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Techne Corporation Releases Unaudited First Quarter Fiscal Year 2012 Financial Results
Date:10/25/2011

Massachusetts, R&D Systems China Co. Ltd., (R&D China), located in Shanghai, China and Tocris Cookson, Inc, located in Saint Louis, Missouri.  BiosPacific is a worldwide supplier of biologics to manufacturers of in vitro diagnostic systems and immunodiagnostic kits. Boston Biochem is a leading developer and manufacturer of ubiquitin-related research products. R&D China and R&D Europe distribute biotechnology products.  R&D Europe has two subsidiaries, Tocris Holding, Ltd (Tocris) of Bristol, England and R&D Systems GmbH, a German sales operation.  Tocris is a leading supplier of reagents for non-clinical life science research.

TECHNE CORPORATION

CONSOLIDATED STATEMENTS OF EARNINGS

(In thousands, except per share data)

(Unaudited)QUARTER ENDED9/30/11

9/30/10Net sales

$77,596

$67,945Cost of sales

19,209

15,350Gross margin

58,387

52,595Operating expenses:   Selling, general and administrative

10,773

7,613Research and development

6,667

6,619Total operating expenses

17,440

14,232Operating income

40,947

38,363Other income (expense):   Interest income

728

847   Other non-operating expense, net

(1,175)

(257)Total other (expense) income

(447)

590Earnings before income taxes

40,500

38,953Income taxes

12,979

12,580Net earnings

$27,521

$26,373Earnings per share:   Basic

$   0.74

$   0.71   Diluted

$   0.74

$   0.71Weighted average common shares outstanding:   Basic

37,095

37,040   Diluted

37,170

37,107TECHNE CORPORATION

CONSOLIDATED BALANCE SHEETS

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SOURCE Techne Corporation
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