Yahoo Finance Bio-Rad Laboratories, Inc. (NYSE:BIO) Q1 2024 Earnings Call Transcript
Bio-Rad Laboratories, Inc. (NYSE:BIO) Q1 2024 Earnings Call Transcript May 7, 2024
Bio-Rad Laboratories, Inc. isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good afternoon everyone, and welcome to today's Bio-Rad First Quarter 2024 Earnings Results Conference Call. At this time, all lines are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. [Operator Instructions] And now at this time, I'll turn things over to Mister Edward Chung, head of investor relations. Please go ahead, Mister Chung.
Edward Chung: Thanks, Jenny. Good afternoon, everyone, and thank you for joining us. Today, we will review the first quarter 2024 financial results and provide an update on key business trends for Bio-Rad. With me on the call today are Norman Schwartz, our Chief Executive Officer; Andy Last, Executive Vice President and Chief Operating Officer; and Simon May, President of the Life Science Group. Before we begin our review, I would like to caution everyone that we will be making forward-looking statements about management’s goals, plans and expectations, our future financial performance and other matters. These statements are based on assumptions and expectations of future events that are subject to risks and uncertainties.
Our actual results may differ materially from these plans, goals and expectations. You should not place undue reliance on these forward-looking statements and I encourage you to review our filings with the SEC where we discuss in detail the risk factors in our business. The company does not intend to update any forward-looking statements made during the call today. Finally, our remarks today will include references to non-GAAP financials, including net income and diluted earnings per share, which are financial measures that are not defined under Generally Accepted Accounting Principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in our earnings release. With that, I'll now turn the call over to our CEO, Norman Schwartz.
Norman Schwartz: Thanks Ed. First, what I want to do is officially welcome and introduce Roop Lakkaraju, our new CFO. He comes to us with a wealth of financial and operational experience, which will certainly be valuable as we move forward. Roop has now been on-board about four weeks and already contributing. In fact, Roop will walk you through our financial results for the first quarter in a few minutes, but I just want to say a few words. We have received questions about management turnover and succession in the last six months. I thought it would be useful to say a few words. So, in short, as I think about it, each of these discrete departures is really centered around personal decisions either related to other opportunities or, or retirement.
From my perspective, it's all part of a normal progression for these individuals and for the company. And of course, with all of these individuals, I just want to take a minute to recognize and thank them for their contributions. So as we move forward, we are making good progress filling some of these open positions. Some positions are being filled with external candidates like Roop, which gives the company an opportunity to bring in fresh outside experience and perspective. And others are being filled with internal candidates like Jim Berry, who we've recently announced as our new Head of Life Science. Jim brings a deep understanding of the company, along with significant expertise in a variety of areas. So as I think about it today, with Roop on board, the finance team is fully staffed and we're close to an announcement on the new head of diagnostics.
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