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Techne Corporation Releases Unaudited Second Quarter Results for Fiscal Year 2011
Date:2/1/2011

2,192

105,194

105,825Operating expenses:   Selling, general and administrative

8,365

9,007

15,917

17,045   Research and development

6,603

6,391

13,222

12,545   Amortization of intangible assets

171

240

341

480Total operating expenses

15,139

15,638

29,480

30,070Operating income

37,351

36,554

75,714

75,755Other income (expense):   Interest income

1,020

1,156

1,867

2,324   Other non-operating expense, net

(698)

(1,011)

(955)

(1,673)Total other (expense) income

322

145

912

651Earnings before income taxes

37,673

36,699

76,626

76,406Income taxes

11,139

11,978

23,719

24,913Net earnings

$26,534

$24,721

$52,907

$51,493Earnings per share:  Basic

$   0.72

$   0.66

$   1.43

$   1.38  Diluted

$   0.71

$   0.66

$   1.42

$   1.38Weighted average common shares outstanding:  Basic

37,093

37,252

37,066

37,248  Diluted

37,156

37,353

37,131

37,346TECHNE CORPORATION

CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)ASSETS

12/31/10

6/30/10Cash and equivalents

$135,875

$  94,139Short-term available-for-sale investments

58,987

44,672Trade accounts receivable

28,228

30,850Other receivables

1,986'/>"/>

SOURCE Techne Corporation
Copyright©2010 PR Newswire.
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