SEGMENT INFORMATION TECHNE CORPORATION AND SUBISIDARIES (in thousands of $'s, except per share data)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ --------------------------------- First Second Percent First Second Quarter Quarter YTD Of Sales Quarter Quarter YTD ------- ------- ------ -------- ------- ------- ----- Sales 37,993 38,264 76,257 100% 3,445 4,964 8,409 Cost of sales 8,663 8,441 17,104 22% (27) 70 43 ------- ------- ------ -------- ------- ------- ------ Gross margin 29,330 29,823 59,153 78% 3,472 4,894 8,366 Gross margin percentage 77.2% 77.9% 77.6% SG&A expense 5,083 5,519 10,602 14% 132 618 750 R&D expense 4,963 5,450 10,413 14% 130 471 601 Amortization expense 400 399 799 1% (84) (86) (170) Interest expense 175 172 347 -- (148) (124) (272) Interest income (726) (762) (1,488) (2%) 64 (58) 6 Other non-operating exp., net 78 20 98 -- (72) 36 (36) ------- ------- ------ -------- ------- ------- ------ 9,973 10,798 20,771 27% 22 857 879 ------- ------- ------ -------- ------- ------- ------ Earnings before income taxes 19,357 19,025 38,382 51% 3,450 4,037 7,487 Income taxes 6,785 6,655 13,440 18% 1,323 1,548 2,871 ------- ------- ------ -------- ------- ------- ------ 12,572 12,370 24,942 33% 2,127 2,489 4,616 ======= ======= ====== ======== ======= ======= ====== Diluted earnings per share 0.30 0.30 0.60 Weighted average diluted shares outstanding 41,600 41,653 41,627
HEMATOLOGY DIVISION (in thousands of $'s)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ ---------------------------------- First Second Percent First Second Quarter Quarter YTD Of Sales Quarter Quarter YTD ------- ------- ------ -------- ------- ------- ------ Sales 4,281 4,454 8,735 100% 507 468 975 Cost of sales 2,346 2,344 4,690 54% 209 232 441 ------- ------- ------ -------- ------- ------- ------ Gross margin 1,935 2,110 4,045 46% 298 236 534 Gross margin percentage 45.2% 47.4% 46.3% SG&A expense 391 383 774 9% (9) 16 7 R&D expense 191 190 381 4% 18 (3) 15 Interest income (77) (74) (151) (2%) 24 9 33 ------- ------- ------ -------- ------- ------- ------ 505 499 1,004 11% 33 22 55 ------- ------- ------ -------- ------- ------- ------ Pretax result 1,430 1,611 3,041 35% 265 214 479 ======= ======= ====== ======== ======= ======= ======
BIOTECHNOLOGY DIVISION (in thousands of $'s)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ ---------------------------------- First Second Percent First Second Quarter Quarter YTD Of Sales Quarter Quarter YTD ------- ------- ------ -------- ------- ------- ------ Sales 28,653 27,766 56,419 100% 2,016 2,811 4,827 Intersegment sales (4,621) (4,967) (9,588) (471) (466) (937) ------- ------- ------ ------- ------- ------ 24,032 22,799 46,831 1,545 2,345 3,890 Cost of sales 5,916 5,530 11,446 21% 191 70 261 Intersegment sales (4,521) (4,894) (9,415) (371) (411) (782) ------- ------- ------ ------- ------- ------ 1,395 636 2,031 (180) (341) (521) Gross margin 22,637 22,163 44,800 79% 1,725 2,686 4,411 Gross margin percentage 79.4% 80.1% 79.7% SG&A expense 2,651 2,949 5,600 10% (61) 109 48 R&D expense 4,164 4,307 8,471 15% 201 180 381 Amortization expense 400 399 799 1% (84) (86) (170) Interest income (406) (388) (794) (1%) 85 19 104 ------- ------- ------ -------- ------- ------- ------ 6,809 7,267 14,076 25% 141 222 363 ------- ------- ------ -------- ------- ------- ------ Pretax result 15,828 14,896 30,724 54% 1,584 2,464 4,048 ======= ======= ====== ======== ======= ======= ======
R&D SYSTEMS EUROPE (in thousands of Br. pounds)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ ---------------------------------- First Second Percent First Second Quarter Quarter YTD Of Sales Quarter Quarter YTD ------- ------- ------ -------- ------- ------- ------ Sales 5,980 6,365 12,345 100% 663 732 1,395 Intersegment sales -- -- -- 9 6 15 ------- ------- ------ ------- ------- ------ 5,980 6,365 12,345 672 738 1,410 Cost of sales 3,040 3,157 6,197 50% (157) (203) (360) ------- ------- ------ -------- ------- ------- ------ Gross margin 2,940 3,208 6,148 50% 820 935 1,755 Gross margin percentage 49.2% 50.4% 49.8% SG&A expense 1,050 1,092 2,142 17% 17 101 118 Interest income (127) (150) (277) (2%) (23) (35) (58) Exchange loss/(gain) (49) (73) (122) (1%) (80) 6 (74) ------- ------- ------ -------- ------- ------- ------ 874 869 1,743 14% (86) 72 (14) ------- ------- ------ -------- ------- ------- ------ Pretax result 2,066 2,339 4,405 36% 906 863 1,769 ======= ======= ====== ======== ======= ======= ======
R&D SYSTEMS EUROPE (in thousands of $'s)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ ---------------------------------- First Second Percent First Second Quarter Quarter YTD Of Sales Quarter Quarter YTD ------- ------- ------ -------- ------- ------- ------ Sales 9,680 11,011 20,691 100% 1,379 2,142 3,521 Intersegment sales -- -- -- 14 9 23 ------- ------- ------ ------- ------- ------ 9,680 11,011 20,691 1,393 2,151 3,544 Cost of sales 4,922 5,461 10,383 50% (70) 170 100 ------- ------- ------ -------- ------- ------- ------ Gross margin 4,758 5,550 10,308 50% 1,449 1,972 3,421 Gross margin percentage 49.2% 50.4% 49.8% SG&A expense 1,699 1,891 3,590 17% 87 328 415 Interest income (206) (260) (466) (2%) (43) (80) (123) Exchange loss/(gain) (84) (129) (213) (1%) (133) (1) (134) ------- ------- ------ -------- ------- ------- ------ 1,409 1,502 2,911 14% (89) 247 158 ------- ------- ------ -------- ------- ------- ------ Pretax result 3,349 4,048 7,397 36% 1,538 1,725 3,263 ======= ======= ====== ======== ======= ======= ======
CORPORATE AND OTHER (1) (in thousands of $'s)
Increase(Decrease) Fiscal 2004 From Fiscal 2003 ------------------------ ------------------------ First Second First Second Quarter Quarter YTD Quarter Quarter YTD ------- ------- ------ ------- ------- ------ Interest income 37 40 77 2 6 8 Rental income 19 46 65 19 40 59 ------- ------- ------ ------- ------- ------ 56 86 142 21 46 67 SG&A expense 342 296 638 115 165 280 R&D-CCX losses 436 828 1,264 (83) 332 249 R&D-DGI losses 172 125 297 (6) (38) (44) Interest expense 175 172 347 (148) (124) (272) Building expense 181 195 376 80 77 157 ------- ------- ------ ------- ------- ------ 1,306 1,616 2,922 (42) 410 370 ------- ------- ------ ------- ------- ------ Pretax result (1,250) (1,530) (2,780) 63 (366) (303) ======= ======= ====== ======= ======= ======
(1) Unallocated corporate expenses and Techne's share of losses by ChemoCentryx, Inc. (CCX) and Discovery Genomics, Inc. (DGI)