SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 40,919 100% 2,926
Cost of sales 8,887 22% 224
------- -------- ------
Gross margin 32,032 78% 2,702
Gross margin percentage 78.3%
SG&A expense 5,634 14% 551
R&D expense 4,688 11% (275)
Amortization expense 305 1% (95)
Interest expense 245 1% 70
Interest income (1,053) (3%) (327)
Other non-operating exp., net 466 1% 388
------- -------- ------
10,285 25% 312
------- -------- ------
Earnings before income taxes 21,747 53% 2,390
Income taxes 7,555 18% 770
------- -------- ------
14,192 35% 1,620
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Diluted earnings per share 0.34
Weighted average diluted
shares outstanding 41,676
HEMATOLOGY DIVISION
(in thousands of $'s)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 4,013 100% (268)
Cost of sales 2,220 55% (126)
------- -------- -------
Gross margin 1,793 45% (142)
Gross margin percentage 44.7%
SG&A expense 409 10% 18
R&D expense 188 5% (3)
Interest, net (56) (1%) 21
------- -------- -------
541 14% 36
------- -------- -------
Pretax result 1,252 31% (178)
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BIOTECHNOLOGY DIVISION
(in thousands of $'s)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 30,691 100% 2,038
Intersegment sales (4,804) (183)
------- -------
25,887 1,855
Cost of sales 6,111 20% 195
Intersegment sales (4,756) (235)
------- -------
1,355 (40)
------- -------- -------
Gross margin 24,532 80% 1,895
Gross margin percentage 80.1%
SG&A expense 2,973 10% 322
R&D expense 4,500 15% 336
Amortization expense 305 -- (95)
Interest, net (414) (1%) (8)
------- -------- -------
7,364 24% 555
------- -------- -------
Pretax result 17,168 56% 1,340
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R&D SYSTEMS EUROPE
(in thousands of Br. pounds)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 6,080 100% 100
Cost of sales 2,931 48% (109)
------- -------- -------
Gross margin 3,149 52% 209
Gross margin percentage 51.8%
SG&A expense 950 16% (100)
Interest income (254) (4%) (127)
Exchange loss/(gain) 26 -- 75
------- -------- -------
722 12% (152)
------- -------- -------
Pretax result 2,427 40% 361
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R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 11,019 100% 1,339
Cost of sales 5,312 48% 390
------- -------- -------
Gross margin 5,707 52% 949
Gross margin percentage 51.8%
SG&A expense 1,722 16% 23
Interest income (460) (4%) (254)
Exchange loss 47 -- 131
------- -------- -------
1,309 12% (100)
------- -------- -------
Pretax result 4,398 40% 1,049
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CORPORATE AND OTHER (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2005 From Fiscal 2004
----------------- -------------------
First First
Quarter Quarter
------- -------
Interest income 42 5
Rental income 19 --
------- -------
61 5
SG&A expense 530 188
R&D-CCX losses -- (436)
R&D-DGI losses -- (172)
Other-Hemerus losses 74 74
Interest expense 164 (11)
Building expense 364 183
------- -------
1,132 (174)
------- -------
Pretax result (1,097) 179
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(1) Unallocated corporate expenses and Techne's share of losses by
ChemoCentryx, Inc. (CCX), Discovery Genomics, Inc. (DGI) and Hemerus Medical,
LLC.