SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
------------------ -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------------------
Sales 57,987 100% 5,636
Cost of sales 12,104 21% 867
------- ------- ------
Gross margin 45,883 79% 4,769
Gross margin percentage 79.1%
SG&A expense 8,090 14% 1,023
R&D expense 5,181 9% 326
Amortization expense 288 - (115)
Interest expense 0 - (268)
Interest income (2,998) (5%) (1,322)
Other non-operating expense,net 569 1% 84
------- ------- ------
11,130 19% (272)
------- ------- ------
Earnings before income taxes 34,753 60% 5,041
Income taxes 11,681 20% 1,600
------- ------- ------
23,072 40% 3,441
======= ======= ======
Diluted earnings per share .58
Weighted average diluted
shares outstanding 39,587
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
------------------ -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------------------
Sales 45,328 100% 3,707
Intersegment sales (6,447) (748)
------- ------
38,881 2,959
Cost of sales 8,997 20% 515
Intersegment sales (6,174) (650)
------- ------
2,823 (135)
------- ------- ------
Gross margin 36,058 80% 3,094
Gross margin percentage 80.2%
SG&A expense 4,624 10% 611
R&D expense 5,002 11% 327
Amortization expense 288 1% (115)
Interest, net (1,257) (2%) (662)
Exchange loss/(gain) 34 -- 34
------- ------- ------
8,691 20% 195
------- ------- ------
Pretax result 27,367 60% 2,899
======= ======= ======
(1) Includes R&D Systems' Biotechnology Division, BiosPacific, Inc.
and R&D China
R&D SYSTEMS EUROPE
(in thousands of British pounds)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
------------------ -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------------------
Sales 7,605 100% 735
Cost of sales 3,455 45% 170
------- ------- ------
Gross margin 4,150 55% 565
Gross margin percentage 54.6%
SG&A expense 1,114 15% 40
Interest income (683) (9%) (273)
Exchange loss/(gain) (96) (1%) (174)
------- ------- ------
335 5% (407)
------- ------- ------
Pretax result 3,815 50% 972
======= ======= ======
R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
------------------ -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------------------
Sales 15,449 100% 2,522
Cost of sales 7,020 45% 839
------- ------- ------
Gross margin 8,429 55% 1,683
Gross margin percentage 54.6%
SG&A expense 2,262 15% 242
Interest income (1,387) (9%) (616)
Exchange loss/(gain) (198) (1%) (345)
------- ------- ------
677 5% (719)
------- ------- ------
Pretax result 7,752 50% 2,402
======= ======= ======
HEMATOLOGY
(in thousands of $'s)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
------------------ -------------------
First Percent First
Quarter Of Sales Quarter
------- -------- -------------------
Sales 3,657 100% 155
Cost of sales 2,261 62% 163
------- ------- ------
Gross margin 1,396 38% (8)
Gross margin percentage 38.2%
SG&A expense 467 13% 69
R&D expense 179 5% (1)
Interest, net (120) (4%) (39)
------- ------- ------
526 14% 29
------- ------- ------
Pretax result 870 24% (37)
======= ======= ======
CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase (Decrease)
Fiscal 2008 From Fiscal 2007
----------- -------------------
First First
Quarter Quarter
------- -------
Interest income 234 5
Rental income 67 (232)
------- -------
301 (227)
SG&A expense 737 101
Interest expense -- (268)
Other-Building expenses 544 34
Other-Hemerus losses 131 4
Other-Nephromics losses 125 125
------- -------
1,537 (4)
------- -------
Pretax result (1,236) (223)
======= =======
(2) Unallocated corporate expenses and Techne's share of losses by
Hemerus Medical, LLC and Nephromics, LLC.