Attached files
SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
--------------------------------- ---------------------
First Second Percent First Second
Qtr. Qtr. YTD Of Sales Qtr. Qtr. YTD
------ ------ ------- --------- ------ ------ ------
Sales 67,945 67,708 135,653 100% 1,411 2,187 3,598
Cost of sales 15,241 15,218 30,459 22% 2,340 1,889 4,229
------ ------ ------- --------- ------ ------ ------
Gross margin 52,704 52,490 105,194 78% (929) 298 (631)
Gross margin
percentage 77.6% 77.5% 77.5%
SG&A expense 7,552 8,365 15,917 12% (486) (642)(1,128)
R&D expense 6,619 6,603 13,222 10% 465 212 677
Amortization expense 170 171 341 -- (70) (69) (139)
Interest income (847) (1,020) (1,867) (1%) 321 136 457
Other non-operating
ex., net 257 698 955 1% (405) (313) (718)
------ ------ ------- -------- ------ ------ ------
13,751 14,817 28,568 22% (175) (676) (851)
------ ------ ------- -------- ------ ------ ------
Earnings before
income taxes 38,953 37,673 76,626 56% (754) 974 220
Income taxes 12,580 11,139 23,719 17% (355) (839)(1,194)
------ ------ ------- -------- ------ ------ ------
26,373 26,534 52,907 39% (399) 1,813 1,414
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Diluted earnings
per share 0.71 0.71
Weighted average
diluted shares
outstanding 37,107 37,156
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
--------------------------------- ---------------------
First Second Percent First Second
Qtr. Qtr. YTD Of Sales Qtr. Qtr. YTD
------ ------ ------- --------- ------ ------ ------
Sales 54,141 52,652 106,793 100% 2,445 1,949 4,394
Intersegment sales (7,491) (8,217) (15,708) 177 65 242
------ ------ ------- ------ ------ ------
46,650 44,435 91,085 2,622 2,014 4,636
Cost of sales 11,689 11,665 23,354 22% 1,804 1,539 3,343
Intersegment sales (7,578) (8,251) (15,829) 20 (498) (478)
------ ------ ------- -------- ------ ------ ------
4,111 3,414 7,525 1,824 1,041 2,865
Gross margin 42,539 41,021 83,560 78% 798 973 1,771
Gross margin
percentage 78.4% 77.8% 78.1%
SG&A expense 4,583 4,780 9,363 9% (151) (276) (427)
R&D expense 6,421 6,379 12,800 12% 465 189 654
Amortization expense 170 171 341 -- (70) (69) (139)
Interest income (581) (715) (1,296) (1%) 190 57 247
Exchange loss/gain (8) (10) (18) -- (10) (11) (21)
------ ------ ------- -------- ------ ------ ------
10,585 10,605 21,190 20% 424 (110) 314
------ ------ ------- -------- ------ ------ ------
Pretax result 31,954 30,416 62,370 58% 374 1,083 1,457
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(1) Includes R&D Systems' Biotechnology Division, BiosPacific, Inc.
and R&D China
R&D SYSTEMS EUROPE
(in thousands of Br. pounds)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
--------------------------------- ---------------------
First Second Percent First Second
Qtr. Qtr. YTD Of Sales Qtr. Qtr. YTD
------ ------ ------- --------- ------ ------ ------
Sales 10,571 11,767 22,338 100% (310) 305 (5)
Cost of sales 5,561 5,742 11,303 51% 500 454 954
------ ------ ------- --------- ------ ------ ------
Gross margin 5,010 6,025 11,035 49% (810) (149) (959)
Gross margin
percentage 47.4% 51.2% 49.4%
SG&A expense 1,188 1,274 2,462 11% (3) (44) (47)
Interest income (52) (65) (117) (1%) 35 14 49
Exchange loss/(gain) (323) 58 (265) (1%) (234) (3) (237)
------ ------ ------- --------- ------ ------ ------
813 1,267 2,080 9% (202) (33) (235)
------ ------ ------- --------- ------ ------ ------
Pretax result 4,197 4,758 8,955 40% (608) (116) (724)
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R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
--------------------------------- ---------------------
First Second Percent First Second
Qtr. Qtr. YTD Of Sales Qtr. Qtr. YTD
------ ------ ------- --------- ------ ------ ------
Sales 16,391 18,645 35,036 100% (1,447) (130)(1,577)
Cost of sales 8,621 9,097 17,718 51% 326 433 759
------ ------ ------- --------- ------ ------ ------
Gross margin 7,770 9,548 17,318 49% (1,773) (563)(2,336)
Gross margin
percentage 47.4% 51.2% 49.4%
SG&A expense 1,842 2,017 3,859 11% (110) (142) (252)
Interest income (81) (103) (184) (1%) 62 25 87
Exchange loss/(gain) (497) 97 (400) (1%) (352) (2) (354)
------ ------ ------- --------- ------ ------ ------
1,264 2,011 3,275 9% (400) (119) (519)
------ ------ ------- --------- ------ ------ ------
Pretax result 6,506 7,537 14,043 40% (1,373) (444)(1,817)
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HEMATOLOGY
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
--------------------------------- ---------------------
First Second Percent First Second
Qtr. Qtr. YTD Of Sales Qtr. Qtr. YTD
------ ------ ------- --------- ------ ------ ------
Sales 4,904 4,628 9,532 100% 236 303 539
Cost of sales 2,509 2,707 5,216 55% 190 415 605
------ ------ ------- --------- ------ ------ ------
Gross margin 2,395 1,921 4,316 45% 46 (112) (66)
Gross margin
percentage 48.8% 41.5% 45.3%
SG&A expense 328 336 664 7% (42) (30) (72)
R&D expense 198 224 422 4% -- 23 23
Interest income (53) (66) (119) (1%) 19 6 25
------ ------ ------- --------- ------ ------ ------
473 494 967 10% (23) (1) (24)
------ ------ ------- --------- ------ ------ ------
Pretax result 1,922 1,427 3,349 35% 69 (111) (42)
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
----------------------- ---------------------
First Second First Second
Qtr. Qtr. YTD Qtr. Qtr. YTD
------ ------ ------- ------ ------ ------
Interest income 132 136 268 (50) (48) (98)
Rental income 123 138 261 42 23 65
------ ------ ------- ------ ------ ------
255 274 529 (8) (25) (33)
SG&A expense 799 1,232 2,031 (183) (194) (377)
Other-Building
expenses 556 531 1,087 8 1 9
Other-Equity
Investment losses 329 218 547 (9) (278) (287)
------ ------ ------- ------ ------ ------
1,684 1,981 3,665 (184) (471) (655)
------ ------ ------- ------ ------ ------
Pretax result (1,429) (1,707) (3,136) 176 446 622
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(2) Unallocated corporate expenses and Techne's share of
losses by Hemerus Medical, LLC and Nephromics, LLC
