Bio-Techne (TECH) 10-Q 9 May 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 02, 2018
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)		37,573,865
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 163,973	$ 144,037	$ 462,739	$ 406,425
Cost of sales	53,712	47,355	152,777	134,256
Gross margin	110,261	96,682	309,962	272,169
Operating expenses:
Selling, general and administrative	53,285	49,409	175,349	151,814
Research and development	13,892	13,771	41,350	39,817
Total operating expenses	67,177	63,180	216,699	191,631
Operating income	43,084	33,502	93,263	80,538
Other income (expense), net	(18,102)	(2,361)	(23,581)	(6,425)
Earnings before income taxes	24,982	31,141	69,682	74,113
Income tax expense (benefit)	5,244	8,974	(14,767)	25,637
Net earnings	19,738	22,167	84,449	48,476
Other comprehensive income:
Foreign currency translation adjustments	2,297	2,400	10,787	(10,899)
Unrealized gain (loss) on available-for-sale investments, net of tax of $(10,120), $293, $(4,745), and $(1,767), respectively	38,659	(475)	22,286	16,010
Other comprehensive income	40,956	1,925	33,073	5,111
Comprehensive income	$ 60,694	$ 24,092	$ 117,522	$ 53,587
Earnings per share:
Basic (in dollars per share)	$ 0.53	$ 0.59	$ 2.25	$ 1.30
Diluted (in dollars per share)	0.52	0.59	2.22	1.29
Cash dividends per common share: (in dollars per share)	$ 0.32	$ 0.32	$ 0.96	$ 0.96
Weighted average common shares outstanding:
Basic (in shares)	37,503	37,320	37,450	37,303
Diluted (in shares)	38,142	37,494	37,933	37,486

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Unrealized gains and losses on availiable-for-sale investments, net of tax	$ (10,120)	$ 293	$ (4,745)	$ (1,767)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
ASSETS
Cash and cash equivalents	$ 86,608	$ 91,612
Short-term available-for-sale investments	89,826	66,102
Accounts receivable, less allowance for doubtful accounts of $822 and $696, respectively	109,759	116,830
Inventories	88,586	60,151
Prepaid expenses and other	18,725	13,330
Total current assets	393,504	348,025
Property and equipment, net	142,779	135,124
Goodwill	610,667	579,026
Intangible assets, net	443,794	452,042
Other assets	27,064	44,002
Total assets	1,617,808	1,558,219
LIABILITIES AND SHAREHOLDERS' EQUITY
Trade accounts payable	14,530	16,856
Salaries, wages and related accruals	19,839	26,602
Accrued expenses	18,767	18,518
Deferred revenue	7,841	5,968
Income taxes payable	6,412	2,478
Contingent consideration payable	3,500	65,100
Total current liabilities	70,889	135,522
Deferred income taxes	86,987	120,596
Long-term debt obligations	392,500	343,771
Long-term contingent consideration payable		3,300
Other long-term liabilities	9,140	5,403
Shareholders' equity:
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,545,189 and 37,333,015, respectively	375	374
Additional paid-in capital	226,469	199,161
Retained earnings	847,310	799,027
Accumulated other comprehensive loss	(15,862)	(48,935)
Total shareholders' equity	1,058,292	949,627
Total liabilities and shareholders’ equity	$ 1,617,808	$ 1,558,219

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Accounts receivable, allowance for doubtful accounts	$ 822	$ 696
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	100,000,000	100,000,000
Common stock issued (in shares)	37,545,189	37,333,015
Common stock outstanding (in shares)	37,545,189	37,333,015

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 84,449	$ 48,476
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	47,311	45,288
Costs recognized on sale of acquired inventory	2,013	2,770
Deferred income taxes	(48,030)	(5,323)
Stock-based compensation expense	13,587	11,219
Fair value adjustment to contingent consideration payable	20,100	14,100
Payments of contingent consideration	(26,200)	(9,117)
Impairment of investment	16,226
Other operating activity	1,664	(911)	[1]
Change in operating assets and operating liabilities, net of acquisition:
Trade accounts and other receivables	9,399	(19,943)
Inventories	(11,576)	(3,576)
Prepaid expenses	858	(1,913)
Trade accounts payable and accrued expenses	1,665	7,298
Salaries, wages and related accruals	(4,159)	2,305
Income taxes payable	(1,779)	2,200
Net cash provided by operating activities	105,528	92,873
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	(65,066)	(253,941)
Proceeds from maturities of available-for-sale investments	6,563	3,624
Purchases of available-for-sale investments	(3,061)	(1,625)
Purchases of property and equipment	(15,116)	(9,311)
Purchase of equity investment		(40,000)
Net cash used in investing activities	(76,680)	(301,253)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash dividends	(35,941)	(35,814)
Proceeds from stock option exercises	13,724	3,630
Excess tax benefit from stock option exercises		402
Borrowings under line-of-credit agreement	55,000	368,500
Payments on line-of-credit	(6,000)	(116,500)
Payments of contingent consideration	(58,800)	(14,203)
Other financing	(4,339)	(257)
Net cash (used in) provided by financing activities	(36,356)	205,758
Effect of exchange rate changes on cash and cash equivalents	2,504	(1,775)
Net decrease in cash and cash equivalents	(5,004)	(4,397)
Cash and cash equivalents at beginning of period	91,612	64,237
Cash and cash equivalents at end of period	86,608	59,840
Supplemental disclosure of cash flow information:
Cash paid for interest	6,877	5,285
Cash paid for income taxes	$ 31,103	$ 31,863
[1]	Does not cross-foot due to the retrospective adoption of the cash flow presentation of employee taxes paid for shares withheld as part of ASU 2016-09

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. 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 X. 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, 2017, 10 2017. 10 2017. As disclosed in the June 30, 2017 10 fourth 2017, first 2017. not fourth 2017 2017 250, The impact of this revision on our unaudited consolidated statement of earnings and comprehensive income was as follows: Quarter Ended March 3 1 , 201 7 As Previously Reported Adjustment As Revised Cost of sales $ 49,854 $ (2,499 ) $ 47,355 Selling, general and administrative 48,107 1,302 49,409 Other (expense) income (2,275 ) (86 ) (2,361 ) Earnings before income taxes 30,030 1,111 31,141 Income taxes 8,641 333 8,974 Net earnings 21,389 778 22,167 Comprehensive income 23,314 778 24,092 Nine Months Ended March 3 1 , 201 7 As Previously Reported Adjustment As Revised Cost of sales $ 142,691 $ (8,435 ) $ 134,256 Selling, general and administrative 150,025 1,789 151,814 Other (expense) income (6,196 ) (229 ) (6,425 ) Earnings before income taxes 67,696 6,417 74,113 Income taxes 23,712 1,925 25,637 Net earnings 43,984 4,492 48,476 Comprehensive income 49,095 4,492 53,587 The revisions had no nine March 31, 2017 Nine Months Ended March 31 , 201 7 As Previously Reported Adjustment As Revised Costs recognized on the sale of acquired inventory $ 11,205 $ (8,435 ) $ 2,770 Other operating (1) 331 (1,494 ) (911 ) Changes in salaries, wages and related accruals (1,207 ) 3,512 2,305 Changes in income tax payable 275 1,925 2,200 ( 1 Does not 2016 09 Recently Adopted Accounting Pronouncements In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting July 1, 2017. In July 2015, 2015 11, Simplifying the Measurement of Inventory first first July 1, 2017. not Pronouncements Issued But Not In May 2014, No. 2014 09, Revenue from Contracts with Customers July 1, 2018. March 2016, No. 2016 08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) April 2016, No. 2016 10, Identifying Performance Obligations and Licensing, May 2016, No. 2016 12, Narrow-Scope Improvements and Practical Expedients No. 2014 09 No. 2014 09. The Company’s approach to implementing the new standard includes performing a detailed review of key contracts representative of its different businesses and comparing historical accounting policies and practices to the new standard. The guidance permits two The Company is continuing to assess the impact on our consolidated financial statements by finalizing our location surveys, reviewing unique customer contract terms, and developing processes to manage the changes in the revenue recognition guidance and gather information for the required disclosures. The company expects this process will be complete during the fourth 2018. not In January 2016, No. 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities no December 15, 2017, July 1, 2018. In February 2016, 2016 02, Leases (Topic 842 December 15, 2018, July 1, 2019. 2016 02 In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 December 15, 2019, July 1, 2020. may December 15, 2018. 2016 13 In January 2017, No. 2017 01, Clarifying the Definition of a Business December 15, 2017, July 1, 2018. In May 2017, No. 2017 09, Scope of Modification Accounting may December 15, 2017, July 1, 2018. not In February 2018, No. 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017. December 15, 2018, July 1, 2019. not

Note 2 - Selected Balance Sheet

Note 2 - Selected Balance Sheet Data	9 Months Ended
	Mar. 31, 2018
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 March 31, 2018 June 30, 2017 $89.8 $66.1 $23.7 $27.0 $59.6 June 30, 2017 $86.6 March 31, 2018. $2.1 $1.4 March 31, 2018 June 30, 2017 $29.5 Inventories: Inventories consist of (in thousands): March 31, June 30, 2018 2017 Raw materials $ 29,414 $ 22,074 Finished goods 59,172 38,077 Inventories, net $ 88,586 $ 60,151 Property and Equipment: Property and equipment consist of (in thousands): March 31, June 30, 2018 2017 Land $ 7,064 $ 6,270 Buildings and improvements 172,305 158,495 Machinery and equipment 106,058 98,596 Property and equipment, cost 285,427 263,361 Accumulated depreciation and amortization (142,648 ) (128,237 ) Property and equipment, net $ 142,779 $ 135,124 Intangible Assets: Intangible assets consist of (in thousands): March 31, June 30, 2018 2017 Developed technology $ 292,825 $ 276,959 Trade names 88,961 87,092 Customer relationships 214,107 204,243 Non-compete agreements 3,286 3,264 Patents 1,242 633 Intangible assets 600,421 572,191 Accumulated amortization (156,627 ) (120,149 ) Intangible assets, net $ 443,794 $ 452,042 Changes to the carrying amount of net intangible assets for the nine March 31, 2018 Beginning balance $ 452,042 Acquisitions 23,292 Other additions 796 Amortization expense (34,611 ) Currency translation 2,275 Ending balance $ 443,794 The estimated future amortization expense for intangible assets as of March 31, 2018 2018 $ 11,953 2019 47,125 2020 46,422 2021 46,035 2022 44,213 Thereafter 248,046 Total $ 443,794 Goodwill: Changes to the carrying amount of goodwill for the nine March 31, 2018 Biotechnology Protein Platforms Diagnostics Total Beginning balance $ 254,930 $ 220,826 $ 103,270 $ 579,026 Acquisitions (Note 3) 27,686 - 113 27,799 Currency translation 3,416 454 (28 ) 3,842 Ending balance $ 286,032 $ 221,280 $ 103,355 $ 610,667 We evaluate the carrying value of goodwill in the fourth three fourth 2017. June 30, 2017. No March 31, 2018. no 350 July 1, 2002. Other Assets: Other Assets consist of (in thousands): March 31, June 30, 2018 2017 Investments $ 24,181 $ 40,385 Other 2,883 3,617 Other assets $ 27,064 $ 44,002 As of March 31, 2018, $27.1 $44.0 June 30, 2017. 16.4% third third $16.2 third $23.8 March 31, 2018.

Note 3 - Acquisitions

Note 3 - Acquisitions	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 3 . Acquisitions: 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 that the results of operations of each acquired business be 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. Trevigen On September 5, 2017 $10.6 not first 2018. Certain estimated fair values are not fourth 2018 Preliminary Allocation at Acquisition Date Adjustments to Fair Value Updated Opening Balance Sheet Allocation at March 31 , 2018 Current assets, net of cash $ 1,662 $ 1,662 Equipment and other long-term assets 154 (101 ) 53 Intangible assets: Developed technology 3,800 1,300 5,100 Trade name 1,400 (1,240 ) 160 Customer relationships 1,900 (1,640 ) 260 Goodwill 4,595 1,396 5,991 Total assets acquired 13,511 (285 ) 13,226 Liabilities 92 295 387 Deferred income taxes, net 2,785 (590 ) 2,195 Net assets acquired $ 10,634 10 $ 10,644 Cash paid, net of cash acquired $ 10,634 10 $ 10,644 As summarized in the table, there have been adjustments totaling $1.4 Tangible assets acquired, net of liabilities assumed, were recorded at fair value on the date of close 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 2018 13 11 1.5 not Atlanta Biologicals On January 2, 2018, $51.3 not third 2018. Certain estimated fair values are not fourth 2018 Preliminary Allocation at Acquisition Date Current assets, net of cash $ 18,678 Equipment and other long-term assets 4,348 Intangible assets: Developed technology 9,000 Trade name 1,000 Customer relationships 1,500 Goodwill 21,695 Total assets acquired 56,221 Liabilities 90 Deferred income taxes, net 4,845 Net assets acquired $ 51,286 Cash paid, net of cash acquired $ 51,286 Tangible assets acquired, net of liabilities assumed, were recorded at fair value on the date of close 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 2018 12 10 5 not Eurocell Diagnostics On February 1, 2018 $4.5 $3.1 $1.4 February 1, 2019. not third 2018. Certain estimated fair values are not 2018 Preliminary Allocation at Acquisition Date Current assets, net of cash $ 512 Equipment and other long-term assets 188 Intangible assets: Customer relationships 6,272 Goodwill 113 Total assets acquired 7,085 Liabilities 483 Deferred income taxes, net 2,070 Net assets acquired $ 4,532 Cash paid, net of cash acquired $ 3,136 Consideration payable $ 1,396 Tangible assets acquired, net of liabilities assumed, were recorded at fair value on the date of close based on management's assessment. The purchase price allocated to customer relationships was based on management's forecasted cash inflows and outflows using a multi-period excess earnings method to calculate the fair value of assets purchased. Amortization expense related customer relationships is reflected in selling, general and administrative expenses in the Consolidated Statement of Earnings and Comprehensive Income. The preliminary amortization period for customer relationships acquired in fiscal 2018 7 not

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [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 not 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 as of Fair Value Measurements Using Inputs Considered as March 31 , 2018 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 86,645 $ 86,645 $ - $ - Liabilities Contingent Consideration $ 3,500 $ - $ - $ 3,500 Total carrying value a s of Fair Value Measurements Using Inputs Considered as June 30, 2017 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 59,616 $ 59,616 $ - $ - Corporate bond securities (1) 2,057 - 2,057 - Total Assets $ 61,673 $ 59,616 $ 2,057 $ - Liabilities Contingent Consideration $ 68,400 $ - $ - $ 68,400 ( 1 Included in available-for-sale investments 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 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 (ACD) acquisition (fiscal 2017 2016 $75.0 $7.0 $35.0 $78.5 $37.0 $6.5 $35.0 3 As of June 30, 2017 $50.0 $3.5 $35.0 first 2018, $35.0 third 2018, $50.0 second 2018. $85.0 $58.8 $26.2 The following table presents a reconciliation of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3 nine March 31, 2018 ( Quarter Ended Nine Months Ended March 31, 2018 March 31, 2018 Fair value at the beginning of period $ 53,300 $ 68,400 Payments (50,000 ) (85,000 ) Change in fair value of contingent consideration 200 20,100 Fair value at the end of period $ 3,500 $ 3,500 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	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 5. In fiscal 2017, July 28, 2016. $400 $200 may 0.5%, 1.00% 1.75% 25 The Credit Agreement matures on July 28, 2021 March 31, 2018, $392.5

Note 6 - Accumulated Other Comp

Note 6 - Accumulated Other Comprehensive Income	9 Months Ended
	Mar. 31, 2018
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 nine March 31, 2018 Unrealized Gains (Losses) on Available- for-Sale Investments Foreign Currency Translation Adjustments Total Beginning balance $ 18,989 $ (67,924 ) $ (48,935 ) Other comprehensive income (loss) 22,286 10,787 33,073 Ending balance $ 41,275 $ (57,137 ) $ (15,862 )

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 7. 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, 2018 2017 2018 2017 Earnings per share – basic: Net income $ 19,738 $ 22,167 $ 84,449 $ 48,476 Income allocated to participating securities (18 ) (20 ) (70 ) (42 ) Income available to common shareholders $ 19,720 $ 22,147 $ 84,379 $ 48,434 Weighted-average shares outstanding – basic 37,503 37,320 37,450 37,303 Earnings per share – basic $ 0.53 $ 0.59 $ 2.25 $ 1.30 Earnings per share – diluted: Net income $ 19,738 $ 22,167 $ 84,449 $ 48,476 Income allocated to participating securities (18 ) (20 ) (70 ) (42 ) Income available to common shareholders $ 19,720 $ 22,147 $ 84,379 $ 48,434 Weighted-average shares outstanding – basic 37,503 37,320 37,450 37,303 Dilutive effect of stock options and restricted stock units 639 174 483 183 Weighted-average common shares outstanding – diluted 38,142 37,494 37,933 37,486 Earnings per share – diluted $ 0.52 $ 0.59 $ 2.22 $ 1.29 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 1.1 2.0 March 31, 2018 2017, 1.6 1.9 nine March 31, 2018 2017,

Note 8 - Share-based Compensati

Note 8 - Share-based Compensation	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 8. During the nine March 31, 2018 2017, 1.1 $120.34 $107.38 $21.98 $18.13, nine March 31, 2018 2017, 65,924 64,931 $128.30 $109.36, nine March 31, 2018 2017, 20,106 23,965 $125.05 $104.94, Stock options for 139,602 39,579 $6.3 $1.4 nine March 31, 2018 2017, Stock-based compensation expense of $4.7 $4.0 March 31, 2018 2017, $13.6 $11.2 nine March 31, 2018 2017, March 31, 2018, $39.0 2.4

Note 9 - Other Income (Expense)

Note 9 - Other Income (Expense)	9 Months Ended
	Mar. 31, 2018
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 Nine Months March 31, March 31, 2018 2017 2018 2017 Interest expense $ (2,560 ) $ (2,108 ) $ (7,135 ) $ (5,430 ) Interest income 162 73 307 211 Impairment of investment (16,246 ) - (16,246 ) - Other non-operating income (expense), net 542 (326 ) (507 ) (1,206 ) Total other income (expense) $ (18,102 ) $ (2,361 ) $ (23,581 ) $ (6,425 ) During the third 2018, $16.2

Note 10 - Income Taxes

Note 10 - Income Taxes	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 10. The Company’s effective income tax rate was 21.0% 28.8% third 2018 2017, 21.2 34.6% first nine 2018 2017, third first nine 2018 third first nine 2017 2018 $0.7 $1.4 third first nine 2018 $3.2 first nine 2018 not third first nine 2017 $0.7 $5.3 On December 22, 2017, June 30, 2018 not 1 2 one may eight 3 first 35% 21% January 1, 2018. 15 June 30, 2018 28.1% 21% 2019 The Tax Act also puts in place new tax laws that will impact our taxable income beginning in fiscal 2019, not 1 2 3 50 4 5 6 7 Shortly after the Tax Act was enacted, the SEC staff issued Staff Accounting Bulletin No. 118, 118 118 no one may 740. 118, 740 To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete, the Company can determine a reasonable estimate for those effects and record a provisional estimate in the financial statements in the first 740 first The Company recorded a provisional net tax benefit of $33.5 December 31, 2017. $37.0 $3.5 no third Reduction in U.S. Corporate Rate: The Act reduces the U.S. federal statutory corporate tax rate to a blended 28.1% June 30, 2018 21.0% June 30, 2019 December 22, 2017, June 30, 2018. Transition Tax: The transition tax is a tax on the previously untaxed accumulated and current earnings and profits (E&P) of certain of our foreign subsidiaries as of December 22, 2017. 1986 $3.5 eight 2019. $0.3 $3.2 March 31, 2018 10 2018. As of June 30, 2017, no March 31, 2018 2018 not not We are also continue to analyze other provisions of the Tax Act that come into effect for tax years starting July 1, 2018

Note 11 - Segment Information

Note 11 - Segment Information	9 Months Ended
	Mar. 31, 2018
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. The following is financial information relating to the Company's reportable segments (in thousands): Quarter Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 Net sales: Biotechnology $ 110,029 $ 94,516 $ 306,516 $ 267,256 Protein Platforms 25,539 23,586 79,566 64,707 Diagnostics 28,548 25,978 76,963 74,542 Intersegment (143 ) (43 ) (306 ) (80 ) Consolidated net sales $ 163,973 $ 144,037 $ 462,739 $ 406,425 Operating income: Biotechnology $ 53,013 $ 45,242 $ 143,826 $ 127,195 Protein Platforms 2,461 3,256 11,636 5,308 Diagnostics 7,988 6,004 17,594 18,108 Segment operating income $ 63,462 $ 54,502 $ 173,056 $ 150,611 Costs recognized on sale of acquired inventory (1,431 ) (637 ) (2,013 ) (2,770 ) Amortization of acquisition related intangible assets (11,872 ) (11,689 ) (34,547 ) (33,504 ) Acquisition related expenses (1,312 ) (3,993 ) (23,994 ) (19,581 ) Stock based compensation (4,748 ) (3,974 ) (13,587 ) (11,219 ) Corporate general, selling, and administrative expenses (1,015 ) (707 ) (5,652 ) (2,999 ) Consolidated operating income $ 43,084 $ 33,502 $ 93,263 $ 80,538

Note 12 - Subsequent Events

Note 12 - Subsequent Events	9 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12. In April 2018 $22.5 third

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting July 1, 2017. In July 2015, 2015 11, Simplifying the Measurement of Inventory first first July 1, 2017. not Pronouncements Issued But Not In May 2014, No. 2014 09, Revenue from Contracts with Customers July 1, 2018. March 2016, No. 2016 08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) April 2016, No. 2016 10, Identifying Performance Obligations and Licensing, May 2016, No. 2016 12, Narrow-Scope Improvements and Practical Expedients No. 2014 09 No. 2014 09. The Company’s approach to implementing the new standard includes performing a detailed review of key contracts representative of its different businesses and comparing historical accounting policies and practices to the new standard. The guidance permits two The Company is continuing to assess the impact on our consolidated financial statements by finalizing our location surveys, reviewing unique customer contract terms, and developing processes to manage the changes in the revenue recognition guidance and gather information for the required disclosures. The company expects this process will be complete during the fourth 2018. not In January 2016, No. 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities no December 15, 2017, July 1, 2018. In February 2016, 2016 02, Leases (Topic 842 December 15, 2018, July 1, 2019. 2016 02 In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 December 15, 2019, July 1, 2020. may December 15, 2018. 2016 13 In January 2017, No. 2017 01, Clarifying the Definition of a Business December 15, 2017, July 1, 2018. In May 2017, No. 2017 09, Scope of Modification Accounting may December 15, 2017, July 1, 2018. not In February 2018, No. 2018 02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2017. December 15, 2018, July 1, 2019. not

Note 1 - Basis of Presentatio20

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Quarter Ended March 3 1 , 201 7 As Previously Reported Adjustment As Revised Cost of sales $ 49,854 $ (2,499 ) $ 47,355 Selling, general and administrative 48,107 1,302 49,409 Other (expense) income (2,275 ) (86 ) (2,361 ) Earnings before income taxes 30,030 1,111 31,141 Income taxes 8,641 333 8,974 Net earnings 21,389 778 22,167 Comprehensive income 23,314 778 24,092 Nine Months Ended March 3 1 , 201 7 As Previously Reported Adjustment As Revised Cost of sales $ 142,691 $ (8,435 ) $ 134,256 Selling, general and administrative 150,025 1,789 151,814 Other (expense) income (6,196 ) (229 ) (6,425 ) Earnings before income taxes 67,696 6,417 74,113 Income taxes 23,712 1,925 25,637 Net earnings 43,984 4,492 48,476 Comprehensive income 49,095 4,492 53,587 Nine Months Ended March 31 , 201 7 As Previously Reported Adjustment As Revised Costs recognized on the sale of acquired inventory $ 11,205 $ (8,435 ) $ 2,770 Other operating (1) 331 (1,494 ) (911 ) Changes in salaries, wages and related accruals (1,207 ) 3,512 2,305 Changes in income tax payable 275 1,925 2,200

Note 2 - Selected Balance She21

Note 2 - Selected Balance Sheet Data (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, June 30, 2018 2017 Raw materials $ 29,414 $ 22,074 Finished goods 59,172 38,077 Inventories, net $ 88,586 $ 60,151
Property, Plant and Equipment [Table Text Block]	March 31, June 30, 2018 2017 Land $ 7,064 $ 6,270 Buildings and improvements 172,305 158,495 Machinery and equipment 106,058 98,596 Property and equipment, cost 285,427 263,361 Accumulated depreciation and amortization (142,648 ) (128,237 ) Property and equipment, net $ 142,779 $ 135,124
Schedule of Intangible Assets and Goodwill [Table Text Block]	March 31, June 30, 2018 2017 Developed technology $ 292,825 $ 276,959 Trade names 88,961 87,092 Customer relationships 214,107 204,243 Non-compete agreements 3,286 3,264 Patents 1,242 633 Intangible assets 600,421 572,191 Accumulated amortization (156,627 ) (120,149 ) Intangible assets, net $ 443,794 $ 452,042
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Beginning balance $ 452,042 Acquisitions 23,292 Other additions 796 Amortization expense (34,611 ) Currency translation 2,275 Ending balance $ 443,794
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2018 $ 11,953 2019 47,125 2020 46,422 2021 46,035 2022 44,213 Thereafter 248,046 Total $ 443,794
Schedule of Goodwill [Table Text Block]	Biotechnology Protein Platforms Diagnostics Total Beginning balance $ 254,930 $ 220,826 $ 103,270 $ 579,026 Acquisitions (Note 3) 27,686 - 113 27,799 Currency translation 3,416 454 (28 ) 3,842 Ending balance $ 286,032 $ 221,280 $ 103,355 $ 610,667
Schedule of Other Assets, Noncurrent [Table Text Block]	March 31, June 30, 2018 2017 Investments $ 24,181 $ 40,385 Other 2,883 3,617 Other assets $ 27,064 $ 44,002

Note 3 - Acquisitions (Tables)

Note 3 - Acquisitions (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Preliminary Allocation at Acquisition Date Adjustments to Fair Value Updated Opening Balance Sheet Allocation at March 31 , 2018 Current assets, net of cash $ 1,662 $ 1,662 Equipment and other long-term assets 154 (101 ) 53 Intangible assets: Developed technology 3,800 1,300 5,100 Trade name 1,400 (1,240 ) 160 Customer relationships 1,900 (1,640 ) 260 Goodwill 4,595 1,396 5,991 Total assets acquired 13,511 (285 ) 13,226 Liabilities 92 295 387 Deferred income taxes, net 2,785 (590 ) 2,195 Net assets acquired $ 10,634 10 $ 10,644 Cash paid, net of cash acquired $ 10,634 10 $ 10,644 Preliminary Allocation at Acquisition Date Current assets, net of cash $ 18,678 Equipment and other long-term assets 4,348 Intangible assets: Developed technology 9,000 Trade name 1,000 Customer relationships 1,500 Goodwill 21,695 Total assets acquired 56,221 Liabilities 90 Deferred income taxes, net 4,845 Net assets acquired $ 51,286 Cash paid, net of cash acquired $ 51,286 Preliminary Allocation at Acquisition Date Current assets, net of cash $ 512 Equipment and other long-term assets 188 Intangible assets: Customer relationships 6,272 Goodwill 113 Total assets acquired 7,085 Liabilities 483 Deferred income taxes, net 2,070 Net assets acquired $ 4,532 Cash paid, net of cash acquired $ 3,136 Consideration payable $ 1,396

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Total carrying value as of Fair Value Measurements Using Inputs Considered as March 31 , 2018 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 86,645 $ 86,645 $ - $ - Liabilities Contingent Consideration $ 3,500 $ - $ - $ 3,500 Total carrying value a s of Fair Value Measurements Using Inputs Considered as June 30, 2017 Level 1 Level 2 Level 3 Assets Equity securities (1) $ 59,616 $ 59,616 $ - $ - Corporate bond securities (1) 2,057 - 2,057 - Total Assets $ 61,673 $ 59,616 $ 2,057 $ - Liabilities Contingent Consideration $ 68,400 $ - $ - $ 68,400
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Quarter Ended Nine Months Ended March 31, 2018 March 31, 2018 Fair value at the beginning of period $ 53,300 $ 68,400 Payments (50,000 ) (85,000 ) Change in fair value of contingent consideration 200 20,100 Fair value at the end of period $ 3,500 $ 3,500

Note 6 - Accumulated Other Co24

Note 6 - Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Mar. 31, 2018
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 $ 18,989 $ (67,924 ) $ (48,935 ) Other comprehensive income (loss) 22,286 10,787 33,073 Ending balance $ 41,275 $ (57,137 ) $ (15,862 )

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Quarter Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 Earnings per share – basic: Net income $ 19,738 $ 22,167 $ 84,449 $ 48,476 Income allocated to participating securities (18 ) (20 ) (70 ) (42 ) Income available to common shareholders $ 19,720 $ 22,147 $ 84,379 $ 48,434 Weighted-average shares outstanding – basic 37,503 37,320 37,450 37,303 Earnings per share – basic $ 0.53 $ 0.59 $ 2.25 $ 1.30 Earnings per share – diluted: Net income $ 19,738 $ 22,167 $ 84,449 $ 48,476 Income allocated to participating securities (18 ) (20 ) (70 ) (42 ) Income available to common shareholders $ 19,720 $ 22,147 $ 84,379 $ 48,434 Weighted-average shares outstanding – basic 37,503 37,320 37,450 37,303 Dilutive effect of stock options and restricted stock units 639 174 483 183 Weighted-average common shares outstanding – diluted 38,142 37,494 37,933 37,486 Earnings per share – diluted $ 0.52 $ 0.59 $ 2.22 $ 1.29

Note 9 - Other Income (Expens26

Note 9 - Other Income (Expense) (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Quarter Ended Nine Months March 31, March 31, 2018 2017 2018 2017 Interest expense $ (2,560 ) $ (2,108 ) $ (7,135 ) $ (5,430 ) Interest income 162 73 307 211 Impairment of investment (16,246 ) - (16,246 ) - Other non-operating income (expense), net 542 (326 ) (507 ) (1,206 ) Total other income (expense) $ (18,102 ) $ (2,361 ) $ (23,581 ) $ (6,425 )

Note 11 - Segment Information (

Note 11 - Segment Information (Tables)	9 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 Net sales: Biotechnology $ 110,029 $ 94,516 $ 306,516 $ 267,256 Protein Platforms 25,539 23,586 79,566 64,707 Diagnostics 28,548 25,978 76,963 74,542 Intersegment (143 ) (43 ) (306 ) (80 ) Consolidated net sales $ 163,973 $ 144,037 $ 462,739 $ 406,425 Operating income: Biotechnology $ 53,013 $ 45,242 $ 143,826 $ 127,195 Protein Platforms 2,461 3,256 11,636 5,308 Diagnostics 7,988 6,004 17,594 18,108 Segment operating income $ 63,462 $ 54,502 $ 173,056 $ 150,611 Costs recognized on sale of acquired inventory (1,431 ) (637 ) (2,013 ) (2,770 ) Amortization of acquisition related intangible assets (11,872 ) (11,689 ) (34,547 ) (33,504 ) Acquisition related expenses (1,312 ) (3,993 ) (23,994 ) (19,581 ) Stock based compensation (4,748 ) (3,974 ) (13,587 ) (11,219 ) Corporate general, selling, and administrative expenses (1,015 ) (707 ) (5,652 ) (2,999 ) Consolidated operating income $ 43,084 $ 33,502 $ 93,263 $ 80,538

Note 1 - Basis of Presentatio28

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Revision of Unaudited Consolidated Financial Statements (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Cost of sales		$ 53,712	$ 47,355	$ 152,777	$ 134,256
Selling, general and administrative		53,285	49,409	175,349	151,814
Other (expense) income		(18,102)	(2,361)	(23,581)	(6,425)
Earnings before income taxes		24,982	31,141	69,682	74,113
Income tax expense (benefit)		5,244	8,974	(14,767)	25,637
Net earnings		19,738	22,167	84,449	48,476
Comprehensive income		$ 60,694	24,092	117,522	53,587
Costs recognized on sale of acquired inventory				2,013	2,770
Other operating activity				1,664	(911)	[1]
Changes in salaries, wages and related accruals				(4,159)	2,305
Changes in income tax payable				$ (1,779)	2,200
Previously Reported [Member]
Cost of sales			49,854		142,691
Selling, general and administrative			48,107		150,025
Other (expense) income			(2,275)		(6,196)
Earnings before income taxes			30,030		67,696
Income tax expense (benefit)			8,641		23,712
Net earnings			21,389		43,984
Comprehensive income			23,314		49,095
Costs recognized on sale of acquired inventory					11,205
Other operating activity	[1]				331
Changes in salaries, wages and related accruals					(1,207)
Changes in income tax payable					275
Restatement Adjustment [Member]
Cost of sales			(2,499)		(8,435)
Selling, general and administrative			1,302		1,789
Other (expense) income			(86)		(229)
Earnings before income taxes			1,111		6,417
Income tax expense (benefit)			333		1,925
Net earnings			778		4,492
Comprehensive income			$ 778		4,492
Costs recognized on sale of acquired inventory					(8,435)
Other operating activity	[1]				(1,494)
Changes in salaries, wages and related accruals					3,512
Changes in income tax payable					$ 1,925
[1]	Does not cross-foot due to the retrospective adoption of the cash flow presentation of employee taxes paid for shares withheld as part of ASU 2016-09

Note 2 - Selected Balance She29

Note 2 - Selected Balance Sheet Data (Details Textual) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2018USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Available-for-sale Securities, Total	$ 89,800	$ 66,100		$ 89,800
Available-for-sale Securities, Gross Realized Gain (Loss), Total				23,700
Payments to Acquire Available-for-sale Securities, Total				3,061	$ 1,625
Number of Reporting Units		3
Goodwill, Impairment Loss				0
Other Assets, Noncurrent, Total	27,064	$ 44,002		27,064
Asset Impairment Charges, Total	16,246			16,226
Cost Method Investments	$ 24,181	40,385		$ 24,181
Astute Medical, Inc. [Member]
Percentage of Ownership Interests	16.40%			16.40%
Asset Impairment Charges, Total	$ 16,200
Cost Method Investments	23,800			$ 23,800
Advanced Cell Diagnostics (ACD) [Member] | Available-for-sale Securities [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities	2,100			2,100
ChemoCentryx, Inc (CCXI) [Member]
Available-for-sale Securities, Total	86,600	59,600		86,600
Available-for-sale Securities, Gross Realized Gain (Loss), Total				27,000
Available-for-sale Equity Securities, Amortized Cost Basis, Total	$ 29,500	$ 29,500		29,500
Certificates Of Deposit [Member] | CHINA
Payments to Acquire Available-for-sale Securities, Total				$ 1,400

Note 2 - Selected Balance She30

Note 2 - Selected Balance Sheet Data - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Raw materials	$ 29,414	$ 22,074
Finished goods	59,172	38,077
Inventories, net	$ 88,586	$ 60,151

Note 2 - Selected Balance She31

Note 2 - Selected Balance Sheet Data - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Property and equipment, cost	$ 285,427	$ 263,361
Accumulated depreciation and amortization	(142,648)	(128,237)
Property and equipment, net	142,779	135,124
Land [Member]
Property and equipment, cost	7,064	6,270
Building and Building Improvements [Member]
Property and equipment, cost	172,305	158,495
Machinery and Equipment [Member]
Property and equipment, cost	$ 106,058	$ 98,596

Note 2 - Selected Balance She32

Note 2 - Selected Balance Sheet Data - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Intangible assets	$ 600,421	$ 572,191
Accumulated amortization	(156,627)	(120,149)
Intangible assets, net	443,794	452,042
Developed Technology Rights [Member]
Intangible assets	292,825	276,959
Trade Names [Member]
Intangible assets	88,961	87,092
Customer Relationships [Member]
Intangible assets	214,107	204,243
Noncompete Agreements [Member]
Intangible assets	3,286	3,264
Patents [Member]
Intangible assets	$ 1,242	$ 633

Note 2 - Selected Balance She33

Note 2 - Selected Balance Sheet Data - Changes to Carrying Amount of Net Intangible Assets (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2018USD ($)
Beginning balance	$ 452,042
Acquisitions	23,292
Other additions	796
Amortization expense	(34,611)
Currency translation	2,275
Ending balance	$ 443,794

Note 2 - Selected Balance She34

Note 2 - Selected Balance Sheet Data - Estimated Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Mar. 31, 2018USD ($)
2,018	$ 11,953
2,019	47,125
2,020	46,422
2,021	46,035
2,022	44,213
Thereafter	248,046
Total	$ 443,794

Note 2 - Selected Balance She35

Note 2 - Selected Balance Sheet Data - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2018USD ($)
Beginning balance	$ 579,026
Acquisitions (Note 3)	27,799
Currency translation	3,842
Ending balance	610,667
Biotechnology [Member]
Beginning balance	254,930
Acquisitions (Note 3)	27,686
Currency translation	3,416
Ending balance	286,032
Protein Platforms [Member]
Beginning balance	220,826
Acquisitions (Note 3)
Currency translation	454
Ending balance	221,280
Diagnostics [Member]
Beginning balance	103,270
Acquisitions (Note 3)	113
Currency translation	(28)
Ending balance	$ 103,355

Note 2 - Selected Balance She36

Note 2 - Selected Balance Sheet Data - Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Cost Method Investments	$ 24,181	$ 40,385
Other	2,883	3,617
Other assets	$ 27,064	$ 44,002

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($) $ in Thousands	Feb. 01, 2018	Jan. 02, 2018	Sep. 05, 2017	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Payments to Acquire Businesses, Net of Cash Acquired, Total					$ 65,066	$ 253,941
Trevigen Inc. [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total			$ 10,634	$ 10,644
Business Acquisition, Goodwill, Expected Tax Deductible Amount			$ 0
Goodwill, Purchase Accounting Adjustments				$ 1,396
Trevigen Inc. [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life			13 years
Trevigen Inc. [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			11 years
Trevigen Inc. [Member] | Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life			1 year 182 days
Atlanta Biologicals [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total		$ 51,286
Business Acquisition, Goodwill, Expected Tax Deductible Amount		0
Business Combination, Consideration Transferred, Total		$ 51,300
Atlanta Biologicals [Member] | Developed Technology Rights [Member]
Finite-Lived Intangible Asset, Useful Life		12 years
Atlanta Biologicals [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life		10 years
Atlanta Biologicals [Member] | Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life		5 years
Eurocell Diagnostics, SAS [Member]
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 3,136
Business Acquisition, Goodwill, Expected Tax Deductible Amount	0
Business Combination, Consideration Transferred, Total	4,500
Payments to Acquire Businesses, Gross	3,100
Business Combination, Consideration Transferred, Liabilities Incurred	$ 1,396
Eurocell Diagnostics, SAS [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	7 years

Note 3 - Acquisitions - Fair Va

Note 3 - Acquisitions - Fair Value of Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands	Feb. 01, 2018	Jan. 02, 2018	Sep. 05, 2017	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Goodwill				$ 610,667	$ 610,667		$ 579,026
Cash paid, net of cash acquired					65,066	$ 253,941
Goodwill				610,667	610,667		$ 579,026
Trevigen Inc. [Member]
Current assets, net of cash			$ 1,662	1,662	1,662
Adjustments to fair value, current assets, net of cash
Equipment and other long-term assets			154	53	53
Adjustments to fair value, equipment and other long-term assets				(101)
Goodwill			4,595	5,991	5,991
Adjustments to fair value, goodwill				1,396
Total assets acquired			13,511	13,226	13,226
Adjustments to fair value, total assets acquired				(285)
Liabilities			92	387	387
Adjustments to fair value, liabilities				295
Deferred income taxes, net			2,785	2,195	2,195
Adjustments to fair value, deferred income taxes, net				(590)
Net assets acquired			10,634	10,644	10,644
Adjustments to fair value, net assets acquired				10
Cash paid, net of cash acquired			10,634	10,644
Adjustments to fair value, cash paid, net of cash acquired				10
Equipment and other long-term assets			154	53	53
Goodwill			4,595	5,991	5,991
Total assets acquired			13,511	13,226	13,226
Liabilities			92	387	387
Deferred income taxes, net			2,785	2,195	2,195
Trevigen Inc. [Member] | Developed Technology Rights [Member]
Intangible assets			3,800	5,100	5,100
Adjustments to fair value, intangible assets				1,300
Trevigen Inc. [Member] | Customer Relationships [Member]
Intangible assets			1,900	260	260
Adjustments to fair value, intangible assets				(1,640)
Trevigen Inc. [Member] | Trade Names [Member]
Intangible assets			$ 1,400	160	$ 160
Adjustments to fair value, intangible assets				$ (1,240)
Atlanta Biologicals [Member]
Current assets, net of cash		$ 18,678
Equipment and other long-term assets		4,348
Goodwill		21,695
Total assets acquired		56,221
Liabilities		90
Deferred income taxes, net		4,845
Net assets acquired		51,286
Cash paid, net of cash acquired		51,286
Equipment and other long-term assets		4,348
Goodwill		21,695
Total assets acquired		56,221
Liabilities		90
Deferred income taxes, net		4,845
Atlanta Biologicals [Member] | Developed Technology Rights [Member]
Intangible assets		9,000
Atlanta Biologicals [Member] | Customer Relationships [Member]
Intangible assets		1,500
Atlanta Biologicals [Member] | Trade Names [Member]
Intangible assets		$ 1,000
Eurocell Diagnostics, SAS [Member]
Current assets, net of cash	$ 512
Equipment and other long-term assets	188
Goodwill	113
Total assets acquired	7,085
Liabilities	483
Deferred income taxes, net	2,070
Net assets acquired	4,532
Cash paid, net of cash acquired	3,136
Equipment and other long-term assets	188
Goodwill	113
Total assets acquired	7,085
Liabilities	483
Deferred income taxes, net	2,070
Consideration payable	1,396
Eurocell Diagnostics, SAS [Member] | Customer Relationships [Member]
Intangible assets	$ 6,272

Note 4 - Fair Value Measureme39

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		15 Months Ended
	Mar. 31, 2018	Sep. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Jun. 30, 2017	Aug. 01, 2016	Mar. 14, 2016	Nov. 03, 2014
Payment for Contingent Consideration Liability			$ 85,000
Payment for Contingent Consideration Liability, Financing Activities			58,800	$ 14,203	$ 58,800
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			(26,200)	$ (9,117)	(26,200)
Advanced Cell Diagnostics (ACD) [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 75,000		75,000		75,000	$ 50,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized							$ 37,000
Payment for Contingent Consideration Liability	50,000
Zephyrus [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	7,000		7,000		7,000	3,500
Business Combination, Liabilities Arising from Contingencies, Amount Recognized								$ 6,500
CyVek, Inc. [Member]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	35,000		35,000		35,000	$ 35,000
Business Combination, Liabilities Arising from Contingencies, Amount Recognized									$ 35,000
Payment for Contingent Consideration Liability		$ 35,000
Advance Cell Diagnostics (ACD), Zephyrus, and CyVek Inc.[Member]
Business Combination, Liabilities Arising from Contingencies, Amount Recognized	$ 78,500		$ 78,500		$ 78,500

Note 4 - Fair Value Measureme40

Note 4 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Jun. 30, 2017
Contingent Consideration		$ 3,500	$ 68,400
Total Assets			61,673
Fair Value, Inputs, Level 1 [Member]
Contingent Consideration
Total Assets			59,616
Fair Value, Inputs, Level 2 [Member]
Contingent Consideration
Total Assets			2,057
Fair Value, Inputs, Level 3 [Member]
Contingent Consideration		3,500	68,400
Total Assets
Equity Securities [Member]
Corporate securities	[1]	86,645	59,616
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Corporate securities	[1]	86,645	59,616
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate securities	[1]
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Corporate securities	[1]
Corporate Debt Securities [Member]
Corporate securities	[1]		2,057
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Corporate securities	[1]
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate securities	[1]		2,057
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Corporate securities	[1]
[1]	Included in available-for-sale investments 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] - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Fair value at the beginning of period	$ 53.3	$ 68.4
Payments	(50)	(85)
Change in fair value of contingent consideration	0.2	20.1
Fair value at the end of period	$ 3.5	$ 3.5

Note 5 - Debt and Other Finan42

Note 5 - Debt and Other Financing Arrangements (Details Textual) - Revolving Credit Facility [Member] - USD ($) $ in Millions	Jul. 28, 2016	Mar. 31, 2018
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	0.25%
Line of Credit Facility, Expiration Date	Jul. 28, 2021
Long-term Line of Credit, Total		$ 392.5
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		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Beginning balance			$ 949,627
Other comprehensive income (loss)	$ 40,956	$ 1,925	33,073	$ 5,111
Ending balance	1,058,292		1,058,292
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Beginning balance			18,989
Other comprehensive income (loss)			22,286
Ending balance	41,275		41,275
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Beginning balance			(67,924)
Other comprehensive income (loss)			10,787
Ending balance	(57,137)		(57,137)
AOCI Attributable to Parent [Member]
Beginning balance			(48,935)
Other comprehensive income (loss)			33,073
Ending balance	$ (15,862)		$ (15,862)

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.1	2	1.6	1.9

Note 7 - Earnings Per Share - S

Note 7 - Earnings Per Share - Shares Used in the Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Net earnings	$ 19,738	$ 22,167	$ 84,449	$ 48,476
Income allocated to participating securities	(18)	(20)	(70)	(42)
Income available to common shareholders	$ 19,720	$ 22,147	$ 84,379	$ 48,434
Basic (in shares)	37,503	37,320	37,450	37,303
Basic (in dollars per share)	$ 0.53	$ 0.59	$ 2.25	$ 1.30
Net income	$ 19,738	$ 22,167	$ 84,449	$ 48,476
Income available to common shareholders	$ 19,720	$ 22,147	$ 84,379	$ 48,434
Weighted-average shares outstanding – basic (in shares)	37,503	37,320	37,450	37,303
Dilutive effect of stock options and restricted stock units (in shares)	639	174	483	183
Weighted-average common shares outstanding – diluted (in shares)	38,142	37,494	37,933	37,486
Diluted (in dollars per share)	$ 0.52	$ 0.59	$ 2.22	$ 1.29

Note 8 - Share-based Compensa46

Note 8 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1,100,000	1,100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 120.34	$ 107.38
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 21.98	$ 18.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			139,602	39,579
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 6.3	$ 1.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 39		$ 39
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 146 days
Selling, General and Administrative Expenses [Member]
Allocated Share-based Compensation Expense, Total	$ 4.7	$ 4	$ 13.6	$ 11.2
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			65,924	64,931
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 128.30	$ 109.36
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			20,106	23,965
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 125.05	$ 104.94

Note 9 - Other Income (Expens47

Note 9 - Other Income (Expense) (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Asset Impairment Charges, Total	$ 16,246		$ 16,226
Astute Medical, Inc. [Member]
Asset Impairment Charges, Total			$ 16,200

Note 9 - Other Income (Expens48

Note 9 - Other Income (Expense) - Schedule of Components of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Interest expense	$ (2,560)	$ (2,108)	$ (7,135)	$ (5,430)
Interest income	162	73	307	211
Impairment of investment	(16,246)		(16,226)
Other non-operating income (expense), net	542	(326)	(507)	(1,206)
Total other income (expense)	$ (18,102)	$ (2,361)	$ (23,581)	$ (6,425)

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Jun. 30, 2018	Jun. 30, 2017
Effective Income Tax Rate Reconciliation, Percent, Total	21.00%	28.80%		(21.20%)	34.60%
Income Tax Expense (Benefit), Discrete Tax Items	$ (700)			$ (1,400)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Revaluation of Contingent Consideration		$ 700		3,200	$ 5,300
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			35.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustments, New Legislation			$ (33,500)
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability			(37,000)
Income Tax Expense (Benefit), Continuing Operations, Adjustments on Transition Tax			$ 3,500
Accrued Income Taxes, Current	6,412			6,412				$ 2,478
Transition Tax [Member]
Accrued Income Taxes, Current	300			300
Accrued Income Taxes, Noncurrent	$ 3,200			$ 3,200
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent						21.00%	28.10%

Note 11 - Segment Information -

Note 11 - Segment Information - Financial Information Relating to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 163,973	$ 144,037	$ 462,739	$ 406,425
Operating income	43,084	33,502	93,263	80,538
Costs recognized on sale of acquired inventory			(2,013)	(2,770)
Amortization of acquisition related intangible assets			(34,611)
Corporate general, selling, and administrative expenses	(53,285)	(49,409)	(175,349)	(151,814)
Acquisition Related [Member]
Corporate general, selling, and administrative expenses	(1,015)	(707)	(5,652)	(2,999)
Operating Segments [Member]
Operating income	63,462	54,502	173,056	150,611
Intersegment Eliminations [Member]
Net sales	(143)	(43)	(306)	(80)
Segment Reconciling Items [Member]
Costs recognized on sale of acquired inventory	(1,431)	(637)	(2,013)	(2,770)
Amortization of acquisition related intangible assets	(11,872)	(11,689)	(34,547)	(33,504)
Acquisition related expenses	(1,312)	(3,993)	(23,994)	(19,581)
Stock based compensation	(4,748)	(3,974)	(13,587)	(11,219)
Biotechnology [Member] | Operating Segments [Member]
Net sales	110,029	94,516	306,516	267,256
Operating income	53,013	45,242	143,826	127,195
Protein Platforms [Member] | Operating Segments [Member]
Net sales	25,539	23,586	79,566	64,707
Operating income	2,461	3,256	11,636	5,308
Diagnostics [Member] | Operating Segments [Member]
Net sales	28,548	25,978	76,963	74,542
Operating income	$ 7,988	$ 6,004	$ 17,594	$ 18,108

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) $ in Millions	1 Months Ended
	Apr. 30, 2018USD ($)
Astute Medical, Inc. [Member] | Subsequent Event [Member]
Cost-method Investments, Realized Gain (Loss), Total	$ 22.5