FONT></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol" align=justify><FONT FACE="Symbol">&#183;</FONT></P>
<P style="line-height:17pt; margin:0pt; padding-left:36pt; font-family:Arial" align=justify><FONT FACE="Arial">Life Science segment net sales from continuing operations for the quarter were $144.8 million, up slightly from the $144.1 million reported last year. Normalizing for the impact of currency effects, sales in this area increased by 5.6%.</FONT></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol" align=justify><FONT FACE="Symbol">&#183;</FONT></P>
<P style="line-height:17pt; margin:0pt; padding-left:36pt; font-family:Arial" align=justify><FONT FACE="Arial">The Clinical Diagnostics segment reported solid growth in its core businesses with net sales of $160.3 million, a 5.5% increase over the comparable period last year. On a currency-neutral basis, segment sales increased 10.9% over the first quarter of 2005.</FONT></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol" align=justify><FONT FACE="Symbol">&#183;</FONT></P>
<P style="line-height:17pt; margin:0pt; padding-left:36pt; font-family:Arial" align=justify><FONT FACE="Arial">In February, the Company reached a settlement agreement with Applera and Roche, enabling the Company to resume U.S. sales of certain MJ Research thermal cycling products.</FONT></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-18pt; font-family:Symbol"><FONT FACE="Symbol">&#183;</FONT></P>
<P style="line-height:17pt; margin:0pt; padding-left:36pt; font-family:Arial"><FONT FACE="Arial">Early in the quarter, Bio-Rad announced that it renewed a collaboration agreement with the Institut Pasteur of Paris for an additional four years. &nbsp;This relationship gives Bio-Rad exclusive commercialization rights to Pasteur&#146;s developments in the areas of virology, microbiology, physiology, biochemistry, parasitology and mycology.</FONT></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:16pt; margin:0pt; font-family:Arial" align=center>(more)</P>
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<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=493.2></TD></TR>
<TR><TD valign=top width=657.6><P style="margin:0pt; font-family:Arial"><B><I>Bio-Rad Reports First-Quarter Results </I></B></P>
<P style="margin:0pt; font-family:Arial"><B><I>Page 2</I></B></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:17pt; margin:0pt; font-family:Arial">Life Science segment net sales for the quarter were $144.8 million, up 0.5% compared to the first quarter of last year. &nbsp;On a currency-neutral basis, sales increased by 5.6%. &nbsp;Performance in this segment was the result of a combination of factors including sales increases in the amplification reagents and instrumentation, automated electrophoresis and process chromatography product areas. &nbsp;In particular, the segment benefited from a resumption of U.S. sales of certain thermal cycling products as well as from continued penetration into the bio-pharmaceutical drug separation market with products such as Bio-Rad&#146;s Macro-Prep&#174; support used in the purification of inhalable insulin. &nbsp;Segment performance was somewhat tempered, however, by a reduction in BSE testing revenue. </P>
<P style="margin:0pt"><BR></P>
<P style="line-height:17pt; margin:0pt; font-family:Arial">The Clinical Diagnostics segment reported net sales of $160.3 million for the quarter, up 5.5% compared to the prior-year quarter, or 10.9% excluding currency effects. &nbsp;These results are due in part to continued growth in the blood typing, blood virus screening, autoimmune testing and diabetes monitoring product lines. &nbsp;Following the placement of a substantial number of systems last year, reagent sales associated with the Company&#146;s Evolis<SUP>TM</SUP> automated microplate processors were up dramatically for the quarter. &nbsp;In addition, sales to low- and mid-volume customers in the diabetes monitoring market benefited from the March release of the Company&#146;s new Rack Loader for use in conjunction with the D-10<SUP>TM</SUP> Hemoglobin Testing System, expanding the sample handling capacity of the system to 50 samples. &nbsp;These benefits were partially offset, however, by increased competition in the high-volume segment of the mar
ket.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:17pt; margin:0pt; font-family:Arial">&#147;The year is getting off to an excellent start, with sales in most regions meeting or exceeding expectations,&#148; said Norman Schwartz, President and Chief Executive Officer. &nbsp;&#147;As the year unfolds, we will continue to work on a number of projects aimed at growing our core businesses and improving operational efficiency over the longer term.&#148;</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:17pt; margin:0pt; font-family:Arial">Management will discuss these results in a conference call at 2 p.m. Pacific Daylight Time (5 p.m. Eastern Daylight Time) May 4, 2006. Interested parties can access the call by dialing (866) 713-8567 (in the U.S.), or (617) 597-5326 (international), access number 34910773. &nbsp;The live webcast can be accessed at <I>http://www.bio-rad.com.</I> &nbsp;A replay of the call will be available at (888) 286-8010 (in the U.S.), or (617) 801-6888 (international), access number 96738625, for seven days following the call and the webcast can be accessed at <I>http://www.bio-rad.com</I> for 30 days.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:17pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial"><B>About Bio-Rad</B></P>
<P style="line-height:17pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">Bio-Rad Laboratories, Inc., is a multinational manufacturer and distributor of life science research products and </P>
<P style="line-height:16pt; margin:0pt; font-family:Arial" align=center>(more)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR>
<BR></P>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=493.2></TD></TR>
<TR><TD valign=top width=657.6><P style="line-height:17pt; margin:0pt; font-family:Arial"><B><I>Bio-Rad Reports First-Quarter Results</I></B></P>
<P style="line-height:17pt; margin:0pt; font-family:Arial"><B><I>Page 3</I></B></P>
<P style="margin-top:0pt; margin-bottom:5pt"><BR></P>
<P style="line-height:17pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">clinical diagnostics. &nbsp;Based in Hercules, California, Bio-Rad serves more than 70,000 research and industry customers worldwide through a network of more than 30 wholly owned subsidiary offices.</P>
<P style="margin:0pt"><BR></P>
<P style="line-height:22pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial"><I>Various statements made within this press release may constitute &#147;forward-looking statements&#148; for purposes of the Securities and Exchange Commission&#146;s &#147;safe harbor&#148; provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. The forward-looking statements contained herein involve risks and uncertainties that could cause results to differ materially from the Company&#146;s expectations.</I></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:16pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial"><B>For more information contact:</B></P>
<P style="line-height:16pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">Christine Tsingos, Vice President and Chief Financial Officer, or</P>
<P style="line-height:16pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">Ron Hutton, Treasurer</P>
<P style="line-height:16pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">Bio-Rad Laboratories, Inc.</P>
<P style="line-height:16pt; margin-top:0pt; margin-bottom:5pt; font-family:Arial">Phone: &nbsp;(510) 724-7000</P>
<P style="line-height:17pt; margin:0pt; font-family:Arial">E-mail: &nbsp;investor relations @ bio-rad.com</P>
</TD></TR>
</TABLE>
<P style="line-height:16pt; margin:0pt; font-family:Arial" align=center>###</P>
<P style="margin:0pt" align=center><BR>
<BR></P>
<P style="margin:0pt; padding-left:10.8pt; font-family:Arial; page-break-before:always" align=center>Bio-Rad Laboratories, Inc.</P>
<P style="margin:0pt; padding-left:10.8pt; font-family:Arial" align=center>Consolidated Statements of Income</P>
<P style="margin:0pt; padding-left:10.8pt; font-family:Arial" align=center>(in thousands, except per share data)</P>
<P style="margin:0pt; padding-left:10.8pt; font-family:Arial" align=center>(Unaudited)</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=315></TD><TD width=5.65></TD><TD width=57.35></TD><TD width=9></TD><TD width=56.25></TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=171 colspan=4><P style="margin:0pt; font-family:Arial" align=center>Three Months Ended</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=171 colspan=4><P style="margin:0pt; font-family:Arial" align=center>March 31,</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=76.467><P style="margin:0pt; font-family:Arial" align=center>2006</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=75><P style="margin:0pt; font-family:Arial" align=center>2005</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=top width=76.467>&nbsp;</TD><TD valign=top width=12>&nbsp;</TD><TD valign=top width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Net sales</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;308,338&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;299,171&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:14.4pt; font-family:Arial">Cost of good sold</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>132,810&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>132,765&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Gross profit</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>175,528&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>166,406&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Selling, general and administrative expense</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>100,070&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>99,498&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Product research and development expense</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>28,091&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>26,823&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Interest expense</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>8,019&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>8,117&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Foreign exchange (gains) losses, net</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>11&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>(277)</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Other (income) expense, net</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>(4,542)</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>(5,838)</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Income from continuing operations before taxes</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>43,879&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>38,083&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:14.4pt; font-family:Arial">Provision for income taxes</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>12,681&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>8,563&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Income from continuing operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>31,198&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>29,520&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Discontinued operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467>&nbsp;</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:14.4pt; font-family:Arial">Gain on divestiture, net of tax benefits of zero in 2005</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>--&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>3,974&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Net income</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,198&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;33,494&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=top width=76.467>&nbsp;</TD><TD valign=top width=12>&nbsp;</TD><TD valign=top width=75>&nbsp;</TD></TR>
<TR><TD valign=bottom width=420><P style="margin:0pt; font-family:Arial">Basic earnings per share:</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=top width=76.467>&nbsp;</TD><TD valign=top width=12>&nbsp;</TD><TD valign=top width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Continuing operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;</P>
</TD><TD width=12>&nbsp;</TD><TD width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Discontinued operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=76.467><P style="margin:0pt; font-family:Arial" align=right>--&nbsp;</P>
</TD><TD width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=75><P style="margin:0pt; font-family:Arial" align=right>0.15&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Net income</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.19&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD width=76.467>&nbsp;</TD><TD width=12>&nbsp;</TD><TD width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Weighted average common shares</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>26,277&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>25,909&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467>&nbsp;</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; font-family:Arial">Diluted earnings per share:</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467>&nbsp;</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Continuing operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Discontinued operations</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>--&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>0.15&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Net income</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.16&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467>&nbsp;</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=420><P style="margin:0pt; text-indent:21.6pt; font-family:Arial">Weighted average common shares</P>
</TD><TD valign=top width=7.533>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=76.467><P style="margin:0pt; font-family:Arial" align=right>26,829&nbsp;</P>
</TD><TD valign=bottom width=12>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=75><P style="margin:0pt; font-family:Arial" align=right>26,555&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=420>&nbsp;</TD><TD valign=top width=7.533>&nbsp;</TD><TD valign=bottom width=76.467>&nbsp;</TD><TD valign=bottom width=12>&nbsp;</TD><TD valign=bottom width=75>&nbsp;</TD></TR>
<TR><TD valign=top width=591 colspan=5>&nbsp;</TD></TR>
</TABLE>
<P style="line-height:16pt; margin:0pt" align=justify><BR></P>
<P style="margin:0pt"><BR>
<BR></P>
<P style="margin:0pt; page-break-before:always"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=292.4></TD><TD width=12.5></TD><TD width=69></TD><TD width=12.5></TD><TD width=69></TD></TR>
<TR><TD valign=top width=607.2 colspan=5><P style="margin:0pt; font-family:Arial" align=center>BIO-RAD LABORATORIES, INC</P>
</TD></TR>
<TR><TD valign=top width=607.2 colspan=5><P style="margin:0pt; font-family:Arial" align=center>Condensed Consolidated Balance Sheets</P>
</TD></TR>
<TR><TD valign=top width=607.2 colspan=5><P style="margin:0pt; font-family:Arial" align=center>(In thousands)</P>
</TD></TR>
<TR><TD valign=top width=607.2 colspan=5><P style="margin:0pt; font-family:Arial" align=center>&nbsp;(Unaudited)</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=200.667 colspan=3>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=92><P style="margin:0pt; font-family:Arial; font-size:9pt" align=center>March 31, </P>
<P style="margin:0pt; font-family:Arial; font-size:9pt" align=center>2006</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=92><P style="margin:0pt; font-family:Arial; font-size:9pt" align=center>December 31,</P>
<P style="margin:0pt; font-family:Arial; font-size:9pt" align=center>2005</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Current Assets:</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Cash and cash equivalents </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265,587&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296,716&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Restricted cash</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>--&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>36,138&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Short-term investments</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>129,176&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>116,343&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Accounts receivable, net </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>259,231&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>247,192&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="line-height:11pt; margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Inventories, net </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>225,844&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>212,342&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Other current assets</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>111,811&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>99,480&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:21.6pt; font-family:Arial; font-size:9pt">Total current assets </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>991,649&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>1,008,211&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Net property, plant and equipment </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>180,774&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>180,258&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Goodwill </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>113,276&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>113,276&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Purchased intangibles, net</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>27,269&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>28,449&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Other assets </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>101,817&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>96,388&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:21.6pt; font-family:Arial; font-size:9pt">Total assets</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:2pt double #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,414,785&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:2pt double #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,426,582&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Current liabilities:</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Notes payable and current maturities of long-term debt</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,785&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,341&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Accounts payable</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>66,643&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>72,950&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Accrued payroll and employee benefits</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>67,921&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>81,076&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Sales, income and other taxes payable</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>22,268&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>15,841&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:14.4pt; font-family:Arial; font-size:9pt">Other current liabilities</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>91,021&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>146,035&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:21.6pt; font-family:Arial; font-size:9pt">Total current liabilities</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>251,638&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>319,243&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Long-term debt, net of current maturities</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>425,971&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>425,687&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Other long-term liabilities</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>34,521&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>23,678&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; font-family:Arial; font-size:9pt">Stockholders&#146; equity</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>702,655&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>657,974&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867><P style="margin:0pt; text-indent:21.6pt; font-family:Arial; font-size:9pt">Total liabilities and stockholders&#146; equity </P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:2pt double #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,414,785&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:2pt double #000000" width=92><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,426,582&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=389.867>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD width=92>&nbsp;</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=92>&nbsp;</TD></TR>
<TR><TD valign=top width=607.2 colspan=5>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt" align=center><BR>
<BR></P>
<P style="margin:0pt; page-break-before:always" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=306></TD><TD width=73.3></TD><TD width=11.8></TD><TD width=1.3></TD><TD width=66.6></TD></TR>
<TR><TD valign=top width=612 colspan=5><P style="margin:0pt; font-family:Arial" align=center>BIO-RAD LABORATORIES, INC.</P>
</TD></TR>
<TR><TD valign=top width=612 colspan=5><P style="margin:0pt; font-family:Arial" align=center>Condensed Consolidated Statements of Cash Flows</P>
</TD></TR>
<TR><TD valign=top width=612 colspan=5><P style="margin:0pt; font-family:Arial" align=center>(in thousands)</P>
</TD></TR>
<TR><TD valign=top width=612 colspan=5><P style="margin:0pt; font-family:Arial" align=center>(Unaudited)</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=17.467 colspan=2>&nbsp;</TD><TD valign=top width=88.8>&nbsp;</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD valign=top width=204 colspan=4><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=center>Three Months Ended</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=204 colspan=4><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=center>March 31,</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=97.733><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=center>2006</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=90.533 colspan=2><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=center>2005</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Cash flows from operating activities:</P>
</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Cash received from customers</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299,764&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296,648&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Cash paid to suppliers and employees</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(282,673)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(259,242)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Interest paid</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(8,938)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>(8,973)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Income tax payments</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(9,562)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>(6,532)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Litigation settlement related to MJ acquisition </P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(45,467)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>--&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Other operating activities</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>4,805&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>2,982&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Net cash provided by (used in) operating activities</P>
</TD><TD style="border-top:0.5pt solid #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(42,071)</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-top:0.5pt solid #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>24,883&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Cash flows from investing activities:</P>
</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Capital expenditures, net</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(11,318)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>(9,774)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Receipt of restricted cash</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>36,498&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>--&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Other investing activities</P>
</TD><TD style="border-bottom:0.5pt solid #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(16,943)</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>103,659&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Net cash provided by investing activities</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>8,237&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>93,885&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Cash flows from financing activities:</P>
</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Proceeds from issuance of common stock</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>2,323&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>2,708&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Other financing activities</P>
</TD><TD style="border-bottom:0.5pt solid #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>373&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>87&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Net cash provided by financing activities</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>2,696&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>2,795&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Effect of exchange rate changes on cash </P>
</TD><TD style="border-bottom:0.5pt solid #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>9&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>601&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD width=97.733>&nbsp;</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Net increase (decrease) in cash and cash equivalents</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(31,129)</P>
</TD><TD width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>122,164&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Cash and cash equivalents at beginning of period</P>
</TD><TD style="border-bottom:0.5pt solid #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>296,716&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>195,734&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Cash and cash equivalents at end of period</P>
</TD><TD style="border-bottom:2pt double #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265,587&nbsp;</P>
</TD><TD width=15.733>&nbsp;</TD><TD style="border-bottom:2pt double #000000" width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317,898&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=612 colspan=5><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Reconciliation of net income to net cash provided by operating activities: </P>
</TD></TR>
<TR><TD valign=top width=408><P style="margin-top:0pt; margin-bottom:0.75pt"><BR></P>
</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Net Income</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,198&nbsp;</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33,494&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Adjustments to reconcile net income to net cash</P>
</TD><TD width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">provided by operating activities </P>
</TD><TD width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Depreciation and amortization</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>12,971&nbsp;</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>15,171</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Changes in working capital </P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(52,513)</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>(6,905)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Litigation settlement related to MJ acquisition</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>(45,467)</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>--&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; text-indent:7.2pt; font-family:Arial; font-size:9pt">Other</P>
</TD><TD width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>11,740&nbsp;</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD width=90.533 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt" align=right>(16,877)</P>
</TD></TR>
<TR><TD valign=top width=408><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt">Net cash provided by (used in) operating activities</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" width=97.733><P style="line-height:9pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42,071)</P>
</TD><TD valign=top width=15.733><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>&nbsp;&nbsp;</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" width=90.533 colspan=2><P style="line-height:11pt; margin:0pt; font-family:Arial; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,883&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=408>&nbsp;</TD><TD valign=top width=97.733>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=505.733 colspan=2><P style="line-height:11pt; margin-top:0pt; margin-bottom:0.75pt; font-family:Arial; font-size:9pt"><I>Certain items have been reclassified to conform to the current year presentation.</I></P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=90.533 colspan=2>&nbsp;</TD></TR>
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