SEGMENT INFORMATION TECHNE CORPORATION AND SUBISIDARIES (in thousands of $'s, except per share data)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 -------------------------------------------- -------------------------------- First Second Third Percent First Second Third Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter YTD ------- ------- ------- -------- -------- ------- ------- ------- -------- Sales 40,919 42,247 47,935 131,101 100% 2,926 3,983 5,394 12,303 Cost of sales 8,887 8,941 9,138 26,966 21% 224 500 192 916 ------- ------- ------- -------- -------- ------ ------ ------ ------- Gross margin 32,032 33,306 38,797 104,135 79% 2,702 3,483 5,202 11,387 Gross margin percentage 78.3% 78.8% 80.9% 79.4% SG&A expense 5,634 6,290 6,379 18,303 14% 551 771 923 2,245 R&D expense 4,688 4,619 4,631 13,938 11% (275) (831) (451) (1,557) Amortization expense 305 306 305 916 -- (95) (93) (95) (283) Interest expense 245 178 193 616 -- 70 6 26 102 Interest income (1,053) (1,189) (938) (3,180) (2%) (327) (427) (85) (839) Other non-operating exp., net 466 416 323 1,205 1% 388 396 (92) 692 ------- ------- ------- -------- -------- ------ ------ ------ ------- 10,285 10,620 10,893 31,798 24% 312 (178) 226 360 ------- ------- ------- -------- -------- ------ ------ ------ ------- Earnings before income taxes 21,747 22,686 27,904 72,337 55% 2,390 3,661 4,976 11,027 Income taxes 7,555 7,752 9,465 24,772 19% 770 1,097 1,156 3,023 ------- ------- ------- -------- -------- ------ ------ ------ ------- 14,192 14,934 18,439 47,565 36% 1,620 2,564 3,820 8,004 ======= ======= ======= ======== ======== ====== ====== ====== ======= Diluted earnings per share 0.34 0.36 0.45 1.15 Weighted average diluted shares outstanding 41,676 41,681 40,896 41,423
HEMATOLOGY DIVISION (in thousands of $'s)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 -------------------------------------------- -------------------------------- First Second Third Percent First Second Third Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter YTD ------- ------- ------- -------- -------- ------- ------- ------- -------- Sales 4,013 4,515 3,652 12,180 100% (268) 61 (417) (624) Cost of sales 2,220 2,163 2,123 6,506 53% (126) (181) (111) (418) ------- ------- ------- -------- ------- ------- ------- ------- -------- Gross margin 1,793 2,352 1,529 5,674 47% (142) 242 (306) (206) Gross margin percentage 44.7% 52.1% 41.9% 46.6% SG&A expense 409 436 505 1,350 11% 18 53 66 137 R&D expense 188 189 199 576 5% (3) (1) (4) (8) Interest, net (56) (77) (44) (177) (1%) 21 (3) 35 53 ------- ------- ------- -------- ------- ------- ------- ------- -------- 541 548 660 1,749 15% 36 49 97 182 ------- ------- ------- -------- ------- ------- ------- ------- -------- Pretax result 1,252 1,804 869 3,925 32% (178) 193 (403) (388) ======= ======= ======= ======== ======= ======= ======= ======= ========
BIOTECHNOLOGY DIVISION (in thousands of $'s)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 -------------------------------------------- -------------------------------- First Second Third Percent First Second Third Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter YTD ------- ------- ------- -------- -------- ------- ------- ------- -------- Sales 30,691 30,072 36,338 97,101 100% 2,038 2,306 5,124 9,468 Intersegment sales (4,804) (5,204) (5,598) (15,606) (183) (237) (453) (873) ------- ------- ------- -------- ------- ------- ------- -------- 25,887 24,868 30,740 81,495 1,855 2,069 4,671 8,595 Cost of sales 6,111 6,070 6,368 18,549 19% 195 540 247 982 Intersegment sales (4,756) (5,210) (5,479) (15,445) (235) (316) (339) (890) ------- ------- ------- -------- ------ ------- ------- ------- -------- 1,355 860 889 3,104 (40) 224 (92) 92 Gross margin 24,532 24,008 29,851 78,391 81% 1,895 1,845 4,763 8,503 Gross margin percentage 80.1% 79.8% 82.5% 80.9% SG&A expense 2,973 3,415 3,712 10,100 10% 322 466 795 1,583 R&D expense 4,500 4,430 4,432 13,362 14% 336 123 142 601 Amortization expense 305 306 305 916 1% (95) (93) (95) (283) Interest, net (414) (564) (320) (1,298) (1%) (8) (176) 91 (93) ------- ------- ------- -------- ------ ------- ------- ------- -------- 7,364 7,587 8,129 23,080 24% 555 320 933 1,808 ------- ------- ------- -------- ------ ------- ------- ------- -------- Pretax result 17,168 16,421 21,722 55,311 57% 1,340 1,525 3,830 6,695 ======= ======= ======= ======== ====== ======= ======= ======= ========
R&D SYSTEMS EUROPE (in thousands of British pounds)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 -------------------------------------------- -------------------------------- First Second Third Percent First Second Third Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter YTD ------- ------- ------- -------- -------- ------- ------- ------- -------- Sales 6,080 6,808 7,131 20,019 100% 100 443 410 953 Cost of sales 2,931 3,133 3,225 9,289 46% (109) (24) 118 (15) ------- ------- ------- -------- ------ ------- ------- ------- -------- Gross margin 3,149 3,675 3,906 10,730 54% 209 467 292 968 Gross margin percentage 51.8% 54.0% 54.8% 53.6% SG&A expense 950 1,161 1,022 3,133 16% (100) 69 44 13 Interest income (254) (263) (280) (797) (4%) (127) (113) (105) (345) Exchange loss/(gain) 26 (44) 16 (2) -- 75 29 (30) 74 ------- ------- ------- -------- ------ ------- ------- ------- -------- 722 854 758 2,334 12% (152) (15) (91) (258) ------- ------- ------- -------- ------ ------- ------- ------- -------- Pretax result 2,427 2,821 3,148 8,396 42% 361 482 383 1,226 ======= ======= ======= ======== ====== ======= ======= ======= =======
R&D SYSTEMS EUROPE (in thousands of $'s)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 -------------------------------------------- -------------------------------- First Second Third Percent First Second Third Quarter Quarter Quarter YTD Of Sales Quarter Quarter Quarter YTD ------- ------- ------- -------- -------- ------- ------- ------- -------- Sales 11,019 12,864 13,543 37,426 100% 1,339 1,853 1,140 4,332 Cost of sales 5,312 5,918 6,126 17,356 46% 390 457 395 1,242 ------- ------- ------- -------- ------ ------- ------- ------- -------- Gross margin 5,707 6,946 7,417 20,070 54% 949 1,396 745 3,090 Gross margin percentage 51.8% 54.0% 54.8% 53.6% SG&A expense 1,722 2,194 1,939 5,855 16% 23 303 134 460 Interest income (460) (497) (531) (1,488) (4%) (254) (237) (208) (699) Exchange loss 47 (82) 29 (6) -- 131 47 (56) 122 ------- ------- ------- -------- ------ ------- ------- ------- -------- 1,309 1,615 1,437 4,361 12% (100) 113 (130) (117) ------- ------- ------- -------- ------ ------- ------- ------- -------- Pretax result 4,398 5,331 5,980 15,709 42% 1,049 1,283 875 3,207 ======= ======= ======= ======== ====== ======= ======= ======= ========
CORPORATE AND OTHER (1) (in thousands of $'s)
Increase (Decrease) Fiscal 2005 From Fiscal 2004 ----------------------------------- -------------------------------- First Second Third First Second Third Quarter Quarter Quarter YTD Quarter Quarter Quarter YTD ------- ------- ------- -------- ------- ------- ------- -------- Interest income 42 51 43 136 5 11 3 19 Rental income 19 53 318 390 -- 7 298 305 ------- ------- ------- -------- ------- ------- ------- ------- 61 104 361 526 5 18 301 324 SG&A expense 530 245 223 998 188 (51) (72) 65 R&D-CCX losses -- -- -- -- (436) (828) (519) (1,783) R&D-DGI losses -- -- -- -- (172) (125) (47) (344) Other-Hemerus losses 74 73 85 232 74 73 62 209 Interest expense 164 178 193 535 (11) 6 26 21 Building expense 364 478 527 1,369 183 283 177 643 ------- ------- ------- -------- ------- ------- ------- ------- 1,132 974 1,028 3,134 (174) (642) (373) (1,189) ------- ------- ------- -------- ------- ------- ------- ------- Pretax result (1,071) (870) (667) (2,608) 179 660 674 1,513 ======= ======= ======= ======== ======= ======= ======= =======
(1) Unallocated corporate expenses and Techne's share of losses by ChemoCentryx, Inc. (CCX), Discovery Genomics, Inc. (DGI) and Hemerus Medical, LLC.