HERCULES, Calif. (AP) — HERCULES, Calif. (AP) — Bio-Rad Laboratories Inc. (BIO) on Tuesday reported first-quarter earnings of $383.9 million.

The Hercules, California-based company said it had net income of $13.45 per share. Earnings, adjusted for non-recurring gains, came to $2.29 per share.

The maker of instruments used in biomedical research posted revenue of $610.8 million in the period.

Bio-Rad shares have dropped 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $279.91, a decrease of 26% in the last 12 months.

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