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Techne Corporation Releases Unaudited Third Quarter Results for Fiscal Year 2011
Date:5/3/2011

arterly reports on Form 10-Q as filed with the Securities and Exchange Commission.  We undertake no obligation to update or revise any forward-looking statements we make in our press releases due to new information or future events.  Investors are cautioned not to place undue emphasis on these statements.

Techne Corporation has two operating subsidiaries:  Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England.  R&D Systems is a specialty manufacturer of biological products.  R&D Systems has three subsidiaries, BiosPacific, Inc. (BiosPacific), located in Emeryville, California, Boston Biochem, Inc., located in Cambridge, Massachusetts, and R&D Systems China Co. Ltd., (R&D China), located in Shanghai, China.  BiosPacific is a worldwide supplier of biologics to manufacturers of in vitro diagnostic systems and immunodiagnostic kits. Boston Biochem is a leading developer and manufacturer of ubiquitin-related research products. R&D China and R&D Europe distribute biotechnology products.TECHNE CORPORATION

CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except per share data)

(Unaudited)QUARTER ENDED

NINE MONTHS ENDED3/31/11

3/31/10

3/31/11

3/31/10Net sales

$76,271

$70,278

$211,924

$202,333Cost of sales

15,833

14,399

46,292

40,629Gross margin

60,438

55,879

165,632

161,704Operating expenses:Selling, general and administrative

9,233

7,666

25,150

24,711Research and development

6,297

6,325

19,519

18,870Amortization of intangible assets

170

240

511

720Total operating expenses

15,700

14,231

45,180

44,301Operating income

44,738

41,648

120,452

117,403Oth
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SOURCE Techne Corporation
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