Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Earnings Per Share

v3.21.1
Note 9 - Earnings Per Share
9 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 9. Earnings Per Share:

 

The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):

 

   

Quarter Ended

   

Nine Months Ended

 
   

March 31,

   

March 31,

 
   

2021

    2020     2021     2020  

Earnings per share – basic:

                               
Net earnings, including noncontrolling interest   $ 45,402     $ 36,432     $ 124,941     $ 170,451  
Less net earnings (loss) attributable to noncontrolling interest     (380 )     -       (509 )     -  

Net earnings attributable to Bio-Techne

  $ 45,782     $ 36,432     $ 125,450     $ 170,451  

Income allocated to participating securities

    (27

)

    (26

)

    (77

)

    (126

)

Income available to common shareholders

  $ 45,755     $ 36,406     $ 125,373     $ 170,325  

Weighted-average shares outstanding – basic

    38,856       38,303       38,693       38,167  

Earnings per share – basic

  $ 1.18     $ 0.95     $ 3.24     $ 4.46  
                                 

Earnings per share – diluted:

                               
Net earnings, including noncontrolling interest   $ 45,402     $ 36,432     $ 124,941     $ 170,451  

Less net earnings (loss) attributable to noncontrolling interest

    (380 )     -       (509 )     -  

Net earnings attributable to Bio-Techne

  $ 45,782     $ 36,432     $ 125,450     $ 170,451  

Income allocated to participating securities

    (27

)

    (26

)

    (77

)

    (126

)

Income available to common shareholders

  $ 45,755     $ 36,406     $ 125,373     $ 170,325  

Weighted-average shares outstanding – basic

    38,856       38,303       38,693       38,167  

Dilutive effect of stock options and restricted stock units

    1,820       1,132       1,612       1,187  

Weighted-average common shares outstanding – diluted

    40,676       39,435       40,305       39,354  

Earnings per share – diluted

  $ 1.12     $ 0.92     $ 3.11     $ 4.33  

 

The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 1.8 million and 1.1 million for the quarter ended March 31, 2021 and 2020, respectively and 1.6 million and 1.2 million for the nine months ended March 31, 2021 and 2020 respectively.