SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 52,351 100% 4,642
Cost of sales 11,237 21% 141
------- -------- -------
Gross margin 41,114 79% 4,501
Gross margin percentage 78.5%
SG&A expense 7,067 13% 613
R&D expense 4,855 9% 138
Amortization expense 403 1% (89)
Interest expense 268 1% 45
Interest income (1,676) (3%) (702)
Other non-operating ex., net 485 1% 274
------- -------- -------
11,402 22% 279
------- -------- -------
Earnings before income taxes 29,712 57% 4,222
Income taxes 10,081 20% 1,592
------- -------- -------
19,631 37% 2,630
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Diluted earnings per share .50
Weighted average diluted
shares outstanding 39,469
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 41,621 100% 4,022
Intersegment sales (5,699) (400)
------- -------- -------
35,922 3,622
Cost of sales 8,482 20% 12
Intersegment sales (5,524) (201)
------- -------- -------
2,958 (189)
Gross margin 32,964 80% 3,811
Gross margin percentage 79.6%
SG&A expense 4,013 10% 374
R&D expense 4,675 11% 143
Amortization expense 403 1% (89)
Interest, net (595) (1%) (327)
------- -------- -------
8,496 21% 101
------- -------- -------
Pretax result 24,468 59% 3,710
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(1) Includes R&D Systems' Biotechnology Division, Fortron Bio Science, Inc.,
and BiosPacific, Inc.
R&D SYSTEMS EUROPE
(in thousands of British pound sterling)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 6,870 100% 180
Cost of sales 3,285 48% (7)
------- -------- -------
Gross margin 3,585 52% 187
Gross margin percentage 52.2%
SG&A expense 1,074 16% 70
Interest income (410) (6%) (84)
Exchange loss/(gain) 78 1% 63
------- -------- -------
742 11% 49
------- -------- -------
Pretax result 2,843 41% 138
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R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 12,927 100% 1,052
Cost of sales 6,181 48% 337
------- -------- -------
Gross margin 6,746 52% 715
Gross margin percentage 52.2%
SG&A expense 2,020 16% 238
Interest income (771) (6%) (192)
Exchange loss 147 1% 119
------- -------- -------
1,396 11% 165
------- -------- -------
Pretax result 5,350 41% 550
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HEMATOLOGY
(in thousands of $'s)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------
Sales 3,502 100% (32)
Cost of sales 2,098 60% (7)
------- -------- -------
Gross margin 1,404 40% (25)
Gross margin percentage 40.1%
SG&A expense 398 11% 14
R&D expense 180 5% (5)
Interest, net (81) (2%) (44)
------- -------- -------
497 14% (35)
------- -------- -------
Pretax result 907 26% 10
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2007 From Fiscal 2006
--------------------- ---------------------
First First
Quarter Quarter
------- -------
Interest income 229 139
Rental income 299 (43)
------- -------
528 96
SG&A expense 636 (13)
Interest expense 268 45
Other-Building expenses 510 67
Other-Hemerus losses 127 45
------- -------
1,541 144
------- -------
Pretax result (1,013) (48)
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(2) Unallocated corporate expenses and Techne's share of losses by Hemerus
Medical, LLC.