TECHNE CORPORATION
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Segment Results - 4 th Quarter Fiscal Year 2009

TECHNE CORPORATION AND SUBSIDIARIES
(in thousands of $’s, except per share data)

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD Percent Of Sales First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Sales 69,324 61,876 67,866 64,890 263,956 100% 11,337 (266) (1,656) (2,879) 6,536
Cost of sales 13,086 13,430 14,316 14,656 55,488  21%  982  679   170  768  2,599
Gross margin 56,238 48,446 53,550 50,234 208,468 79% 10,355 (945) (1,826) (3,647) 3,937
                       
Gross margin percentage 81.1% 78.3% 78.9% 77.4% 79.0%            
                       
SG&A expense 8,840 9,703 7,061 7,560 33,164 13% 750 (942) (1,933) (1,426) (3,551)
R&D expense 5,910 5,846 5,809 5,999 23,564 9% 729 284 (30) 187 1,170
Amortization expense 240 240 240 240 960 - (48) (42) (43) (42) (175)
Interest income (2,887) (2,205) (1,504) (1,038) (7,634) (3%) 111 1,047 1,651 1,745 4,554
Other non-operating ex., net 1,187    712 1,103       49  3,051 1%  618 139  680 (1,030)  407
  13,290 14,296  12,709 12,810 53,105  20%  2,160 486   325 (566)  2,405
Earnings before income taxes 42,948 34,150 40,841 37,424 155,363 59% 8,195 (1,431) (2,151) (3,081) 1,532
Income taxes 14,355 10,528 13,200 12,038 50,121  19%  2,674 (1,414) (202) (1,210)  (152)
  28,593 23,622 27,641 25,386 105,242  40%  5,521  (17) (1,949) (1,871)  1,684
                       
Diluted earnings per share .74 .62 .74 .68 2.78            
Weighted average diluted shares outstanding   38,747   37,992   37,499   37,332   37,900            

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HEMATOLOGY DIVISION
(in thousands of $’s)

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD Percent Of Sales First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Sales 4,246 4,260 4,434 4,562 17,502 100% 589 288 228 375 1,480
Cost of sales 2,369 2,405 2,325 2,369 9,468 54% 108  129 (141) (88)     8
Gross margin 1,877 1,855 2,109 2,193 8,034 46% 481 159 369 463 1,472
                       
Gross margin percentage 44.2% 43.5% 47.6% 48.1% 45.9%            
                       
SG&A expense 436 398 310 319 1,463 9% (31) (89) (179) (241) (540)
R&D expense 193 203 187 189 772 4% 14 9 (12) (1) 10
Interest, net (102) (91) (80) (72) (345) (2%) 18 34   43  21   116
  527 510 417 436 1,890 11%   1 (46) (148) (221) (414)
Pretax result 1,350 1,345 1,692 1,757 6,144 35% 480 205 517 684 1,886

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BIOTECHNOLOGY DIVISION (1)
(in thousands of $’s)

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD Percent Of Sales First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Sales 53,899 48,643 53,718 49,734 205,994 100% 8,571 2,067 806 (261) 11,183
Intersegment sales (7,762) (8,311) (8,579) (7,429) (32,081)   (1,315)  (878) (757)   17 (2,933)
  46,137 40,332 45,139 42,305 173,913   7,256 1,189 49 (244) 8,250
                       
Cost of sales 10,247 11,090 11,080 10,311 42,728 21% 1,250 1,478 371 64 3,163
Intersegment sales (7,461) (8,339) (8,494) (7,454) (31,748)   (1,287)  (909) (739) 284 (2,651)
  2,786 2,751 2,586 2,857 10,980   (37) 569 (368) 348 512
                       
Gross margin 43,351 37,581 42,553 39,448 162,933 79% 7,293 620 417 (592) 7,738
                       
Gross margin percentage 81.0% 77.2% 79.4% 79.3% 79.3%            
                       
SG&A expense 5,141 5,418 4,262 4,214 19,035 9% 517 (116) (995) (1,352) (1,946)
R&D expense 5,717 5,643 5,622 5,810 22,792 11% 715 275 (18) 188 1,160
Amortization expense 240 240 240 240 960 -- (48) (42) (43) (42) (175)
Interest, net (1,084) (970) (853) (743) (3,650) (1%) 173 339 432 245 1,189
Other expense    (2)      1      1      2         2   --  (36) (11)    6 (387) (428)
  10,012 10,332 9,272  9,523 39,139 19% 1,321 445 (618) (1,348) (200)
Pretax result 33,339 27,249 33,281 29,925 123,794 60% 5,972 175 1,035   756 7,938

(1) Includes R&D Systems' Biotechnology Division, BiosPacific, Inc. and R&D China

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R&D SYSTEMS EUROPE
(in thousands of £'s) 

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD Percent Of Sales First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Sales 10,175 11,197 12,716 11,134 45,222 100% 2,570 1,896 2,536 569 7,571
Cost of sales 4,260  5,361 6,540 5,683 21,844  48% 805 1,308 2,148 1,197 5,458
Gross margin 5,915 5,836 6,176 5,451 23,378 52% 1,765 588 388 (628) 2,113
                       
Gross margin percentage 58.1% 52.1% 48.6% 49.0% 51.7%            
                       
SG&A expense 1,224 1,364 1,191 1,188 4,967 11% 110 88 28 (65) 161
Interest income (790) (583) (235) (102) (1,710) (4%) (107) 190 527 638 1,248
Exchange loss/(gain) 260 (35)  163 (368)    20 1% 356  46 393 (359) 436
   694 746  1,119   718 3,277 8% 359 324 948 214 1,845
Pretax result  5,221 5,090  5,057  4,733 20,101 44% 1,406 264 (560) (842) 268

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R&D SYSTEMS EUROPE
(in thousands of $’s)

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD Percent Of Sales First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Sales 18,941 17,284 18,293 18,023 72,541 100% 3,492 (1,743) (1,933) (3,010) (3,194)
Cost of sales  7,931 8,274 9,405 9,430 35,040 48% 911   (19)   679   508   2,079
Gross margin 11,010 9,010 8,888 8,593 37,501 52% 2,581 (1,724) (2,612) (3,518) (5,273)
                       
Gross margin percentage 58.1% 52.1% 48.6% 47.7% 51.7%            
                       
SG&A expense 2,283 2,094 1,714 1,876 7,967 11% 21 (505) (597) (619) (1,700)
Interest income (1,471) (906) (338) (28) (2,743) (4%) (84) 670 1,176 1,444 3,206
Exchange loss  476     5  238 (687)    32 1% 674  170 695 (670)   869
   1,288 1,193  1,614 1,161  5,256 8% 611  335 1,274 155 2,375
Pretax result 9,722 7,817  7,274 7,432 32,245 44% 1,970 (2,059) (3,886) (3,673) (7,648)

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CORPORATE AND OTHER (2)
(in thousands of $’s)

  Fiscal 2009 Increase (Decrease) From Fiscal 2008
  First Quarter Second Quarter Third Quarter Fourth Quarter YTD First Quarter Second Quarter Third Quarter Fourth Quarter YTD
Interest income 230 238 233 195 896 (4) (4) -- (35) (43)
Rental income   99  131 115 136 481 32 20 24  1  77
  329 369 348 331 1,377 28 16 24 (34) 34
                     
SG&A expense 980 1,793 775 1,151 4,699 243 (232) (162) 786 635
Other-Building expenses 553 551 573 531 2,208 9 (49) (60) (7) (107)
Other-Equity Investment losses   259   286  406 339 1,290 3 49  63 35 150
  1,792 2,630  1,754 2,021 8,197 255 (232) (159) 814 678
Pretax result (1,463) (2,261) (1,406) (1,690) (6,820) (227) 248 183 (848) (644)
(2) Unallocated corporate expenses and Techne’s share of losses by Hemerus Medical, LLC and Nephromics, LLC.
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TECHNE CORPORATION
614 McKinley Place N.E.    Minneapolis, MN 55413-2610
Phone: (612)379-8854   Fax: (612)379-6580
e-mail: techinfo@techne-corp.com


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