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Segment Results - 2 nd 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 | Second Quarter | YTD | Percent Of Sales | First Quarter | Second Quarter | YTD | |
| Sales | 52,351 | 52,509 | 104,860 | 100% | 4,642 | 4,480 | 9,122 |
| Cost of sales | 11,237 | 10,714 | 21,951 | 21% | 141 | 19 | 160 |
| Gross margin | 41,114 | 41,795 | 82,909 | 79% | 4,501 | 4,461 | 8,962 |
| Gross margin percentage | 78.5% | 79.6% | 79.1% | ||||
| SG&A expense | 7,067 | 8,830 | 15,897 | 15% | 613 | 850 | 1,463 |
| R&D expense | 4,855 | 5,044 | 9,899 | 9% | 138 | 470 | 608 |
| Amortization expense | 403 | 404 | 807 | 1% | (89) | (88) | (177) |
| Interest expense | 268 | 815 | 1,083 | 1% | 45 | 577 | 622 |
| Interest income | (1,676) | (1,956) | (3,632) | (3%) | (702) | (826) | (1,528) |
| Othernon-operating exp., net | 485 | 428 | 913 | 1% | 274 | 147 | 421 |
| 11,402 | 13,565 | 24,967 | 24% | 279 | 1,130 | 1,409 | |
| Earnings before income taxes | 29,712 | 28,230 | 57,942 | 55% | 4,222 | 3,331 | 7,553 |
| Income taxes | 10,081 | 9,567 | 19,648 | 18% | 1,592 | 1,182 | 2,774 |
| 19,631 | 18,663 | 16,514 | 37% | 2,630 | 2,149 | 4,389 | |
| Diluted earnings per share | .50 | .47 | .97 | ||||
| Weighted average diluted shares outstanding | 39,469 | 39,511 | 39,483 | ||||
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||||||
| First Quarter | Second Quarter | YTD | Percent Of Sales | First Quarter | Second Quarter | YTD | |
| Sales | 3,502 | 3,826 | 7,328 | 100% | (32) | 45 | 13 |
| Cost of sales | 2,098 | 2,147 | 4,245 | 58% | (7) | 13 | 6 |
| Gross margin | 1,404 | 1,679 | 3,083 | 42% | (25) | 32 | 7 |
| Gross margin percentage | 40.1% | 43.9% | 42.1% | ||||
| SG&A expense | 398 | 439 | 837 | 11% | 14 | 15 | 29 |
| R&D expense | 180 | 190 | 370 | 5% | (5) | 20 | 15 |
| Interest, net | (81) | (95) | (176) | (2%) | (44) | (45) | (89) |
| 497 | 534 | 1,031 | 14% | (35) | (10) | (45) | |
| Pretax result | 907 | 1,145 | 2,052 | 28% | 10 | 42 | 52 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||||||
| First Quarter | Second Quarter | YTD | Percent Of Sales | First Quarter | Second Quarter | YTD | |
| Sales | 41,621 | 40,073 | 81,694 | 100% | 4,022 | 2,376 | 6,398 |
| Intersegment sales | (5,699) | (6,647) | (12,346) | (400) | (92) | (492) | |
| 35,922 | 33,426 | 69,348 | 3,622 | 2,284 | 5,906 | ||
| Cost of sales | 8,482 | 7,683 | 16,165 | 20% | 12 | (464) | (452) |
| Intersegment sales | (5,524) | (6,435) | (11,959) | (201) | (295) | (496) | |
| 2,958 | 1,248 | 4,206 | (189) | (759) | (948) | ||
| Gross margin | 32,964 | 32,178 | 65,142 | 80% | 3,811 | 3,043 | 6,854 |
| Gross margin percentage | 79.6% | 80.8% | 80.2% | ||||
| SG&A expense | 4,013 | 4,664 | 8,677 | 11% | 374 | 470 | 844 |
| R&D expense | 4,675 | 4,854 | 9,529 | 12% | 143 | 450 | 593 |
| Amortization expense | 403 | 404 | 807 | 1% | (89) | (88) | (177) |
| Interest, net | (595) | (722) | (1,317) | (2%) | (327) | (349) | (676) |
| 8,496 | 9,200 | 17,696 | 22% | 101 | 483 | 584 | |
| Pretax result | 24,468 | 22,978 | 47,446 | 58% | 3,710 | 2,560 | 6,270 |
(1) 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 | Second Quarter | YTD | Percent Of Sales | First Quarter | Second Quarter | YTD | |
| Sales | 6,870 | 7,851 | 14,721 | 100% | 180 | 322 | 502 |
| Cost of sales | 3,285 | 3,766 | 7,051 | 48% | (7) | 1 | (6) |
| Gross margin | 3,585 | 4,085 | 7,670 | 52% | 187 | 321 | 508 |
| Gross margin percentage | 52.2% | 52.0% | 52.1% | ||||
| SG&A expense | 1,074 | 1,236 | 2,310 | 16% | 70 | 51 | 121 |
| Interest income | (410) | (480) | (890) | (6%) | (84) | (151) | (235) |
| Exchange loss/(gain) | 78 | (64) | 14 | -- | 63 | (90) | (27) |
| 742 | 692 | 1,434 | 10% | 49 | (190) | (141) | |
| Pretax result | 2,843 | 3,393 | 6,236 | 42% | 138 | 511 | 649 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | ||||||
| First Quarter | Second Quarter | YTD | Percent Of Sales | First Quarter | Second Quarter | YTD | |
| Sales | 12,927 | 15,257 | 28,184 | 100% | 1,052 | 2,151 | 3,203 |
| Cost of sales | 6,181 | 7,319 | 13,500 | 48% | 337 | 765 | 1,102 |
| Gross margin | 6,746 | 7,938 | 14,684 | 52% | 715 | 1,386 | 2,101 |
| Gross margin percentage | 52.2% | 52.0% | 52.1% | ||||
| SG&A expense | 1,782 | 2,405 | 4,425 | 16% | 238 | 346 | 584 |
| Interest income | (771) | (933) | (1,704) | (6%) | (192) | (361) | (553) |
| Exchange loss | 147 | (126) | 21 | -- | 119 | (172) | (53) |
| 1,396 | 1,346 | 2,742 | 10% | 165 | (187) | (22) | |
| Pretax result | 5,350 | 6,592 | 11,942 | 42% | 550 | 1,573 | 2,123 |
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(in thousands of $’s)
| Fiscal 2007 | Increase(Decrease) From Fiscal 2006 | |||||
| First Quarter | Second Quarter | YTD | First Quarter | Second Quarter | YTD | |
| Interest income | 229 | 206 | 435 | 139 | 71 | 210 |
| Rental income | 299 | 241 | 540 | (43) | (96) | (139) |
| 528 | 447 | 975 | 96 | (25) | 71 | |
| SG&A expense | 636 | 1,322 | 1,958 | (13) | 19 | 6 |
| Interest expense | 268 | 815 | 1,083 | 45 | 577 | 622 |
| Other-Building expenses | 510 | 549 | 1,059 | 67 | 59 | 126 |
| Other-Hemerus losses | 127 | 123 | 250 | 45 | 41 | 86 |
| Other-Nephromics losses | -- | 123 | 123 | -- | 123 | 123 |
| 1,541 | 2,932 | 4,473 | 144 | 819 | 963 | |
| Pretax result | (1,013) | 3,393 | 6,236 | 42% | 138 | 511 |
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(2) Unallocated corporate expenses and Techne’s share of losses by Hemerus Medical, LLC and Nephromics, LLC.