Attached files
SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Fiscal 2011 Increase (Decrease) From Fiscal 2010
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First Second Third Fourth Percent First Second Third Fourth
Quarter Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter Quarter YTD
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Sales 67,945 67,708 76,271 78,038 289,962 100% 1,411 2,187 5,993 11,324 20,915
Cost of sales 15,350 15,327 15,941 18,407 65,025 22% 2,340 1,889 1,434 4,464 10,127
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Gross margin 52,595 52,381 60,330 59,631 224,937 78% (929) 298 4,559 6,860 10,788
Gross margin
percentage 77.4% 77.4% 79.1% 76.4% 77.6%
SG&A expense 7,613 8,427 9,295 10,562 35,897 12% (556) (711) 1,497 2,967 3,197
R&D expense 6,619 6,603 6,297 6,466 25,985 9% 465 212 (28) 215 864
Interest income (847) (1,020) (1,067) (818) (3,752) (1%) 321 136 (27) 193 623
Other non-oper-
ating ex., net 257 698 421 450 1,826 1% (405) (313) (828) (885) (2,431)
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13,642 14,708 14,946 16,660 59,956 21% (175) (676) 614 2,490 2,253
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Earnings before
income taxes 38,953 37,673 45,384 42,971 164,981 57% (754) 974 3,945 4,370 8,535
Income taxes 12,580 11,139 14,320 14,640 52,679 18% (355) (839) 5,269 1,933 6,008
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26,373 26,534 31,064 28,331 112,302 39% (399) 1,813 (1,324) 2,437 2,527
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Diluted earnings
per share 0.71 0.71 0.84 0.76 3.02
Weighted average
diluted shares
outstanding 37,107 37,156 37,194 37,230 37,172
BIOTECHNOLOGY (1)
(in thousands of $'s)
Fiscal 2011 Increase (Decrease) From Fiscal 2010
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First Second Third Fourth Percent First Second Third Fourth
Quarter Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter Quarter YTD
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Sales 63,041 63,080 71,120 73,046 270,287 100% 1,175 1,884 5,780 10,795 19,634
Cost of sales 12,841 12,620 13,299 15,829 54,589 20% 2,150 1,474 1,297 4,389 9,310
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Gross margin 50,200 50,460 57,821 57,217 215,698 80% (975) 410 4,483 6,406 10,324
Gross margin
percentage 79.6% 80.0% 81.3% 78.3% 79.8%
SG&A expense 6,486 6,859 7,926 8,787 30,058 11% (331) (487) 1,202 2,163 2,547
R&D expense 6,421 6,379 6,104 6,272 25,176 9% 465 189 (23) 214 845
Interest income (662) (818) (871) (673) (3,024) (1%) 252 82 (57) 117 394
Exchange loss/
gain (505) 87 (249) (177) (844) -- (362) (13) (621) (808) (1,804)
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11,740 12,507 12,910 14,209 51,366 19% 24 (229) 501 1,686 1,982
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Pretax result 38,460 37,953 44,911 43,008 164,332 61% (999) 639 3,982 4,720 8,342
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(1) Includes R&D Systems' Biotechnology Division, R&D Systems Europe,
BiosPacific, R&D China, Boston Biochem and Tocris.
HEMATOLOGY
(in thousands of $'s)
Fiscal 2011 Increase (Decrease) From Fiscal 2010
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First Second Third Fourth Percent First Second Third Fourth
Quarter Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter Quarter YTD
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Sales 4,904 4,628 5,151 4,992 19,675 100% 236 303 213 529 1,281
Cost of sales 2,509 2,707 2,642 2,578 10,436 53% 190 415 137 75 817
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Gross margin 2,395 1,921 2,509 2,414 9,239 47% 46 (112) 76 454 464
Gross margin
percentage 48.8% 41.5% 48.7% 48.4% 47.0%
SG&A expense 328 336 438 349 1,451 7% (42) (30) 92 38 58
R&D expense 198 224 193 194 809 4% -- 23 (5) 1 19
Interest income (53) (66) (69) (55) (243) (1%) 19 6 (4) 13 34
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473 494 562 488 2,017 10% (23) (1) 83 52 111
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Pretax result 1,922 1,427 1,947 1,926 7,222 37% 69 (111) (7) 402 353
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Fiscal 2011 Increase (Decrease) From Fiscal 2010
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First Second Third Fourth First Second Third Fourth
Quarter Quarter Quarter Quarter YTD Quarter Quarter Quarter Quarter YTD
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Interest income 132 136 127 90 485 (50) (48) (34) (63) (195)
Rental income 123 138 114 174 549 42 23 31 40 136
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255 274 241 264 1,034 (8) (25) (3) (23) (59)
SG&A expense 799 1,232 931 1,426 4,388 (183) (194) 203 766 592
Other-Building
expenses 556 531 586 620 2,293 8 1 (7) 91 93
Other-Equity
Investment losses 329 218 198 181 926 (9) (278) (169) (128) (584)
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1,684 1,981 1,715 2,227 7,607 (184) (471) 27 729 101
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Pretax result (1,429) (1,707) (1,474) (1,963) (6,573) 176 446 (30) (752) (160)
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(2) Unallocated corporate expenses and Techne's share
of losses by Hemerus Medical, LLC and Nephromics, LLC
