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 Third Percent First Second Third
Qtr. Qtr. Qtr. YTD Of Sales Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ------ ----- ----- ----- -----
Sales 67,945 67,708 76,271 211,924 100% 1,411 2,187 5,993 9,591
Cost of sales 15,241 15,218 15,833 46,292 22% 2,340 1,889 1,434 5,663
------ ------ ------ ------- ------ ----- ----- ----- -----
Gross margin 52,704 52,490 60,438 165,632 78% (929) 298 4,559 3,928
Gross margin
percentage 77.6% 77.5% 79.2% 78.2%
SG&A expense 7,552 8,365 9,233 25,150 12% (486) (642)1,567 439
R&D expense 6,619 6,603 6,297 19,519 8% 465 212 (28) 649
Amortization
expense 170 171 170 511 -- (70) (69) (70) (209)
Interest
income (847) (1,020) (1,067) (2,934) (1%) 321 136 (27) 430
Other non-oper-
ating ex., net 257 698 421 1,376 1% (405) (313) (828)(1,546)
------ ------ ------ ------- ------ ----- ----- ----- -----
13,751 14,817 15,054 43,622 20% (175) (676) 614 (237)
------ ------ ------ ------- ------ ----- ----- ----- -----
Earnings before
income taxes 38,953 37,673 45,384 122,010 58% (754) 974 3,945 4,165
Income taxes 12,580 11,139 14,320 38,039 18% (355) (839)5,269 4,075
------ ------ ------ ------- ------ ----- ----- ----- -----
26,373 26,534 31,064 83,971 40% (399) 1,813(1,324) 90
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Diluted earnings
per share 0.71 0.71 0.84 2.26
Weighted average
diluted shares
outstanding 37,107 37,156 37,194 37,153
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
------------------------------------- -------------------------
First Second Third Percent First Second Third
Qtr. Qtr. Qtr. YTD Of Sales Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ------ ----- ----- ----- -----
Sales 54,141 52,652 59,190 165,983 100% 2,445 1,949 4,954 9,348
Intersegment
sales (7,491) (8,217) (9,251)(24,959) 177 65(1,194) (952)
------ ------ ------ ------- ----- ----- ----- -----
46,650 44,435 49,939 141,024 2,622 2,014 3,760 8,396
Cost of sales 11,689 11,665 11,860 35,214 21% 1,804 1,539 701 4,044
Intersegment
sales (7,578) (8,251) (9,048)(24,877) 20 (498) (712)(1,190)
------ ------ ------ ------- ------ ----- ----- ----- -----
4,111 3,414 2,812 10,337 1,824 1,041 (11) 2,854
Gross margin 42,539 41,021 47,127 130,687 79% 798 973 3,771 5,542
Gross margin
percentage 78.4% 77.8% 80.0% 78.8%
SG&A expense 4,583 4,780 5,691 15,054 9% (151) (276)1,066 639
R&D expense 6,421 6,379 6,104 18,904 12% 465 189 (23) 631
Amortization
expense 170 171 170 511 -- (70) (69) (70) (209)
Interest income (581) (715) (763) (2,059) (1%) 190 57 (57) 190
Exchange loss/
gain (8) (10) (7) (25) -- (10) (11) (7) (28)
------ ------ ------ ------- ------ ----- ----- ----- -----
10,585 10,605 11,195 32,385 20% 424 (110) 909 1,223
------ ------ ------ ------- ------ ----- ----- ----- -----
Pretax result 31,954 30,416 35,932 98,302 59% 374 1,083 2,862 4,319
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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 Third Percent First Second Third
Qtr. Qtr. Qtr. YTD Of Sales Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ------ ----- ----- ----- -----
Sales 10,571 11,767 13,218 35,556 100% (310) 305 922 917
Cost of sales 5,561 5,742 6,477 17,780 50% 500 454 653 1,607
------ ------ ------ ------- ------ ----- ----- ----- -----
Gross margin 5,010 6,025 6,741 17,776 50% (810) (149) 269 (690)
Gross margin
percentage 47.4% 51.2% 51.0% 50.0%
SG&A expense 1,188 1,274 1,356 3,818 11% (3) (44) 96 49
Interest income (52) (65) (68) (185) (1%) 35 14 0 49
Exchange loss/
(gain) (323) 58 (150) (415) (1%) (234) (3) (387) (624)
------ ------ ------ ------- ------ ----- ----- ----- -----
813 1,267 1,138 3,218 9% (202) (33) (291) (526)
------ ------ ------ ------- ------ ----- ----- ----- -----
Pretax result 4,197 4,758 5,603 14,558 41% (608) (116) 560 (164)
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R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
------------------------------------- -------------------------
First Second Third Percent First Second Third
Qtr. Qtr. Qtr. YTD Of Sales Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ------ ----- ----- ----- -----
Sales 16,391 18,645 21,181 56,217 100% (1,447) (130)2,020 443
Cost of sales 8,621 9,097 10,379 28,097 50% 326 433 1,308 2,067
------ ------ ------ ------- ------ ----- ----- ----- -----
Gross margin 7,770 9,548 10,802 28,120 50% (1,773) (563) 712 (1,624)
Gross margin
percentage 47.4% 51.2% 51.0% 50.0%
SG&A expense 1,842 2,017 2,173 6,032 11% (110) (142) 206 (46)
Interest income (81) (103) (108) (292) (1%) 62 25 0 87
Exchange loss/
(gain) (497) 97 (242) (642) (1%) (352) (2) (614) (968)
------ ------ ------ ------- ------ ----- ----- ----- -----
1,264 2,011 1,823 5,098 9% (400) (119) (408) (927)
------ ------ ------ ------- ------ ----- ----- ----- -----
Pretax result 6,506 7,537 8,979 23,022 41% (1,373) (444)1,120 (697)
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HEMATOLOGY
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
------------------------------------- -------------------------
First Second Third Percent First Second Third
Qtr. Qtr. Qtr. YTD Of Sales Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ------ ----- ----- ----- -----
Sales 4,904 4,628 5,151 14,683 100% 236 303 213 752
Cost of sales 2,509 2,707 2,642 7,858 54% 190 415 137 742
------ ------ ------ ------- ------ ----- ----- ----- -----
Gross margin 2,395 1,921 2,509 6,825 46% 46 (112) 76 10
Gross margin
percentage 48.8% 41.5% 48.7% 46.5%
SG&A expense 328 336 438 1,102 7% (42) (30) 92 20
R&D expense 198 224 193 615 4% -- 23 (5) 18
Interest income (53) (66) (69) (188) (1%) 19 6 (4) 21
------ ------ ------ ------- ------ ----- ----- ----- -----
473 494 562 1,529 10% (23) (1) 83 59
------ ------ ------ ------- ------ ----- ----- ----- -----
Pretax result 1,922 1,427 1,947 5,296 36% 69 (111) (7) (49)
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2011 From Fiscal 2010
------------------------------ ------------------------
First Second Third First Second Third
Qtr. Qtr. Qtr. YTD Qtr. Qtr. Qtr. YTD
------ ------ ------ ------- ----- ----- ----- -----
Interest income 132 136 127 395 (50) (48) (34) (132)
Rental income 123 138 114 375 42 23 31 96
------ ------ ------ ------- ----- ----- ----- -----
255 274 241 770 (8) (25) (3) (36)
SG&A expense 799 1,232 931 2,962 (183) (194) 203 (174)
Other-Building
expenses 556 531 586 1,673 8 1 (7) 2
Other-Equity
Investment losses 329 218 198 745 (9) (278) (169) (456)
------ ------ ------ ------- ----- ----- ----- -----
1,684 1,981 1,715 5,380 (184) (471) 27 (628)
------ ------ ------ ------- ----- ----- ----- -----
Pretax result (1,429) (1,707) (1,474) (4,610) 176 446 (30) 592
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(2) Unallocated corporate expenses and Techne's share of
losses by Hemerus Medical, LLC and Nephromics, LLC
