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Techne Corporation Releases Unaudited Fourth Quarter Results for Fiscal Year 2009
Date:8/4/2009

higher margin Biotechnology Division sales to lower margin Hematology Division and R&D Europe sales.

Selling, general and administrative expenses for the quarter and fiscal year ended June 30, 2009 decreased $1.4 million (15.9%) and $3.6 million (9.7%), respectively from the quarter and fiscal year ended June 30, 2008. The decrease in selling, general and administrative expenses from the comparable prior-year periods were the result of the following (in thousands):

                                                       Quarter  Fiscal Year
    Reduction in profit sharing expense                $(1,816)     $(3,759)
    Change in exchange rates to convert foreign
     expenses to U.S. dollars                             (486)      (2,024)
    Legal expenses                                         587          786
    Stock option expense                                   111         (249)
    Other, including annual wage, salary and benefits
     increases                                             178        1,695
                                                           ---        -----
                                                       $(1,426)     $(3,551)
                                                      ========     ========

Research and development expenses increased $187,000 (3.2%) and $1.2 million (5.2%), respectively, for the quarter and fiscal year ended June 30, 2009 from the comparable prior-year periods.

Interest income decreased $1.7 million and $4.6 million for the quarter and fiscal year ended June 30, 2009, respectively, from the comparable prior-year periods, primarily as a result of lower rates of return on cash and available-for-sale investments and, to a lesser extent, to lower cash and available-for-sale investment balances.

The effective tax rates for the quarter and fiscal
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SOURCE Techne Corporation
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