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Segment Results - 1st Quarter Fiscal Year 2007
- TECHNE Corporation and Subsidiaries
- Hematology Division
- Biotechnology Division
- R&D Systems Europe (in £'s)
- R&D Systems Europe (in $'s)
- Corporate and Other
(in thousands of $’s, except per share data)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 52,351 | 100% | 4,642 |
| Cost of sales | 11,237 | 21% | 141 |
| Gross margin | 41,114 | 79% | 4,501 |
| Gross margin percentage | 78.5% | ||
| SG&A expense | 7,067 | 13% | 613 |
| R&D expense | 4,855 | 9% | 138 |
| Amortization expense | 403 | 1% | (89) |
| Interest expense | 268 | 1% | 45 |
| Interest income | (1,676) | (3%) | (702) |
| Othernon-operating exp., net | 485 | 1% | 274 |
| 11,402 | 22% | 279 | |
| Earnings before income taxes | 29,712 | 57% | 4,222 |
| Income taxes | 10,081 | 20% | 1,592 |
| 19,631 | 37% | 2,630 | |
| Diluted earnings per share | .50 | ||
| Weighted average diluted shares outstanding | 39,469 | ||
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease)From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 3,502 | 100% | (32) |
| Cost of sales | 2,098 | 60% | (7) |
| Gross margin | 1,404 | 40% | (25) |
| Gross margin percentage | 40.1% | ||
| SG&A expense | 398 | 11% | 14 |
| R&D expense | 180 | 5% | (5) |
| Interest, net | (81) | (2%) | (44) |
| 497 | 14% | (35) | |
| Pretax result | 907 | 26% | 10 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 41,621 | 100% | 4,022 |
| Intersegment sales | (5,699) | (400) | |
| 35,922 | 3,622 | ||
| Cost of sales | 8,482 | 20% | 12 |
| Intersegment sales | (5,524) | (201) | |
| 2,958 | (189) | ||
| Gross margin | 32,964 | 80% | 3,811 |
| Gross margin percentage | 79.6% | ||
| SG&A expense | 4,013 | 10% | 374 |
| R&D expense | 4,675 | 11% | 143 |
| Amortization expense | 403 | 1% | (89) |
| Interest, net | (595) | (1%) | (327) |
| 8,496 | 21% | 101 | |
| Pretax result | 24,468 | 59% | 3,710 |
(1) Fiscal 2006 includes R&D Systems' Biotechnology Division, Fortron Bio Science, Inc., and BiosPacific, Inc.
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(in thousands of £'s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 6,870 | 100% | 180 |
| Cost of sales | 3,285 | 48% | (7) |
| Gross margin | 3,585 | 52% | 187 |
| Gross margin percentage | 52.2% | ||
| SG&Aexpense | 1,074 | 16% | 70 |
| Interest income | (410) | (6%) | (84) |
| Exchange loss/(gain) | 78 | 1% | 63 |
| 742 | 11% | 49 | |
| Pretax result | 2,843 | 41% | 138 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 12,927 | 100% | 1,052 |
| Cost of sales | 6,181 | 48% | 337 |
| Gross margin | 6,746 | 52% | 715 |
| Gross margin percentage | 52.2% | ||
| SG&A expense | 2,020 | 16% | 238 |
| Interest income | (771) | (6%) | (192) |
| Exchangeloss | 147 | 1% | 119 |
| 1,396 | 11% | 165 | |
| Pretax result | 5,350 | 41% | 550 |
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(in thousands of $’s)
| Fiscal 2006 | Increase(Decrease) From Fiscal 2007 | |
| First Quarter | First Quarter | |
| Interest income | 229 | 139 |
| Rental income | 299 | (43) |
| 528 | 96 | |
| SG&A expense | 636 | (13) |
| Interest expense | 268 | 45 |
| Other-Hemerus losses | 510 | 67 |
| Other-Building expenses | 127 | 45 |
| 1,541 | 144 | |
| Pretax result | 1,013) | (48) |
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(2) Unallocated corporate expenses and Techne’s share of losses by Hemerus Medical, LLC