Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Earnings and Comprehensive Income

v3.22.4
Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Condensed Consolidated Statements of Earnings and Comprehensive Income        
Net sales $ 271,581 $ 269,276 $ 541,236 $ 526,995
Cost of sales 88,221 85,585 178,280 172,307
Gross margin 183,360 183,691 362,956 354,688
Operating expenses:        
Selling, general and administrative 93,010 100,693 192,386 186,868
Research and development 22,459 20,650 46,362 42,250
Total operating expenses 115,469 121,343 238,748 229,118
Operating income 67,891 62,348 124,208 125,570
Other income (expense) (1,462) 23,831 45,938 27,992
Earnings before income taxes 66,429 86,179 170,146 153,562
Income taxes (benefit) 16,424 14,120 30,407 12,522
Net earnings, including noncontrolling interest 50,005 72,059 139,739 141,040
Net earnings (loss) attributable to noncontrolling interest   (8,114) 179 (8,748)
Net earnings attributable to Bio-Techne 50,005 80,173 139,560 149,788
Other comprehensive income (loss):        
Foreign currency translation adjustments 17,370 1,924 (4,087) (6,722)
Foreign currency translation reclassified to earnings with Eminence deconsolidation     119  
Unrealized gains (losses) on derivative instruments - cash flow hedges, net of tax amounts disclosed in Note 8 (685) 2,884 4,010 4,566
Other comprehensive income (loss) 16,685 4,808 42 (2,156)
Other comprehensive income (loss) attributable to noncontrolling interest   66 (33) 27
Other comprehensive income (loss) attributable to Bio-Techne 16,685 4,742 75 (2,183)
Comprehensive income attributable to Bio-Techne $ 66,690 $ 84,915 $ 139,635 $ 147,605
Earnings per share attributable to Bio-Techne(1):        
Basic $ 0.32 $ 0.51 $ 0.89 $ 0.95
Diluted $ 0.31 $ 0.49 $ 0.86 $ 0.91
Weighted average common shares outstanding(1):        
Basic 157,011 157,240 156,887 156,808
Diluted 161,750 164,828 161,766 164,636