Bio-Techne (TECH) 10-Q 9 Feb 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2016	Feb. 06, 2017
Document Information [Line Items]
Entity Registrant Name	BIO-TECHNE Corp
Entity Central Index Key	842,023
Trading Symbol	tech
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		37,311,809
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 131,807	$ 120,907	$ 262,388	$ 233,288
Cost of sales	46,725	39,320	92,837	76,310
Gross margin	85,082	81,587	169,551	156,978
Operating expenses:
Selling, general and administrative	55,655	34,585	101,918	67,625
Research and development	13,281	10,977	26,046	22,299
Total operating expenses	68,936	45,562	127,964	89,924
Operating income	16,146	36,025	41,587	67,054
Other income (expense)	(2,607)	(651)	(3,921)	167
Earnings before income taxes	13,539	35,374	37,666	67,221
Income taxes	7,226	9,523	15,071	18,662
Net earnings	6,313	25,851	22,595	48,559
Other comprehensive (loss) income:
Foreign currency translation adjustments	(10,066)	(7,514)	(13,301)	(20,410)
Unrealized gain (loss) on available-for-sale investments, net of tax of $(1,889), $(3,466), $(2,060), and $306, respectively	6,778	9,602	16,486	(523)
Other comprehensive (loss) income	(3,288)	2,088	3,185	(20,933)
Comprehensive income (loss)	$ 3,025	$ 27,939	$ 25,780	$ 27,626
Earnings per share:
Basic (in dollars per share)	$ 0.17	$ 0.70	$ 0.61	$ 1.31
Diluted (in dollars per share)	0.17	0.69	0.60	1.30
Cash dividends per common share: (in dollars per share)	$ 0.32	$ 0.32	$ 0.64	$ 0.64
Weighted average common shares outstanding:
Basic (in shares)	37,308	37,189	37,294	37,179
Diluted (in shares)	37,478	37,301	37,475	37,309

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Unrealized losses on availiable-for-sale investments, net of tax	$ (1,889)	$ (3,466)	$ (2,060)	$ 306

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
ASSETS
Cash and cash equivalents	$ 58,936	$ 64,237
Short-term available-for-sale investments	56,559	31,598
Trade accounts receivable, less allowance for doubtful accounts of $614 and $555, respectively	104,368	93,393
Inventories	66,089	57,102
Prepaid expenses	8,154	7,561
Total current assets	294,106	253,891
Property and equipment, net	131,952	132,362
Intangible assets, net	493,542	310,524
Goodwill	557,731	430,882
Other assets	42,694	1,922
Total Assets	1,520,025	1,129,581
LIABILITIES AND SHAREHOLDERS' EQUITY
Trade accounts payable	12,908	20,653
Salaries, wages and related accruals	15,610	14,868
Accrued expenses	19,861	8,371
Contingent consideration payable	63,500
Income taxes payable		1,779
Deferred revenue, current	4,852	4,717
Related party note payable, current	3,595	3,759
Total current liabilities	120,326	54,147
Deferred income taxes	133,239	62,837
Long-term debt obligations	343,659	91,500
Long-term contingent consideration payable	28,600	38,500
Other long-term liabilities	3,628	3,317
Shareholders' equity:
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,310,142 and 37,253,771, respectively	373	372
Additional paid-in capital	188,415	178,760
Retained earnings	769,005	770,553
Accumulated other comprehensive loss	(67,220)	(70,405)
Total shareholders' equity	890,573	879,280
Total Liabilities and Shareholders' Equity	$ 1,520,025	$ 1,129,581

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Allowance for doubtful accounts	$ 614	$ 555
Common stock authorized (in shares)	100,000,000	100,000,000
Common stock issued (in shares)	37,310,142	37,253,771
Common stock outstanding (in shares)	37,310,142	37,253,771
Common stock par value (in dollars per share)	$ 0.01	$ 0.01

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 22,595	$ 48,559
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	29,250	21,275
Costs recognized on sale of acquired inventory	8,069	2,357
Deferred income taxes	(4,384)	(1,436)
Stock-based compensation expense	7,245	4,359
Fair value adjustment to contingent consideration payable	12,400
Other	123	204
Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables	(6,406)	5,413
Inventories	(2,497)	(4,559)
Prepaid expenses	235	(1,510)
Trade accounts payable and accrued expenses	5,248	(2,071)
Salaries, wages and related accruals	(2,466)	(987)
Income taxes payable	(1,730)	(1,232)
Net cash provided by operating activities	67,682	70,372
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	(255,929)	(82,888)
Proceeds from maturities of available-for-sale investments	1,592	3,930
Purchase of available-for-sale investments	(1,625)
Additions to property and equipment	(5,295)	(11,008)
Purchase of equity investment	(40,000)
Net cash used in investing activities	(301,257)	(89,966)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends	(23,871)	(23,796)
Proceeds from stock option exercises	2,105	1,175
Excess tax benefit from stock option exercises	305	120
Borrowings under line-of-credit agreement	368,410	77,000
Payments on line-of-credit	(116,500)	(26,000)
Net cash provided by (used in) financing activities	230,449	28,499
Effect of exchange rate changes on cash and cash equivalents	(2,175)	(985)
Net increase (decrease) in cash and cash equivalents	(5,301)	7,920
Cash and cash equivalents at beginning of period	64,237	54,532
Cash and cash equivalents at end of period	$ 58,936	$ 62,452

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Basis of Presentation and Summary of Significant Accounting Policies: The interim consolidated financial statements of Bio-Techne Corporation and subsidiaries, (the Company) presented here have been prepared by the Company and are unaudited. They have been prepared in accordance with accounting principles generally accepted in the United States of America and with instructions to Form 10 10 Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These interim unaudited condensed consolidated financial statements should be read in conjunction with the Company's Consolidated Financial Statements and Notes thereto for the fiscal year ended June 30, 2016, 10 2016. 10 2016. Recently Adopted Accounting Pronouncements In April 2015, 2015 05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement July 1, 2016, July 1, 2016. In September 2015, 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. may July 1, 2016, In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments July 1, 2016. Pronouncements Issued But Not Yet Adopted In May 2014, 2014 09, Revenue from Contracts with Customers July 1, 2018. March 2016, 2016 08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) April 2016, 2016 10, Identifying Performance Obligations and Licensing, May 2016, 2016 12, Narrow-Scope Improvements and Practical Expedients 2014 09 2014 09. In July 2015, 2015 11, Simplifying the Measurement of Inventory first first December 15, 2016 July 1, 2017. 2015 11 In January 2016, 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities December 15, 2017, July 1, 2018. In February, 2016, 2016 02, Leases (Topic 842 December 15, 2018, July 1, 2019. 2016 02 In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting December 15, 2016, July 1, 2017. 2016 09 In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326), December 15, 2019, July 1, 2019. may December 15, 2018. 2016 13

Note 2 - Selected Balance Sheet

Note 2 - Selected Balance Sheet Data	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	N ote 2. : Available-For-Sale Investments: The fair value of the Company's available-for-sale investments at December 31 , 2016 June 30, 2016 $56.6 $31.6 $5.1 $1.3 $17 .7 December 31, 2016 June 30, 2016 $29.5 Inventories: Inventories consist of (in thousands): December 31, June 30, 2016 2016 Raw materials $ 22,201 $ 22,963 Finished goods 43,888 34,139 Inventories, net $ 66,089 $ 57,102 At December 31, 2016, $66.1 $57.1 June 30, 2016. June 30 $9.6 August 1, 2016. December 31, 2016 June 30, 2016, $24 Property and Equipment: Property and equipment consist of (in thousands): December 31, June 30, 2016 2016 Land $ 6,270 $ 6,270 Buildings and improvements 157,337 157,963 Machinery and equipment 90,033 82,018 Property and equipment, cost 253,640 246,251 Accumulated depreciation and amortization (121,688 ) (113,889 ) Property and equipment, net $ 131,952 $ 132,362 Intangible Assets: Intangible assets consist of (in thousands): December 31, June 30, 2016 2016 Developed technology $ 232,557 $ 120,611 Trade names 81,554 63,706 Customer relationships 272,082 191,118 Non-compete agreements 3,455 3,284 Intangible assets 589,648 378,719 Accumulated amortization (96,106 ) (75,595 ) Net amortizable intangible asset 493,542 303,124 In process research and development - 7,400 Intangible assets, net $ 493,542 $ 310,524 Changes to the carrying amount of net intangible assets for the six December 31, 2016 Beginning balance $ 310,524 Acquisitions (Note 3) 208,869 Amortization expense (21,815 ) Currency translation (4,036 ) Ending balance $ 493,542 The estimated future amortization expense for intangible assets as of December 31, 2016 2017 $ 23,193 2018 46,255 2019 45,510 2020 44,869 2021 44,528 2022 42,930 Thereafter 246,257 Total $ 493,542 G oodwill: Changes to the carrying amount of goodwill for the six December 31, 2016 Biotechnology Diagnostics Protein Platforms Total Beginning balance $ 105,181 $ 105,729 $ 219,972 $ 430,882 Acquisitions (Note 3) 130,587 130,587 Prior year acquisitions (Note 3) 1,809 1,809 Currency translation (2,580 ) (2,967 ) (5,547 ) Ending balance $ 233,188 $ 105,729 $ 218,814 $ 557,731 We evaluate the carrying value of goodwill in the fourth zero” two three fourth 2016. zero” one” one” June 30, 2016 No triggering events were identified during the six December 31, 2016. 350 July 1, 2002 . Other Assets: Other Assets consist of (in thousands): December 31, June 30, 2016 2016 Investments $ 40,000 $ - Other 2,694 1,922 $ 42,694 $ 1,922 At December 31, 2016, $42.7 $1.9 June 30, 2016. June 30 $40 .0 . during the second 2017. 20% may December 31, 2016.

Note 3 - Acquisitions

Note 3 - Acquisitions	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 3. We periodically complete business combinations that align with our business strategy. Acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at fair value as of the acquisition date and the results of operations of each acquired business are included in our consolidated statements of comprehensive income from their respective dates of acquisition. Acquisition costs are recorded in selling, general and administrative expenses as incurred. Space Import-Export, Srl On July 1, 2016 $9 1985 The business became part of the Company’s Biotechnology reportable segment in the first 2017. Certain estimated fair values are not yet finalized and are subject to change, which could be significant. The Company expects to finalize these by the filing of the 2017 10 Space Current assets, net of cash $ 2,128 Equipment 159 Intangible assets: Customer relationships 6,769 Goodwill 3,100 Total assets acquired 12,156 Liabilities 1,884 Deferred income taxes, net 1,708 Net assets acquired $ 9,004 Cash paid, net of cash acquired $ 9,004 Advanced Cell Diagnostics (ACD) On August 1, 2016, $250 $75 ● $25 2016 $30 ● an additional $50 2017 $45 If the revenue hurdle related to the 2016 $25 2017 2016 2017 $40 $45 2017, December 31, 2016 4. The goodwill recorded as a result of the ACD acquisition represents the strategic benefits of growing the Company's product portfolio and the expected revenue growth from increased market penetration from future products and customers. The goodwill is not deductible for income tax purposes. The business became part of the Company’s Biotechnology reportable segment in the first 2017. Certain estimated values are not yet finalized and are subject to change, which could be significant. The Company will finalize the amounts recognized as information necessary to complete the analysis is obtained. The Company expects to finalize these by the filing of the 2017 10 The following table (in thousands) summarizes the value of ACD assets acquired and liabilities assumed as of the acquisition date. Also summarized in the table, subsequent to the acquisition, net adjustments of $7.0 $0.7 working capital adjustment payment made during the second Preliminary Allocation at Acquisition Date Adjustments to Fair Value Updated Allocation at December 31, 2016 Current assets, net of cash $ 25,196 $ 25,196 Equipment 2,757 2,757 Other long-term assets 3,812 3,812 Intangible assets: Developed technology 107,000 107,000 Trade name 17,000 17,000 Customer relationships 77,000 77,000 Non-compete agreement 200 200 Goodwill 133,780 6,293 127,487 Total assets acquired 366,772 360,479 Liabilities 3,591 3,591 Deferred income taxes, net 78,761 (7,027 ) 71,734 Net assets acquired $ 284,393 $ 285,127 Cash paid, net of cash acquired $ 246,193 734 $ 246,927 Fair value contingent consideration 38,200 38,200 Net assets acquired $ 284,393 $ 285,127 Tangible assets acquired, net of liabilities assumed, were stated at fair value at the date of acquisitions based on management's assessment. The purchase price allocated to developed technology, trade names, and customer relationships was based on management's forecasted cash inflows and outflows and using a relief-from-royalty and a multi-period excess earnings method to calculate the fair value of assets purchased. The developed technology is being amortized with the expense reflected in cost of goods sold in the Condensed Consolidated Statement of Earnings and Comprehensive Income. Amortization expense related to trade names, and customer relationships is reflected in selling, general and administrative expenses in the Consolidated Statement of Earnings and Comprehensive Income. The preliminary amortization periods for intangible assets acquired in fiscal 2017 15 7.5 10 2 As previously disclosed, ACD was acquired on August 1, 2016. 2016. 2016. Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Net sales $ 131,807 $ 127,008 $ 263,605 $ 244,698 Net income 30,170 26,918 50,161 49,470 Prior Year Acquisitions During the six December 31, 2016, March 2016 June 30, 2016. 2: 2016 10 six December 31, 2016 $3.0 $0.9 $0.3 $1.8 June 30, 2016. third

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Fair Value, Measurement Inputs, Disclosure [Text Block]	Note 4. The company’s financial instruments include cash and cash equivalents, available for sale investments, accounts receivable, accounts payable, contingent consideration obligations, and long-term debt. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. This standard also establishes a hierarchy for inputs used in measuring fair value. This standard maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is broken down into three 1 2 3 one 3 may The following tables provide information by level for financial assets and liabilities that are measured at fair value on a recurring basis (in thousands): Total carrying value at Fair Value Measurements Using Inputs Considered as December 31, 2016 Level 1 Level 2 Level 3 Assets Corporate stocks (1) $ 47,134 $ 47,134 $ - $ - Corporate bonds (1) 5,101 5,101 - Total Assets $ 52,235 $ 47,134 $ 5,101 $ - Liabilities Contingent Consideration $ 92,100 $ - $ - $ 92,100 Total carrying value at Fair Value Measurements Using Inputs Considered as June 30, 2016 Level 1 Level 2 Level 3 Assets Corporate Stocks (1) $ 28,582 $ 28,582 $ - $ - Corporate bonds - - - - Total Assets $ 28,582 $ 28,582 $ - $ - Liabilities Contingent Consideration $ 38,500 $ - $ - $ 38,500 (1) Included in available for sale securities on the balance sheet Our available for sale securities are measured at fair value using quoted market prices in active markets for identical assets and are therefore classified as Level 1 2 2 one 2 six December, 2016. The use of different assumptions, applying different judgment to matters that inherently are subjective and changes in future market conditions could result in different estimates of fair value of our securities or contingent consideration, currently and in the future. If market conditions deteriorate, we may may In connection with the Advanced Cell Diagnostics acquisition discussed in Note 3, $35 $7 $75 The fair value of the liabilities for the contingent payments recognized upon each acquisition as part of the purchase accounting opening balance sheet totaled $79.7 ($35.0 $6.5 $38.2 3 The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) three nine December 31, 2016 Three months ended, Six months ended December 31, 2016 December 31, 2016 Fair value at the beginning of period $ 82,000 $ 38,500 Purchase price contingent consideration (Note 3) (400 ) 41,200 Change in fair value of contingent consideration 10,500 12,400 $ 92,100 $ 92,100 Fair value measurements of other financial instruments Cash and cash equivalents, certificates of deposit, accounts receivable, and accounts payable – The carrying amounts reported in the consolidated balance sheets approximate fair value because of the short-term nature of these items. Long-term debt – The carrying amounts reported in the consolidated balance sheets for the amount drawn on our line-of-credit facility approximates fair value because our interest rate is variable and reflects current market rates.

Note 5 - Debt and Other Financi

Note 5 - Debt and Other Financing Arrangements	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 5. The Company entered into a new revolving line-of-credit facility governed by a Credit Agreement (the Credit Agreement) dated July 28, 2016. $400 $200 may 0.5%, 1.00% 1.75% 15 The Credit Agreement matures on July 28, 2021 December 31, 2016, $343.5

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Income	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 6. Accumulated Other Comprehensive Income: Changes in accumulated other comprehensive income (loss), net of tax, for the six December 31, 2016 Unrealized Gains (Losses) on Available- for-Sale Investments Foreign Currency Translation Adjustments Total Beginning balance $ (5,542 ) $ (64,863 ) $ (70,405 ) Other comprehensive income (loss) 16,486 (13,301 ) 3,185 Ending balance $ 10,944 $ (78,164 ) $ (67,220 )

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 7. Earnings Per Share: Shares used in the earnings per share computations are as follows (in thousands): Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Weighted average common shares outstanding-basic 37,308 37,189 37,294 37,179 Dilutive effect of stock options and restricted stock units 170 112 181 130 Weighted average common shares outstanding-diluted 37,478 37,301 37,475 37,309 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 2.0 1.2 six December 31, 2016 2015,

Note 8 - Share-based Compensati

Note 8 - Share-based Compensation	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 8. During the six December 31, 2016 2015, 1.1 777,000 $107.40 $105.67 $18.13 $18.59, six December 31, 2016 2015, 64,931 35,000 $109.36 $105.01, six December 31, 2016 2015, 23,965 19,994 $104.94 $99.53, . Stock options for 23,145 13,000 $1.0 $0.5 six December 31, 2016 2015, Stock-based compensation expense of $4.1 $2.3 three December 31, 2016 2015, $7.2 $4.4 six December 31, 2016 2015, December 31, 2016, $33.0 2.7

Note 9 - Other Income (Expense)

Note 9 - Other Income (Expense)	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	Note 9. The components of other income (expense) in the accompanying Statement of Earnings and Comprehensive Income are as follows: Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Interest expense $ (1,835 ) $ (400 ) $ (3,178 ) $ (851 ) Interest income 89 51 138 112 Other non-operating income (expense), net (861 ) (302 ) (881 ) 906 Other income (expense) $ (2,607 ) $ (651 ) $ (3,921 ) $ 167

Note 10 - Income Taxes

Note 10 - Income Taxes	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 10. The company’s tax rate was 53.4% 26.9% second 2017 2016, 40.0% 27.8% first six 2017 2016, second first six 2017 second first six 2016 The company recognized net expense related to discrete tax items of $4.5 second 2017 $4.5 first six 2017. $4.6 No material discrete tax items were recorded during the second first six 2016.

Note 11 - Segment Information

Note 11 - Segment Information	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 11. The Company's management evaluates segment operating performance based on operating income before certain charges to cost of sales and selling, general and administrative expenses, principally associated with acquisition accounting related to inventory, amortization of acquisition-related intangible assets and other acquisition-related expenses. Beginning in the first 2017, 2014 2016, The following is financial information relating to the Company's reportable segments (in thousands): Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Net sales: Biotechnology $ 85,953 $ 75,854 $ 172,740 $ 151,597 Diagnostics 24,330 25,723 48,563 46,085 Protein Platforms 21,548 19,337 41,121 35,634 Intersegment (24 ) (7 ) (36 ) (28 ) Consolidated net sales $ 131,807 $ 120,907 $ 262,388 $ 233,288 Segment operating income: Biotechnology $ 39,474 $ 39,986 $ 81,954 $ 79,302 Diagnostics 5,801 7,297 12,104 12,010 Protein Platforms 1,843 1,528 2,052 356 Subtotal reportable segments 47,118 48,811 96,110 91,668 Costs recognized on sale of acquired inventory (3,848 ) (1,245 ) (8,069 ) (2,357 ) Amortization of acquisition related intangible assets (11,627 ) (7,361 ) (21,815 ) (14,772 ) Acquisition related expenses (10,732 ) (670 ) (15,101 ) (970 ) Stock based compensation (4,055 ) (2,321 ) (7,245 ) (4,359 ) Corporate general, selling, and administrative (710 ) (1,189 ) (2,293 ) (2,156 ) Consolidated operating income $ 16,146 $ 36,025 $ 41,587 $ 67,054

Note 12 - Subsequent Events

Note 12 - Subsequent Events	6 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12. In January 2017 first $3.5 January 17 , 2017.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In April 2015, 2015 05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement July 1, 2016, July 1, 2016. In September 2015, 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. may July 1, 2016, In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments July 1, 2016. Pronouncements Issued But Not Yet Adopted In May 2014, 2014 09, Revenue from Contracts with Customers July 1, 2018. March 2016, 2016 08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) April 2016, 2016 10, Identifying Performance Obligations and Licensing, May 2016, 2016 12, Narrow-Scope Improvements and Practical Expedients 2014 09 2014 09. In July 2015, 2015 11, Simplifying the Measurement of Inventory first first December 15, 2016 July 1, 2017. 2015 11 In January 2016, 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities December 15, 2017, July 1, 2018. In February, 2016, 2016 02, Leases (Topic 842 December 15, 2018, July 1, 2019. 2016 02 In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting December 15, 2016, July 1, 2017. 2016 09 In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326), December 15, 2019, July 1, 2019. may December 15, 2018. 2016 13

Note 2 - Selected Balance She20

Note 2 - Selected Balance Sheet Data (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, June 30, 2016 2016 Raw materials $ 22,201 $ 22,963 Finished goods 43,888 34,139 Inventories, net $ 66,089 $ 57,102
Property, Plant and Equipment [Table Text Block]	December 31, June 30, 2016 2016 Land $ 6,270 $ 6,270 Buildings and improvements 157,337 157,963 Machinery and equipment 90,033 82,018 Property and equipment, cost 253,640 246,251 Accumulated depreciation and amortization (121,688 ) (113,889 ) Property and equipment, net $ 131,952 $ 132,362
Schedule of Intangible Assets and Goodwill [Table Text Block]	December 31, June 30, 2016 2016 Developed technology $ 232,557 $ 120,611 Trade names 81,554 63,706 Customer relationships 272,082 191,118 Non-compete agreements 3,455 3,284 Intangible assets 589,648 378,719 Accumulated amortization (96,106 ) (75,595 ) Net amortizable intangible asset 493,542 303,124 In process research and development - 7,400 Intangible assets, net $ 493,542 $ 310,524
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Beginning balance $ 310,524 Acquisitions (Note 3) 208,869 Amortization expense (21,815 ) Currency translation (4,036 ) Ending balance $ 493,542
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2017 $ 23,193 2018 46,255 2019 45,510 2020 44,869 2021 44,528 2022 42,930 Thereafter 246,257 Total $ 493,542
Schedule of Goodwill [Table Text Block]	Biotechnology Diagnostics Protein Platforms Total Beginning balance $ 105,181 $ 105,729 $ 219,972 $ 430,882 Acquisitions (Note 3) 130,587 130,587 Prior year acquisitions (Note 3) 1,809 1,809 Currency translation (2,580 ) (2,967 ) (5,547 ) Ending balance $ 233,188 $ 105,729 $ 218,814 $ 557,731
Schedule of Other Assets, Noncurrent [Table Text Block]	December 31, June 30, 2016 2016 Investments $ 40,000 $ - Other 2,694 1,922 $ 42,694 $ 1,922

Note 3 - Acquisitions (Tables)

Note 3 - Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Business Acquisition, Pro Forma Information [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Net sales $ 131,807 $ 127,008 $ 263,605 $ 244,698 Net income 30,170 26,918 50,161 49,470
Advanced Cell Diagnostics (ACD) [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Preliminary Allocation at Acquisition Date Adjustments to Fair Value Updated Allocation at December 31, 2016 Current assets, net of cash $ 25,196 $ 25,196 Equipment 2,757 2,757 Other long-term assets 3,812 3,812 Intangible assets: Developed technology 107,000 107,000 Trade name 17,000 17,000 Customer relationships 77,000 77,000 Non-compete agreement 200 200 Goodwill 133,780 6,293 127,487 Total assets acquired 366,772 360,479 Liabilities 3,591 3,591 Deferred income taxes, net 78,761 (7,027 ) 71,734 Net assets acquired $ 284,393 $ 285,127 Cash paid, net of cash acquired $ 246,193 734 $ 246,927 Fair value contingent consideration 38,200 38,200 Net assets acquired $ 284,393 $ 285,127
Space [Member]
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Space Current assets, net of cash $ 2,128 Equipment 159 Intangible assets: Customer relationships 6,769 Goodwill 3,100 Total assets acquired 12,156 Liabilities 1,884 Deferred income taxes, net 1,708 Net assets acquired $ 9,004 Cash paid, net of cash acquired $ 9,004

Note 4 - Fair Value Measureme22

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total carrying value at Fair Value Measurements Using Inputs Considered as December 31, 2016 Level 1 Level 2 Level 3 Assets Corporate stocks (1) $ 47,134 $ 47,134 $ - $ - Corporate bonds (1) 5,101 5,101 - Total Assets $ 52,235 $ 47,134 $ 5,101 $ - Liabilities Contingent Consideration $ 92,100 $ - $ - $ 92,100 Total carrying value at Fair Value Measurements Using Inputs Considered as June 30, 2016 Level 1 Level 2 Level 3 Assets Corporate Stocks (1) $ 28,582 $ 28,582 $ - $ - Corporate bonds - - - - Total Assets $ 28,582 $ 28,582 $ - $ - Liabilities Contingent Consideration $ 38,500 $ - $ - $ 38,500
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three months ended, Six months ended December 31, 2016 December 31, 2016 Fair value at the beginning of period $ 82,000 $ 38,500 Purchase price contingent consideration (Note 3) (400 ) 41,200 Change in fair value of contingent consideration 10,500 12,400 $ 92,100 $ 92,100

Note 6 - Accumulated Other Co23

Note 6 - Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Unrealized Gains (Losses) on Available- for-Sale Investments Foreign Currency Translation Adjustments Total Beginning balance $ (5,542 ) $ (64,863 ) $ (70,405 ) Other comprehensive income (loss) 16,486 (13,301 ) 3,185 Ending balance $ 10,944 $ (78,164 ) $ (67,220 )

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Weighted average common shares outstanding-basic 37,308 37,189 37,294 37,179 Dilutive effect of stock options and restricted stock units 170 112 181 130 Weighted average common shares outstanding-diluted 37,478 37,301 37,475 37,309

Note 9 - Other Income (Expens25

Note 9 - Other Income (Expense) (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Interest expense $ (1,835 ) $ (400 ) $ (3,178 ) $ (851 ) Interest income 89 51 138 112 Other non-operating income (expense), net (861 ) (302 ) (881 ) 906 Other income (expense) $ (2,607 ) $ (651 ) $ (3,921 ) $ 167

Note 11 - Segment Information (

Note 11 - Segment Information (Tables)	6 Months Ended
	Dec. 31, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Six Months Ended December 31, December 31, 2016 2015 2016 2015 Net sales: Biotechnology $ 85,953 $ 75,854 $ 172,740 $ 151,597 Diagnostics 24,330 25,723 48,563 46,085 Protein Platforms 21,548 19,337 41,121 35,634 Intersegment (24 ) (7 ) (36 ) (28 ) Consolidated net sales $ 131,807 $ 120,907 $ 262,388 $ 233,288 Segment operating income: Biotechnology $ 39,474 $ 39,986 $ 81,954 $ 79,302 Diagnostics 5,801 7,297 12,104 12,010 Protein Platforms 1,843 1,528 2,052 356 Subtotal reportable segments 47,118 48,811 96,110 91,668 Costs recognized on sale of acquired inventory (3,848 ) (1,245 ) (8,069 ) (2,357 ) Amortization of acquisition related intangible assets (11,627 ) (7,361 ) (21,815 ) (14,772 ) Acquisition related expenses (10,732 ) (670 ) (15,101 ) (970 ) Stock based compensation (4,055 ) (2,321 ) (7,245 ) (4,359 ) Corporate general, selling, and administrative (710 ) (1,189 ) (2,293 ) (2,156 ) Consolidated operating income $ 16,146 $ 36,025 $ 41,587 $ 67,054

Note 2 - Selected Balance She27

Note 2 - Selected Balance Sheet Data (Details Textual) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 30, 2016USD ($)
Available-for-sale Securities	$ 56,600	$ 56,600		$ 31,600
Payments to Acquire Available-for-sale Securities		1,625
Inventory, Net	66,089	66,089		57,102
Inventory Valuation Reserves	24,000	24,000
Other Assets, Noncurrent	42,694	42,694		1,922
Payments to Acquire Investments		$ 40,000
Number of Reporting Units		3
Astute Medical, Inc. [Member]
Payments to Acquire Investments	40,000
ChemoCentryx, Inc (CCXI) [Member]
Available-for-sale Equity Securities, Gross Unrealized Gain		$ 17,700
Available-for-sale Equity Securities, Amortized Cost Basis	29,500	29,500		29,500
Certificates of Deposit [Member] | CHINA
Payments to Acquire Available-for-sale Securities		1,300
Advanced Cell Diagnostics (ACD) [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory				$ 9,600
Advanced Cell Diagnostics (ACD) [Member] | Available-for-sale Securities [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities	$ 5,100	$ 5,100

Note 2 - Selected Balance She28

Note 2 - Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Raw materials	$ 22,201	$ 22,963
Finished goods	43,888	34,139
Inventories, net	$ 66,089	$ 57,102

Note 2 - Selected Balance She29

Note 2 - Selected Balance Sheet Data - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Property and equipment, cost	$ 253,640	$ 246,251
Accumulated depreciation and amortization	(121,688)	(113,889)
Property and equipment, net	131,952	132,362
Land [Member]
Property and equipment, cost	6,270	6,270
Building and Building Improvements [Member]
Property and equipment, cost	157,337	157,963
Machinery and Equipment [Member]
Property and equipment, cost	$ 90,033	$ 82,018

Note 2 - Selected Balance She30

Note 2 - Selected Balance Sheet Data - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Intangible assets	$ 589,648	$ 378,719
Accumulated amortization	(96,106)	(75,595)
Net amortizable intangible asset	493,542	303,124
Intangible assets, net	493,542	310,524
In Process Research and Development, Not Amortizable [Member]
In process research and development		7,400
Developed Technology Rights [Member]
Intangible assets	232,557	120,611
Trade Names [Member]
Intangible assets	81,554	63,706
Customer Relationships [Member]
Intangible assets	272,082	191,118
Noncompete Agreements [Member]
Intangible assets	$ 3,455	$ 3,284

Note 2 - Selected Balance She31

Note 2 - Selected Balance Sheet Data - Changes to Carrying Amount of Net Intangible Assets (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2016USD ($)
Beginning balance	$ 310,524
Acquisitions (Note 3)	208,869
Amortization expense	(21,815)
Currency translation	(4,036)
Ending balance	$ 493,542

Note 2 - Selected Balance She32

Note 2 - Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
2,017	$ 23,193
2,018	46,255
2,019	45,510
2,020	44,869
2,021	44,528
2,022	42,930
Thereafter	246,257
Total	$ 493,542	$ 303,124

Note 2 - Selected Balance She33

Note 2 - Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2016USD ($)
Beginning balance	$ 430,882
Acquisitions (Note 3)	130,587
Prior year acquisitions (Note 3)	1,809
Currency translation	(5,547)
Ending balance	557,731
Biotechnology [Member]
Beginning balance	105,181
Acquisitions (Note 3)	130,587
Prior year acquisitions (Note 3)
Currency translation	(2,580)
Ending balance	233,188
Diagnostics [Member]
Beginning balance	105,729
Acquisitions (Note 3)
Prior year acquisitions (Note 3)
Currency translation
Ending balance	105,729
Protein Platforms [Member]
Beginning balance	219,972
Acquisitions (Note 3)
Prior year acquisitions (Note 3)	1,809
Currency translation	(2,967)
Ending balance	$ 218,814

Note 2 - Selected Balance She34

Note 2 - Selected Balance Sheet Data - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jun. 30, 2016
Investments	$ 40,000
Other	2,694	1,922
Other assets	$ 42,694	$ 1,922

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Aug. 01, 2016	Jul. 01, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Business Combination, Contingent Consideration, Liability			$ 92,100	$ 92,100	$ 92,100		$ 38,500
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability					12,400
Goodwill, Purchase Accounting Adjustments					$ 1,809
Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life					15 years
Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life					7 years 182 days
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life					10 years
Noncompete Agreements [Member]
Finite-Lived Intangible Asset, Useful Life					2 years
Space [Member]
Payments to Acquire Businesses, Gross		$ 9,000
Advanced Cell Diagnostics (ACD) [Member]
Payments to Acquire Businesses, Gross	$ 250,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	75,000		75,000	75,000	$ 75,000
Business Combination, Purchase Price Allocation, Subsequent Adjustment			7,000
Business Combination, Working Capital, Subsequent Adjustment			700
Goodwill, Purchase Accounting Adjustments				(6,293)
Advanced Cell Diagnostics (ACD) [Member] | The 2016 Revenue Equal or Exceed $30 Milliom [Member]
Business Combination, Contingent Consideration, Liability	25,000
Business Combination, Contingent Consideration, Liability, Trigger Amount of Revenue	30,000
Advanced Cell Diagnostics (ACD) [Member] | The 2017 Revenues Equal or Exceed $45 Million [Member]
Business Combination, Contingent Consideration, Liability	50,000
Business Combination, Contingent Consideration, Liability, Trigger Amount of Revenue	45,000
Advanced Cell Diagnostics (ACD) [Member] | The 2016 Revenue Hurdle Not Met and 2017 Revenue Hurdle Met [Member]
Business Combination, Contingent Consideration, Liability	25,000
Advanced Cell Diagnostics (ACD) [Member] | Trigger a Reduced Earn-Out Payment [Member] | Minimum [Member]
Business Combination, Contingent Consideration, Liability, Trigger Amount of Revenue	40,000
Advanced Cell Diagnostics (ACD) [Member] | Trigger a Reduced Earn-Out Payment [Member] | Maximum [Member]
Business Combination, Contingent Consideration, Liability, Trigger Amount of Revenue	$ 45,000
Zephyrus [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 7,000	$ 7,000	7,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability					3,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles					900
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Deferred Tax Assets					$ 300
Goodwill, Purchase Accounting Adjustments							$ 1,800

Note 3 - Acquisitions - Prelimi

Note 3 - Acquisitions - Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed Pending Final Valuation of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Intangible assets:
Goodwill	$ 557,731		$ 430,882
Cash paid, net of cash acquired	255,929	$ 82,888
Space [Member]
Current assets, net of cash	2,128
Equipment	159
Intangible assets:
Goodwill	3,100
Total assets acquired	12,156
Liabilities	1,884
Deferred income taxes, net	1,708
Net assets acquired	9,004
Cash paid, net of cash acquired	9,004
Space [Member] | Customer Relationships [Member]
Intangible assets:
Intangible assets	$ 6,769

Note 3 - Acquisitions - Summari

Note 3 - Acquisitions - Summarize Fair Value of Assets and Liabilities Assumed as of Acquisition Date (Details) - USD ($) $ in Thousands	Aug. 01, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Jun. 30, 2016
Goodwill		$ 557,731	$ 557,731		$ 430,882
Goodwill			(1,809)
Cash paid, net of cash acquired			255,929	$ 82,888
Long-term contingent consideration payable		28,600	28,600		$ 38,500
Advanced Cell Diagnostics (ACD) [Member]
Current assets, net of cash	$ 25,196	25,196	25,196
Equipment	2,757	2,757	2,757
Other long-term assets	3,812	3,812	3,812
Goodwill	133,780	127,487	127,487
Goodwill		6,293
Total assets acquired	366,772	360,479	360,479
Liabilities	3,591	3,591	3,591
Deferred income taxes, net	78,761	71,734	71,734
Deferred income taxes, net		(7,027)
Net assets acquired	284,393	285,127	285,127
Cash paid, net of cash acquired	246,193	734	246,927
Long-term contingent consideration payable	38,200	38,200	38,200
Advanced Cell Diagnostics (ACD) [Member] | Developed Technology Rights [Member]
Intangible assets	107,000	107,000	107,000
Advanced Cell Diagnostics (ACD) [Member] | Trade Names [Member]
Intangible assets	17,000	17,000	17,000
Advanced Cell Diagnostics (ACD) [Member] | Customer Relationships [Member]
Intangible assets	77,000	77,000	77,000
Advanced Cell Diagnostics (ACD) [Member] | Noncompete Agreements [Member]
Intangible assets	$ 200	$ 200	$ 200

Note 3 - Acquisitions - Pro For

Note 3 - Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 131,807	$ 127,008	$ 263,605	$ 244,698
Net income	$ 30,170	$ 26,918	$ 50,161	$ 49,470

Note 4 - Fair Value Measureme39

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions	Dec. 31, 2016	Aug. 01, 2016	Mar. 14, 2016	Nov. 03, 2014
CyVek, Inc. [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 35
Business Combination, Liabilities Arising from Contingencies, Amount Recognized				$ 35
Zephyrus [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	7
Business Combination, Liabilities Arising from Contingencies, Amount Recognized			$ 6.5
Advanced Cell Diagnostics (ACD) [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	75	$ 75
Business Combination, Liabilities Arising from Contingencies, Amount Recognized		$ 38.2
Advance Cell Diagnostics (ACD), Zephyrus, and CyVek Inc.[Member]
Business Combination, Liabilities Arising from Contingencies, Amount Recognized	$ 79.7

Note 4 - Fair Value Measureme40

Note 4 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands		Dec. 31, 2016		Jun. 30, 2016
Total Assets		$ 52,235		$ 28,582
Contingent Consideration		92,100		38,500
Fair Value, Inputs, Level 1 [Member]
Total Assets		47,134		28,582
Contingent Consideration
Fair Value, Inputs, Level 2 [Member]
Total Assets		5,101
Contingent Consideration
Fair Value, Inputs, Level 3 [Member]
Total Assets
Contingent Consideration		92,100		38,500
Equity Securities [Member]
Corporate stocks (1)	[1]	47,134		28,582
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Corporate stocks (1)	[1]	47,134		28,582
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate stocks (1)	[1]
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Corporate stocks (1)	[1]
Corporate Debt Securities [Member]
Corporate stocks (1)		5,101	[1]
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Corporate stocks (1)			[1]
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate stocks (1)		5,101	[1]
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Corporate stocks (1)			[1]
[1]	Included in available for sale securities on the balance sheet

Note 4 - Fair Value Measureme41

Note 4 - Fair Value Measurements - Liability Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - Contingent Consideration [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2016
Fair value at the beginning of period	$ 82	$ 38.5
Purchase price contingent consideration (Note 3)	(0.4)	41.2
Change in fair value of contingent consideration	10.5	12.4
Fair value at the ending of period	$ 92.1	$ 92.1

Note 5 - Debt and Other Finan42

Note 5 - Debt and Other Financing Arrangements (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Millions	Aug. 01, 2016	Dec. 31, 2016
Line of Credit Facility, Current Borrowing Capacity	$ 400
Line of Credit Facility, Additional Borrowing Capacity	$ 200
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Long-term Line of Credit		$ 343.5
Federal Funds Effective Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%

Note 6 - Accumulated Other Co43

Note 6 - Accumulated Other Comprehensive Income - Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Beginning balance			$ (70,405)
Other comprehensive income (loss)	$ (3,288)	$ 2,088	3,185	$ (20,933)
Ending balance	(67,220)		(67,220)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Beginning balance			(5,542)
Other comprehensive income (loss)			16,486
Ending balance	10,944		10,944
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Beginning balance			(64,863)
Other comprehensive income (loss)			(13,301)
Ending balance	$ (78,164)		$ (78,164)

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual) - shares shares in Millions	6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2	1.2

Note 7 - Earnings Per Share - S

Note 7 - Earnings Per Share - Shares Used in the Earnings Per Share Computations (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Basic (in shares)	37,308	37,189	37,294	37,179
Dilutive effect of stock options and restricted stock units (in shares)	170	112	181	130
Weighted average common shares outstanding-diluted (in shares)	37,478	37,301	37,475	37,309

Note 8 - Share-based Compensa46

Note 8 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1,100,000	777,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 107.40	$ 105.67
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 18.13	$ 18.59
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			23,145	13,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 1	$ 0.5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 33		$ 33
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 255 days
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense	$ 4.1	$ 2.3	$ 7.2	$ 4.4
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			64,931	35,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 109.36	$ 105.01
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			23,965	19,994
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 104.94	$ 99.53

Note 9 - Other Income (Expens47

Note 9 - Other Income (Expense) - Schedule of Components of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Interest expense	$ (1,835)	$ (400)	$ (3,178)	$ (851)
Interest income	89	51	138	112
Other non-operating income (expense), net	(861)	(302)	(881)	906
Other income (expense)	$ (2,607)	$ (651)	$ (3,921)	$ 167

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, Percent	53.40%	26.90%	40.00%	27.80%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Discrete Tax Items	$ 4,500	$ 0	$ 4,500	$ 0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Revaluation of Contingent Consideration			$ 4,600

Note 11 - Segment Information -

Note 11 - Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Net sales	$ 131,807	$ 120,907	$ 262,388	$ 233,288
Operating income	16,146	36,025	41,587	67,054
Costs recognized on sale of acquired inventory	(3,848)	(1,245)	(8,069)	(2,357)
Amortization of acquisition related intangible assets			(21,815)
Acquisition related expenses	(10,732)	(670)	(15,101)	(970)
Stock based compensation	(4,055)	(2,321)	(7,245)	(4,359)
Corporate general, selling, and administrative	(55,655)	(34,585)	(101,918)	(67,625)
Acquisition Related [Member]
Amortization of acquisition related intangible assets	(11,627)	(7,361)	(21,815)	(14,772)
Operating Segments [Member]
Operating income	47,118	48,811	96,110	91,668
Intersegment Eliminations [Member]
Net sales	(24)	(7)	(36)	(28)
Corporate, Non-Segment [Member]
Corporate general, selling, and administrative	(710)	(1,189)	(2,293)	(2,156)
Biotechnology [Member] | Operating Segments [Member]
Net sales	85,953	75,854	172,740	151,597
Operating income	39,474	39,986	81,954	79,302
Diagnostics [Member] | Operating Segments [Member]
Net sales	24,330	25,723	48,563	46,085
Operating income	5,801	7,297	12,104	12,010
Protein Platforms [Member] | Operating Segments [Member]
Net sales	21,548	19,337	41,121	35,634
Operating income	$ 1,843	$ 1,528	$ 2,052	$ 356

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - USD ($) $ in Thousands	Jan. 17, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ 12,400
Zephyrus [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ 3,000
Subsequent Event [Member] | Zephyrus [Member]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ (3,500)