SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
--------------------- ------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 47,709 100% 6,790
Cost of sales 11,096 23% 2,209
------- ---- -------
Gross margin 36,613 77% 4,581
Gross margin percentage 76.7%
SG&A expense 6,454 14% 820
R&D expense 4,717 10% 29
Amortization expense 492 1% 187
Interest expense 223 -- (22)
Interest income (974) (2%) 79
Other non-operating ex., net 211 -- (255)
------- -------- -------
11,123 23% 838
------- -------- -------
Earnings before income taxes 25,490 54% 3,743
Income taxes 8,489 18% 934
------- -------- -------
17,001 36% 2,809
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Diluted earnings per share 0.43
Weighted average diluted
shares outstanding 39,669
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
--------------------- ------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 37,599 100% 6,908
Intersegment sales (5,299) (495)
------- -------
32,300 6,413
Cost of sales 8,470 23% 2,359
Intersegment sales (5,323) (567)
------- -------- -------
3,147 1,792
Gross margin 29,153 77% 4,621
Gross margin percentage 77.5%
SG&A expense 3,639 10% 666
R&D expense 4,532 12% 32
Amortization expense 492 1% 187
Interest, net (268) (1%) 146
------- -------- -------
8,395 22% 1,031
------- -------- -------
Pretax result 20,758 55% 3,590
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(1) Fiscal 2006 includes R&D Systems' Biotechnology Division, Fortron Bio
Science, Inc., and BiosPacific, Inc.
R&D SYSTEMS EUROPE
(in thousands of British pounds)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
--------------------- ------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 6,690 100% 610
Cost of sales 3,292 50% 361
------- -------- -------
Gross margin 3,398 50% 249
Gross margin percentage 50.8%
SG&A expense 1,004 15% 54
Interest income (326) (5%) (72)
Exchange loss/(gain) 15 -- (11)
------- -------- -------
693 10% (29)
------- -------- -------
Pretax result 2,705 40% 278
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R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
--------------------- ------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 11,875 100% 856
Cost of sales 5,844 50% 532
------- -------- -------
Gross margin 6,031 50% 324
Gross margin percentage 50.8%
SG&A expense 1,782 15% 60
Interest income (579) (5%) (119)
Exchange loss 28 -- (19)
------- -------- -------
1,231 10% (78)
------- -------- -------
Pretax result 4,800 40% 402
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HEMATOLOGY
(in thousands of $'s)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
--------------------- ------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 3,534 100% (479)
Cost of sales 2,105 60% (115)
------- -------- -------
Gross margin 1,429 40% (364)
Gross margin percentage 40.4%
SG&A expense 384 11% (25)
R&D expense 185 5% (3)
Interest, net (37) (1%) 19
------- -------- -------
532 15% (9)
------- -------- -------
Pretax result 897 25% (355)
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase(Decrease)
Fiscal 2006 From Fiscal 2005
----------- ------------------
First First
Quarter Quarter
------- -------
Interest income 90 48
Rental income 342 323
------- -------
432 371
SG&A expense 649 119
Interest expense 223 59
Other-Hemerus losses 82 79
Other-Building expenses 443 8
------- -------
1,397 265
------- -------
Pretax result (965) 106
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(2) Unallocated corporate expenses and Techne's share of losses by Hemerus
Medical, LLC.