SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
------------------------------------- ----------------------------
First Second Third Percent First Second Third
Qtr Qtr Qtr YTD Of Sales Qtr Qtr Qtr YTD
------ ------ ------ ------- -------- ------ ------ ------ -----
Sales 69,324 61,876 67,866 199,066 100% 11,337 (266) (1,656) 9,415
Cost of sales 13,086 13,430 14,316 40,832 21% 982 679 170 1,831
------ ------ ------ ------- -------- ------ ------ ------ -----
Gross margin 56,238 48,446 53,550 158,234 79% 10,355 (945) (1,826) 7,584
Gross margin
percentage 81.1% 78.3% 78.9% 79.5%
SG&A expense 8,840 9,703 7,061 25,604 13% 750 (942) (1,933)(2,125)
R&D expense 5,910 5,846 5,809 17,565 9% 729 284 (30) 983
Amortization
expense 240 240 240 720 - (48) (42) (43) (133)
Interest
income (2,887)(2,205)(1,504) (6,596) (3%) 111 1,047 1,651 2,809
Other non-
operating
ex., net 1,187 712 1,103 3,002 1% 618 139 680 1,437
------ ------ ------ ------- -------- ------ ------ ------ -----
13,290 14,296 12,709 40,295 20% 2,160 486 325 2,971
------ ------ ------ ------- -------- ------ ------ ------ -----
Earnings before
income taxes 42,948 34,150 40,841 117,939 59% 8,195 (1,431) (2,151) 4,613
Income taxes 14,355 10,528 13,200 38,083 19% 2,674 (1,414) (202) 1,058
------ ------ ------ ------- -------- ------ ------ ------ -----
28,593 23,622 27,641 79,856 40% 5,521 (17) (1,949) 3,555
====== ====== ====== ======= ======== ====== ====== ====== =====
Diluted
earnings per
share .74 .62 .74 2.10
Weighted avg.
diluted shares
outstanding 38,747 37,992 37,499 38,085
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
------------------------------------- ----------------------------
First Second Third Percent First Second Third
Qtr Qtr Qtr YTD Of Sales Qtr Qtr Qtr YTD
------ ------ ------ ------- -------- ------ ------ ------ ------
Sales 53,899 48,643 53,718 156,260 100% 8,571 2,067 806 11,444
Intersegment
sales (7,762)(8,311)(8,579)(24,652) (1,315) (878) (757) (2,950)
------ ------ ------ ------- ------ ------ ------ ------
46,137 40,332 45,139 131,608 7,256 1,189 49 8,494
Cost of sales 10,247 11,090 11,080 32,417 21% 1,250 1,478 371 3,099
Intersegment
sales (7,461)(8,339)(8,494)(24,294) (1,287) (909) (739)(2,935)
------ ------ ------ ------- -------- ------ ------ ------ ------
2,786 2,751 2,586 8,123 (37) 569 (368) 164
Gross margin 43,351 37,581 42,553 123,485 79% 7,293 620 417 8,330
Gross margin
percentage 81.0% 77.2% 79.4% 79.3%
SG&A expense 5,141 5,418 4,262 14,821 9% 517 (116) (995) (594)
R&D expense 5,717 5,643 5,622 16,982 11% 715 275 (18) 972
Amortization
expense 240 240 240 720 -- (48) (42) (43) (133)
Interest, net (1,084) (970) (853) (2,907) (1%) 173 339 432 944
Exchange
loss/(gain) (2) 1 1 -- -- (36) (11) 6 (41)
------ ------ ------ ------- -------- ------ ------ ------ ------
10,012 10,332 9,272 29,616 19% 1,321 445 (618) 1,148
------ ------ ------ ------- -------- ------ ------ ------ ------
Pretax result 33,339 27,249 33,281 93,869 60% 5,972 175 1,035 7,182
====== ====== ====== ======= ======== ====== ====== ====== ======
(1) Includes R&D Systems' Biotechnology Division,
BiosPacific, Inc. and R&D China
R&D SYSTEMS EUROPE
(in thousands of British pounds)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
------------------------------------- ----------------------------
First Second Third Percent First Second Third
Qtr Qtr Qtr YTD Of Sales Qtr Qtr Qtr YTD
------ ------ ------ ------- -------- ------ ------ ------ ------
Sales 10,175 11,197 12,716 34,088 100% 2,570 1,896 2,536 7,002
Cost of sales 4,260 5,361 6,540 16,161 47% 805 1,308 2,148 4,261
------ ------ ------ ------- -------- ------ ------ ------ ------
Gross margin 5,915 5,836 6,176 17,927 53% 1,765 588 388 2,741
Gross margin
percentage 58.1% 52.1% 48.6% 52.6%
SG&A expense 1,224 1,364 1,191 3,779 11% 110 88 28 226
Interest income (790) (583) (235) (1,608) (4%) (107) 190 527 610
Exchange
loss/(gain) 260 (35) 163 388 1% 356 46 393 795
------ ------ ------ ------- -------- ------ ------ ------ ------
694 746 1,119 2,559 8% 359 324 948 1,631
------ ------ ------ ------- -------- ------ ------ ------ ------
Pretax result 5,221 5,090 5,057 15,368 45% 1,406 264 (560) 1,110
====== ====== ====== ======= ======== ====== ====== ======= ======
R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
------------------------------------- ----------------------------
First Second Third Percent First Second Third
Qtr Qtr Qtr YTD Of Sales Qtr Qtr Qtr YTD
------ ------ ------ ------- -------- ------ ------ ------ ------
Sales 18,941 17,284 18,293 54,518 100% 3,492 (1,743) (1,933) (184)
Cost of sales 7,931 8,274 9,405 25,610 47% 911 (19) 679 1,571
------ ------ ------ ------- -------- ------ ------ ------ ------
Gross margin 11,010 9,010 8,888 28,908 53% 2,581 (1,724) (2,612)(1,755)
Gross margin
percentage 58.1% 52.1% 48.6% 53.0%
SG&A expense 2,283 2,094 1,714 6,091 11% 21 (505) (597)(1,081)
Interest income(1,471) (906) (338) (2,715) (5%) (84) 670 1,176 1,762
Exchange loss 476 5 238 719 1% 674 170 695 1,539
------ ------ ------ ------- -------- ------ ------ ------ ------
1,288 1,193 1,614 4,095 7% 611 335 1,274 2,220
------ ------ ------ ------- -------- ------ ------ ------ ------
Pretax result 9,722 7,817 7,274 24,813 46% 1,970 (2,059) (3,886)(3,975)
====== ====== ====== ======= ======== ====== ====== ====== ======
HEMATOLOGY
(in thousands of $'s)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
------------------------------------- ----------------------------
First Second Third Percent First Second Third
Qtr Qtr Qtr YTD Of Sales Qtr Qtr Qtr YTD
------ ------ ------ ------- -------- ------ ------ ------ ------
Sales 4,246 4,260 4,434 12,940 100% 589 288 228 1,105
Cost of sales 2,369 2,405 2,325 7,099 55% 108 129 (141) 96
------ ------ ------ ------- -------- ------ ------ ------ ------
Gross margin 1,877 1,855 2,109 5,841 45% 481 159 369 1,009
Gross margin
percentage 44.2% 43.5% 47.6% 45.1%
SG&A expense 436 398 310 1,144 9% (31) (89) (179) (299)
R&D expense 193 203 187 583 4% 14 9 (12) 11
Interest, net (102) (91) (80) (273) (2%) 18 34 43 95
------ ------ ------ ------- -------- ------ ------ ------ ------
527 510 417 1,454 11% 1 (46) (148) (193)
------ ------ ------ ------- -------- ------ ------ ------ ------
Pretax result 1,350 1,345 1,692 4,387 34% 480 205 517 1,202
====== ====== ====== ======= ======== ====== ====== ====== =====
CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2009 From Fiscal 2008
---------------------------- ----------------------------
First Second Third First Second Third
Qtr Qtr Qtr YTD Qtr Qtr Qtr YTD
------ ------ ------ ------- ------ ------ ------ ------
Interest income 230 238 233 701 (4) (4) -- (8)
Rental income 99 131 115 345 32 20 24 76
------ ------ ------ ------- ------ ------ ------ ------
329 369 348 1,046 28 16 24 68
SG&A expense 980 1,793 775 3,548 243 (232) (162) (151)
Other-Building
expenses 553 551 573 1,677 9 (49) (60) (100)
Other-Equity
Investment losses 259 286 406 951 3 49 63 115
------ ------ ------ ------- ------ ------ ------ ------
1,792 2,630 1,754 6,176 255 (232) (159) (136)
------ ------ ------ ------- ------ ------ ------ ------
Pretax result (1,463)(2,261)(1,406) (5,130) (227) 248 183 204
====== ====== ====== ======= ====== ====== ====== ======
(2) Unallocated corporate expenses and Techne's share
of losses by Hemerus Medical, LLC and Nephromics, LLC.