Techne Corporation Releases Unaudited Second Quarter Results for Fiscal... (ystems China and BiosPacific were $39.1m...)

Techne Corporation Releases Unaudited Second Quarter Results for Fiscal Year 2008

Date:1/29/2008

ystems China and BiosPacific, were $39.1 million and $78.0 million, for the quarter and six months ended December 31, 2007, increases of 17.1% and 12.5%, respectively. This improvement was primarily the result of increased volume and the timing of shipments to diagnostic customers. The timing of diagnostic customer sales is not predictable and these sales increases are not necessarily indicative of future sales. Excluding the increased sales to diagnostic customers, Biotechnology net sales increased 12.9% and 12.3% for the quarter ended and six months ended December 31, 2007, respectively, from the comparable prior year periods.

R&D Europe's net sales for the quarter and six months ended December 31, 2007 were $19.0 million and $34.5 million, increases of 24.7% and 22.3%, respectively, from the same prior-year periods. In British pounds, R&D Europe's net sales increased 18.5% and 14.8% for the quarter and six months ended December 31, 2007. Hematology net sales for the quarter and six months ended December 31, 2007 were $4.0 million and $7.6 million, increases of 3.8% and 4.1%, respectively, compared to the quarter and six months ended December 31, 2006.

Tom Oland, President and Chief Executive Officer of Techne Corporation, said, "Second quarter sales exceeded our expectations in all segments of our business and in nearly all product lines and geographical territories. However, given the exceptionally strong sales growth rate in this quarter and due to the Easter holiday falling in March 2008, we caution our shareholders not to expect a similar sales growth rate in our third fiscal quarter."

Mr. Oland added, "Our business is doing well. We continue to release new products and build for our future. For fiscal 2008, given current trends for our specific products, we continue to target revenue growth in the range of 8% to 11%."

Consolidated gross margins were 79.5% and 79.3% for the quarter and six months ended December 31, 2007 respectivel
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Techne Corporation Releases Unaudited Second Quarter Results for Fiscal...(ystems China and BiosPacific were $39.1m...)