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Techne Corporation Releases Unaudited Fourth Quarter and Fiscal Year 2011 Results
Date:8/2/2011

, from a foreign exchange tax loss on Techne's repatriation of 50 million pounds sterling from R&D Systems Europe to its U.S. based parent.

Consolidated net sales for the quarter and fiscal year ended June 30, 2011 include $4.7 million of sales from the acquired companies.  A weaker U.S. dollar as compared to foreign currencies improved sales by $2.3 million and $466,000 in the quarter and fiscal year ended June 30, 2011, respectively, from the comparable prior-year periods.

As a result of the acquisitions described above, the Company has revised its segment reporting and will include the operations of R&D Systems' Biotechnology Division, R&D Systems Europe, Tocris, R&D Systems China, BiosPacific and Boston Biochem in its Biotechnology segment. R&D Systems' Hematology Division operations will continue to be reported as the Company's Hematology segment.

Biotechnology segment net sales were $73.0 million for the quarter ended June 30, 2011, an increase of 17.3% from $62.3 million for the quarter ended June 30, 2010.  Biotechnology net sales were $270 million for the fiscal year ended June 30, 2011, an increase of 7.8% from $251 million for the fiscal year ended June 30, 2010.  Biotechnology sales growth was 6.1% and 5.8% for the quarter and fiscal year ended June 30, 2011, respectively, if the sales from the acquisitions and foreign currency benefit are excluded.

Customer sales growth for the Biotechnology segment from the same prior-year periods included:Period ended June 30, 2011Quarter

Fiscal YearR&D Systems Biotechnology Division:Industrial, pharmaceutical  and biotechnology

2.3%

4.8%Academic

3.0%

6.4%Pacific Rim distributors

10.2%

4.1%R&D Europe:Reported

16.2%

4.4%In constant currency

3.2%

4.1%R&D China:Reported

28.1%

26.0%In constant currency

22.2%

22.6%Hematology net sales for t
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SOURCE Techne Corporation
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