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Techne Corporation Releases Unaudited Third Quarter And Nine Month Fiscal Year 2013 Results
Date:4/30/2013

espectively, from the comparable prior-year periods.

The gross margin percentage was 75.5% in the quarter ended March 31, 2013 as compared to 75.8% in the comparable prior-year quarter.  For the nine-month period ended March 31, 2013 the gross margin percentage decreased to 74.4% from 75.0% in the comparable prior-year period. Gross margins adjusted for costs recognized upon sale of acquired inventory and amortization of intangible assets were 77.7% and 79.0% for the quarters ended March 31, 2013 and 2012, respectively, and 76.9% and 78.5% for the nine-month periods ended March 31, 2013 and 2012, respectively, if such costs were excluded in all periods.  The decrease in adjusted gross margins for the quarter and nine-month periods were primarily caused by lower sales volumes and unfavorable exchange rates.

Selling, general and administrative expenses for the quarter and nine-month periods ended March 31, 2013 increased $83,000 and declined $57,000 from the quarter and nine-month period ended March 31, 2012, respectively. Selling, general and administrative expenses were impacted by decreases in profit sharing expense of $399,000 and $1.1 million for the quarter and nine-month periods, respectively, as compared to the prior-year periods.  The increase in selling, general and administrative expense, excluding profit sharing impact, was mainly the result of increased marketing wages and consulting related to upgrading the Company's website.

Research and development expenses for the quarter and nine-month periods ended March 31, 2013 increased $97,000 (1.4%) and $1.4 million (7.0%) from the quarter and nine-month periods ended March 31, 2012, respectively.  The increase in research and development expenses is mainly due to increases in personnel and supply costs associated with the continuous development and release of new high-quality biotechnology products.

Other non-operating expenses for the quarter and nine-month per
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SOURCE Techne Corporation
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