SEGMENT INFORMATION
TECHNE CORPORATION AND SUBISIDARIES
(in thousands of $'s, except per share data)
Increase
(Decrease)
Fiscal 2009 From Fiscal 2008
----------------- ----------------
First Percent First
Quarter of Sales Quarter
------- -------- -------
Sales 69,324 100% 11,337
Cost of sales 13,086 19% 982
------- -------- -------
Gross margin 56,238 81% 10,355
Gross margin percentage 81.1%
SG&A expense 8,840 13% 750
R&D expense 5,910 8% 729
Amortization expense 240 -- (48)
Interest income (2,887) (4%) 111
Other non-operating ex., net 1,187 2% 618
------- -------- -------
13,290 19% 2,160
------- -------- -------
Earnings before income taxes 42,948 62% 8,195
Income taxes 14,355 21% 2,674
------- -------- -------
28,593 41% 5,521
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Diluted earnings per share 0.74
Weighted average diluted
shares outstanding 38,747
BIOTECHNOLOGY (1)
(in thousands of $'s)
Increase
(Decrease)
Fiscal 2009 From Fiscal 2008
----------------- ----------------
First Percent First
Quarter of Sales Quarter
------- -------- -------
Sales 53,899 100% 8,571
Intersegment sales (7,762) (1,315)
------- -------
46,137 7,256
Cost of sales 10,247 19% 1,250
Intersegment sales (7,461) (1,287)
------- -------
2,786 (37)
------- -------- -------
Gross margin 43,351 81% 7,293
Gross margin percentage 81.0%
SG&A expense 5,141 10% 517
R&D expense 5,717 11% 715
Amortization expense 240 -- (48)
Interest, net (1,084) (2%) 173
Exchange loss/(gain) (2) -- (36)
------- -------- -------
10,012 19% 1,321
------- -------- -------
Pretax result 33,339 62% 5,972
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(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 2009 From Fiscal 2008
----------------- ----------------
First Percent First
Quarter of Sales Quarter
------- -------- -------
Sales 10,175 100% 2,570
Cost of sales 4,260 42% 805
------- -------- -------
Gross margin 5,915 58% 1,765
Gross margin percentage 58.1%
SG&A expense 1,224 12% 110
Interest income (790) (8%) (107)
Exchange loss/(gain) 260 3% 356
------- -------- -------
694 7% 359
------- -------- -------
Pretax result 5,221 51% 1,406
======= ======== =======
R&D SYSTEMS EUROPE
(in thousands of $'s)
Increase
(Decrease)
Fiscal 2009 From Fiscal 2008
----------------- ----------------
First Percent First
Quarter of Sales Quarter
------- -------- -------
Sales 18,941 100% 3,492
Cost of sales 7,931 42% 911
------- -------- -------
Gross margin 11,010 58% 2,581
Gross margin percentage 58.1%
SG&A expense 2,283 12% 21
Interest income (1,471) (8%) (84)
Exchange loss 476 3% 674
------- -------- -------
1,288 7% 611
------- -------- -------
Pretax result 9,722 51% 1,970
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HEMATOLOGY
(in thousands of $'s)
Increase
(Decrease)
Fiscal 2009 From Fiscal 2008
----------------- ----------------
First Percent First
Quarter of Sales Quarter
------- -------- -------
Sales 4,246 100% 589
Cost of sales 2,369 56% 108
------- -------- -------
Gross margin 1,877 44% 481
Gross margin percentage 44.2%
SG&A expense 436 10% (31)
R&D expense 193 4% 14
Interest, net (102) (2%) 18
------- -------- -------
527 12% 1
------- -------- -------
Pretax result 1,350 32% 480
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CORPORATE AND OTHER (2)
(in thousands of $'s)
Increase
(Decrease)
Fiscal 2009 From Fiscal 2008
----------- ----------------
First First
Quarter Quarter
------- -------
Interest income 230 (4)
Rental income 99 32
------- -------
329 28
SG&A expense 980 243
Other-Building expenses 553 9
Other-Equity Investment losses 259 3
------- -------
1,792 255
------- -------
Pretax result (1,463) (227)
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(2) Unallocated corporate expenses and Techne's share of losses
by Hemerus Medical, LLC and Nephromics, LLC.