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Segment Results - 4th Quarter Fiscal Year 2005
- 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 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 40,919 | 42,247 | 47,935 | 47,551 | 178,652 | 100% | 2,926 | 3,983 | 5,394 | 5,092 | 17,395 |
| Costof sales | 8,887 | 8,941 | 9,138 | 9,847 | 36,813 | 21% | 224 | 500 | 192 | 1,010 | 1,926 |
| Gross margin | 32,032 | 33,306 | 38,797 | 37,704 | 141,839 | 79% | 2,702 | 3,483 | 5,202 | 4,082 | 15,469 |
| Gross margin percentage | 78.3% | 78.8% | 80.9% | 79.3% | |||||||
| SG&A expense | 5,634 | 6,290 | 6,379 | 6,173 | 24,476 | 14% | 551 | 771 | 923 | 506 | 2,751 |
| R&D expense | 4,688 | 4,619 | 4,631 | 4,441 | 18,379 | 10% | (275) | (831) | (451) | (837) | (2,394) |
| Amortization expense | 305 | 306 | 305 | 305 | 1,221 | 1% | (95) | (93) | (95) | (95) | (378) |
| Interest expense | 245 | 178 | 193 | 206 | 822 | -- | 70 | 6 | 26 | 42 | 144 |
| Interest income | (1,053) | (1,189) | (938) | (929) | (4,109) | (2%) | (327) | (427) | (85) | (19) | (858) |
| Other non-operating exp, net | 466 | 416 | 323 | (42) | 1,163 | -- | 388 | 396 | (92) | (311) | (311) |
| Impairment loss | -- | -- | -- | -- | -- | -- | -- | -- | -- | (1,523) | (1,523) |
| 10,285 | 10,620 | 10,893 | 10,154 | 41,952 | 23% | 312 | (178) | 226 | (2,237) | (1,877) | |
| Earnings before income taxes | 21,747 | 22,686 | 27,904 | 27,550 | 99,887 | 56% | 2,390 | 3,661 | 4,976 | 6,319 | 17,346 |
| Income taxes | 7,555 | 7,752 | 9,465 | 8,983 | 33,755 | 19% | 770 | 1,097 | 1,156 | 1,119 | 4,142 |
| 14,192 | 14,934 | 18,439 | 18,567 | 66,132 | 37% | 1,620 | 2,564 | 3,820 | 5,200 | 13,204 | |
| Diluted earnings per share | 0.34 | 0.36 | 0.45 | .47 | 1.62 | ||||||
| Weighted average diluted shares outstanding | 41,676 | 41,681 | 40,896 | 39,396 | 40,920 | ||||||
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | |||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quartter |
Fourth Quarter |
YTD | ||
| Sales | 4,013 | 4,515 | 3,652 | 4,004 | 16,184 | 100% | (268) | 61 | (417) | (670) | (1,294) | |
| Cost of sales | 2,220 | 2,163 | 2,123 | 2,147 | 8,653 | 53% | (126) | (181) | (111) | (340) | (758) | |
| Gross margin | 1,793 | 2,352 | 1,529 | 1,857 | 7,531 | 47% | (142) | 242 | (306) | (330) | (536) | |
| Gross margin percentage | 44.7% | 52.1% | 41.9% | 46.4% | ||||||||
| SG&A expense | 409 | 436 | 505 | 458 | 1,808 | 11% | 18 | 53 | 66 | (26) | 111 | |
| R&D expense | 188 | 189 | 199 | 194 | 770 | 5% | (3) | (1) | (4) | (3) |
|
|
| Interest, net | (56) | (77) | (44) | (38) | (215) | (1%) | 21 | (3) | 35 | 44 | 97 | |
| 541 | 548 | 660 | 614 | 2,363 | 15% | 36 | 49 | 36 | 15 | 197 | ||
| Pretax result | 1,252 | 1,804 | 869 | 1,243 | 5,168 | 32% | (178) | 193 | (403) | (345) | (733) | |
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 30,691 | 30,072 | 36,338 | 35,642 | 132,743 | 100% | 2,038 | 2,306 | 5,124 | 4,207 | 13,675 |
| Intersegment sales | (4,804) | (5,204) | (5,598) | (5,984) | (21,590) | (183) | (237) | (453) | (1,031) | (1,904) | |
| 25,887 | 24,868 | 30,740 | 29,658 | 111,153 | 1,855 | 2,069 | 4,671 | 3,176 | 11,771 | ||
| Cost of sales | 6,111 | 6,070 | 6,368 | 7,042 | 25,591 | 19% | 195 | 540 | 247 | 1,268 | 2,250 |
| Intersegment sales | (4,756) | (5,210) | (5,479) | (5,997) | (21,442) | (235) | (316) | (339) | (1,100) | (1,100) | |
| 1,355 | 860 | 889 | 1,045 | 4,149 | (40) | 224 | (92) | 168 | 260 | ||
| Gross margin | 24,532 | 24,008 | 29,851 | 28,613 | 107,004 | 81% | 1,895 | 1,845 | 4,763 | 3,008 | 11,511 |
| Gross margin percentage | 80.1% | 79.8% | 82.5% | 80.2% | 80.7% | ||||||
| SG&A expense | 2,973 | 3,415 | 3,712 | 3,417 | 13,517 | 10% | 322 | 466 | 795 | 173 | 1,756 |
| R&D expense | 4,500 | 4,430 | 4,432 | 4,247 | 17,609 | 14% | 336 | 123 | 142 | (131) | 470 |
| Amortization expense | 305 | 306 | 305 | 305 | 1,221 | 1% | (95) | (93) | (95) | (95) | (378) |
| Interest income | (414) | (564) | (320) | (279) | (1,577) | (1%) | (8) | (176) | 91 | 152 | 59 |
| 7,364 | 7,587 | 8,129 | 7,690 | 30,770 | 24% | 555 | 320 | 933 | 99 | 1,907 | |
| Pretax result | 17,168 | 16,421 | 21,722 | 20,923 | 76,234 | 57% | 1,340 | 1,525 | 3,830 | 2,909 | 9,604 |
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(in thousands of £'s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 6,080 | 6,808 | 7,131 | 7,575 | 27,594 | 100% | 100 | 443 | 410 | 1,291 | 2,244 |
| Cost of sales | 2,931 | 3,133 | 3,225 | 3,622 | 12,911 | 47% | (109) | (24) | 118 | 600 | 585 |
| Gross margin | 3,149 | 3,675 | 3,906 | 3,953 | 14,683 | 53% | 209 | 467 | 292 | 691 | 1,659 |
| Gross margin percentage | 51.8% | 54.0% | 54.8% | 52.2% | 53.2% | ||||||
| SG&A expense | 950 | 1,161 | 1,022 | 1,097 | 4,230 | 15% | (100) | 69 | 44 | 110 | 123 |
| Interest income | (254) | (263) | (280) | (307) | (1,104) | (4%) | (127) | (113) | (105) | (105) | (450) |
| Exchange loss/(gain) | 26 | (44) | 16 | (48) | (50) | -- | 75 | 29 | (30) | (88) | (14) |
| 722 | 854 | 758 | 742 | 3,076 | 11% | (152) | (15) | (91) | (83) | (341) | |
| Pretax result | 2,427 | 2,821 | 3,148 | 3,211 | 11,607 | 42% | 361 | 482 | 383 | 774 | 2,000 |
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 11,019 | 12,864 | 13,543 | 13,889 | 51,315 | 100% | 1,339 | 1,853 | 1,140 | 2,586 | 6,918 |
| Cost of sales | 5,312 | 5,918 | 6,126 | 6,655 | 24,011 | 47% | 390 | 457 | 395 | 1,182 | 2,424 |
| Gross margin | 5,707 | 6,946 | 7,417 | 7,234 | 27,304 | 53% | 949 | 1,396 | 745 | 1,404 | 4,494 |
| Gross margin percentage | 51.8% | 54.0% | 54.8% | 52.1% | 53.2% | ||||||
| SG&A expense | 1,722 | 2,194 | 1,939 | 2,011 | 7,866 | 15% | 23 | 303 | 134 | 212 | 672 |
| Interest income | (460) | (497) | (531) | (565) | (2,053) | (4%) | (254) | (237) | (208) | (208) | (907) |
| Exchange loss/(gain) | 47 | (82) | 29 | (88) | (94) | -- | 131 | 47 | (56) | (153) | (31) |
| 1,309 | 1,615 | 1,437 | 1,358 | 5,719 | 11% | (100) | 113 | (130) | (149) | (266) | |
| Pretax result | 4,398 | 5,331 | 5,980 | 5,876 | 21,585 | 42% | 1,049 | 1,283 | 875 | 1,553 | 4,760 |
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(in thousands of $’s)
| Fiscal 2004 | >Increase(Decrease) From Fiscal 2003 | |||||||||
| > | >First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
>YTD | >First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
>YTD |
| Interest income | 42 | 51 | 43 | 47 | 183 | 5 | 11 | 3 | 7 | 26 |
| Rental income | 19 | 53 | 318 | 360 | 750 | -- | 7 | 298 | 313 | 618 |
| 61 | 104 | 361 | 407 | 933 | 5 | 18 | 301 | 320 | 644 | |
| SG&A expense | 530 | 245 | 223 | 287 | 1,285 | 188 | (51) | (72) | 147 | 212 |
| R&D-CCX losses | -- | -- | -- | -- | -- | (436) | ||||