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Segment Results - 1st Quarter Fiscal Year 2008
- 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 2008 | Increase(Decrease) From Fiscal 2007 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 57,987 | 100% | 5,636 |
| Cost of sales | 12,104 | 21% | 867 |
| Gross margin | 45,883 | 79% | 4,769 |
| Gross margin percentage | 79.1% | ||
| SG&A expense | 8,090 | 14% | 1,023 |
| R&D expense | 5,181 | 9% | 326 |
| Amortization expense | 288 | - | (115) |
| Interest expense | 0 | - | (268) |
| Interest income | (2,998) | (5%) | (1,322) |
| Other non-operating exp., net | 569 | 1% | 84 |
| 11,130 | 19% | (272) | |
| Earnings before income taxes | 34,753 | 60% | 5,041 |
| Income taxes | 11,681 | 20% | 1,600 |
| 23,072 | 40% | 3,441 | |
| Diluted earnings per share | .58 | ||
| Weighted average diluted shares outstanding | 39,587 | ||
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease)From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 3,657 | 100% | 155 |
| Cost of sales | 2,261 | 62% | 163 |
| Gross margin | 1,396 | 38% | (8) |
| Gross margin percentage | 38.2% | ||
| SG&A expense | 467 | 13% | 69 |
| R&D expense | 179 | 5% | (1) |
| Interest, net | (120) | (4%) | (39) |
| 526 | 14% | 29 | |
| Pretax result | 870 | 24% | (37) |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 45,328 | 100% | 3,707 |
| Intersegment sales | (6,447) | (748) | |
| 38,881 | 2,959 | ||
| Cost of sales | 8,997 | 20% | 515 |
| Intersegment sales | (6,174) | (650) | |
| 2,823 | (135) | ||
| Gross margin | 36,058 | 80% | 3,094 |
| Gross margin percentage | 80.2% | ||
| SG&A expense | 4,624 | 10% | 611 |
| R&D expense | 5,002 | 11% | 327 |
| Amortization expense | 288 | 1% | (115) |
| Interest, net | (1,257) | (2%) | (662) |
| Echange loss/(gain) | 34 | -- | 34 |
| 8,691 | 20% | 195 | |
| Pretax result | 27,367 | 60% | 2,899 |
(1) Includes R&D Systems' Biotechnology Division, BiosPacific,
Inc. and R&D China
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(in thousands of £'s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 7,605 | 100% | 735 |
| Cost of sales | 3,455 | 45% | 170 |
| Gross margin | 4,150 | 55% | 565 |
| Gross margin percentage | 54.6% | ||
| SG&Aexpense | 1,114 | 15% | 40 |
| Interest income | (683) | (9%) | (273) |
| Exchange loss/(gain) | (96) | (1%) | (174) |
| 335 | 5% | (407) | |
| Pretax result | 3,815 | 50% | 972 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||
| First Quarter | Percent Of Sales | First Quarter | |
| Sales | 15,449 | 100% | 2,522 |
| Cost of sales | 7,020 | 45% | 839 |
| Gross margin | 8,429 | 55% | 1,683 |
| Gross margin percentage | 54.6% | ||
| SG&A expense | 2,262 | 15% | 242 |
| Interest income | (1,387) | (9%) | (616) |
| Exchangeloss | (198) | (1%) | (345) |
| 677 | 5% | (719) | |
| Pretax result | 7,752 | 50% | 2,402 |
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(in thousands of $’s)
| Fiscal 2006 | Increase(Decrease) From Fiscal 2007 | |
| First Quarter | First Quarter | |
| Interest income | 234 | 5 |
| Rental income | 67 | (232) |
| 301 | (227) | |
| SG&A expense | 737 | 101 |
| Interest expense | -- | (268) |
| Other-Building expenses | 544 | 34 |
| Other-Hemerus losses | 131 | 4 |
| Other-Nephromics losses | 125 | 125 |
| 1,537 | (4) | |
| Pretax result | (1,236) | (223) |
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(2) Unallocated corporate expenses and Techne’s share of losses by Hemerus Medical, LLC