Techne Corporation Releases Unaudited Second Quarter Results for Fiscal... (ange rates used toconvert British pounds...)

Techne Corporation Releases Unaudited Second Quarter Results for Fiscal Year 2008

Date:1/29/2008

ange rates used to convert British pounds to U.S. dollars of $283,000.

In October 2006, the Company repaid its mortgage debt. The total payment of $13.8 million included the mortgage principal balance, accrued interest and a 5% prepayment penalty of $651,000. The prepayment penalty and $78,000 of unamortized loan origination fees were included in interest expense for the quarter ended December 31, 2006.

The effective tax rate was 33.6% for the quarter and six months ended December 31, 2007 as compared to 33.9% for the quarter and six months ended December 31, 2006. Without significant business developments, the Company expects its fiscal 2008 effective income tax rate to range from approximately 33.5% to 34.5%.

The Company repurchased approximately 321,000 shares of its common stock during the second quarter of fiscal 2008 for approximately $20.6 million.

Forward Looking Statements:

This earnings release contains forward-looking statements within the meaning of the Private Litigation Reform Act. These statements, including the Company's expectations as to growth rates and income tax rates, involve risks and uncertainties that may affect the actual results of operations. The following important factors, among others, have affected and, in the future, could affect the Company's actual results: the introduction and acceptance of new biotechnology and hematology products, the levels and particular directions of research by the Company's customers, the impact of the growing number of producers of biotechnology research products and related price competition, the retention of hematology OEM and proficiency survey business, the impact of currency exchange rate fluctuations, and the costs and results of research and product development efforts of the Company and of companies in which the Company has invested or with which it has formed strategic relationships.

For additional information concerning such factors, see the Company's ann
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7
Related biology technology :

1. Techne Corporation Announces Share Repurchase Authorization
2. China Bionanometer Industries Corporation Announces Record Second Quarter 2007 Results
3. Hagens Berman Sobol Shapiro: Lawsuit Filed Against CellCyte Genetics Corporation
4. Sigma-Aldrich Corporations 4th Quarter 2007 Earnings Conference Call
5. Omeros Corporation Files Registration Statement for Proposed Initial Public Offering
6. Genelex Corporation Defends Consumers Right to Obtain DNA Information:
7. Pharmos Corporation Completes Initial Closing of Private Placement
8. Pharmos Corporation Announces Board and Management Changes
9. Environmental Tectonics Corporation Announces Sale of Monoplace Hyperbaric Chambers
10. CuraGen Corporation Announces Appointment of Sean Cassidy as CFO
11. LifeCell Corporation Schedules 2008 Financial Guidance Release and Conference Call; January 7, 2008 at 10:00 A.M. Eastern

Post Your Comments:

Techne Corporation Releases Unaudited Second Quarter Results for Fiscal...(ange rates used toconvert British pounds...)