Bio-Rad Labs (NYSE: BIO) reported Q2 EPS of $0.17, $0.39 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $504.7 million versus the consensus estimate of $515.78 million.

For the full year 2017, the Company continues to anticipate currency-neutral organic sales growth of approximately 4 percent, which assumes a substantial portion of the lower revenue due to the transition to a new ERP system will be recovered by the end of the year. Further, the addition of the recently acquired RainDance Technologies could add up to another 1 percent of growth in sales for the full year.

With the lower than anticipated operating profit in the first half of 2017 and including the addition of RainDance, the Company is lowering its estimate for currency-neutral operating profit for the full year from the previously stated 7 percent of sales to now be in the 6 to 6.5 percent range.

"While 2017 will be another year of relatively modest operating margin especially with the inclusion of substantial acquisition-related expense, we are focused on completing these foundational investments and harvesting the benefits of a more efficient and cost effective operating model," Mr. Schwartz said. "We look forward to sharing more insight to our long term plans with the investment community at our Investor Day to be held in New York later this year."

For earnings history and earnings-related data on Bio-Rad Labs (BIO) click here.