$TECH (Bio-Techne Corp.)

$TECH {{ '2016-08-17T11:44:51+0000' | timeago}} • Announcement

Medical testing and diagnostic products maker $TECH reported a drop in 4Q16 earnings due to negative impact by mix of lower-margin acquisitions, investments and higher stock based compensation. Net income slid to $25.63MM or $0.69 per share from $26.33MM or $0.71 per share in 4Q15. Net sales grew 15% to $134.76MM. Adjusted EPS rose 2% to $0.92.

$TECH {{ '2016-10-31T14:59:36+0000' | timeago}} • Webcast

In FY17, $TECH expects overall organic growth to be similar, if not slightly ahead of FY16. The company expects 2Q17 Diagnostics revenue to be relatively flat to the prior year. Adjusted operating margin is expected to improve in 2H17, as Advanced Cell Diagnostics' revenue continues to ramp, producing more volume leverage for the Biotech segment.

$TECH {{ '2016-10-31T14:51:07+0000' | timeago}} • Webcast

$TECH ended 1Q17 with $122MM of cash and short-term available-for-sale investments. The company's long-term debt obligations at the end of 1Q17 stood at $375.9MM, an increase of $245.9MM from the end of 4Q16.

$TECH {{ '2016-10-31T14:47:56+0000' | timeago}} • Webcast

$TECH had $26.1MM of cash from operations in 1Q17, and its investment in CapEx was $2.4MM. The new ERP system that was implemented in July 2016 delayed some customer invoicing until later in the quarter, driving 1Q17-end accounts receivable balance approx. $10MM higher. $TECH expects these outstanding receivables to be fully collected in 2Q17.

$TECH {{ '2016-10-31T14:44:24+0000' | timeago}} • Webcast

$TECH paid out dividends of $11.9MM in 1Q17. Average diluted shares were up less than 1% over the year-ago period at 37.5MM shares outstanding.

$TECH {{ '2016-10-31T12:53:08+0000' | timeago}} • Announcement

$TECH's Biotechnology segment had net sales of $86.8MM in 1Q17, an increase of 15% from $75.7MM last year. Diagnostics segment's 1Q17 net sales were $24.2MM, an increase of 19% from a year ago. Protein Platforms segment revenue was $19.6MM, an increase of 20% from $16.3MM last year.

$TECH {{ '2016-10-31T12:50:42+0000' | timeago}} • Announcement

$TECH posted a decrease in 1Q17 earnings, hurt by acquisition-related amortization and other acquisition-related costs, compared to 1Q16. Net earnings were $16.3MM or $0.43 per share compared to $22.7MM or $0.61 per share last year. Net sales rose 16% from last year to $130.6MM. Adjusted EPS grew to $0.84 per diluted share, versus $0.79 last year.

$TECH {{ '2016-08-17T15:23:55+0000' | timeago}} • Webcast

Amanda Murphy of William Blair asks for an update on $TECH's operating margins. CEO Chuck Kummeth replied that with the dilution this coming year with ACD and Zephyrus and what it is doing, the company believes mid-30s is a safe number. He added that the company will be clawing back to the 40% number by working on productivity and synergies.

$TECH {{ '2016-08-17T15:08:43+0000' | timeago}} • Webcast

$TECH said that $36.3MM of cash was generated from operations in 4Q16 and its investment in CapEx was $3MM. The company ended 4Q16 with $95.8MM of cash and short-term available for sale investments, and long-term debt obligations at 4Q16-end stood at $126.5MM, a decrease of $31.3MM from the end of 3Q16.

$TECH {{ '2016-08-17T15:05:43+0000' | timeago}} • Webcast

$TECH stated that its other non-operating expense for 4Q16 was $1.9MM compared to $0.9MM of non-operating income in 4Q15. Adjusted effective tax rate in 4Q16 was 31.6%, an increase of 40 BPs from last year due to a greater percentage of taxable income being generated in the US, driven in part by the Cliniqa acquisition.

$TECH {{ '2016-08-17T15:01:36+0000' | timeago}} • Webcast

$TECH said total company adjusted gross margin was 70.1% in 4Q16, decreasing 70 BPs from the prior year. Strong volume leverage and productivity gains were more than offset by the lower margin Cliniqa acquisition and an unfavorable FX impact. Excluding the impact of acquisitions and FX, core gross margins improved 70 BP YoverY in 4Q16.

$TECH {{ '2016-08-17T14:49:18+0000' | timeago}} • Webcast

$TECH said it delivered 10% organic growth in 4Q16 and achieved 6% growth organically for all of FY16. This is an improvement over the 4% organic growth that the company had last year. In each of the past three years, $TECH has improved organic growth each year.

$TECH {{ '2016-08-17T11:52:16+0000' | timeago}} • Announcement

$TECH's net sales from Protein Platforms segment for 4Q16 grew 28% from last year. Protein Platforms organic revenue increased 29%, with an unfavorable currency impact of 1%. The Protein Platforms segment's adjusted operating margin rose to 7.5% from 0%, primarily the result of volume leverage.

$TECH {{ '2016-08-17T11:50:44+0000' | timeago}} • Announcement

$TECH's net sales from Clinical Controls segment for 4Q16 grew 33% from last year. Clinical Controls organic revenue was flat with acquisitions adding 33% to segment growth. The Clinical Controls segment's adjusted operating margin rose to 31.3% from 30.6%, driven by strong productivity gains in the segment.

$TECH {{ '2016-08-17T11:49:38+0000' | timeago}} • Announcement

$TECH's net sales from Biotechnology segment for 4Q16 rose 7% from last year. Organic growth for the segment was 8% in the quarter, with currency translation having an unfavorable impact of 1% on revenue growth. Biotechnology segment adjusted operating margin slid to 52.4% from 53.4%, due to business investments.

$TECH {{ '2016-08-17T11:46:38+0000' | timeago}} • Announcement

$TECH's GAAP operating margin for 4Q16 declined to 29.7% from 32.1% last year. GAAP operating margin compared to prior year was negatively impacted by the mix of lower-margin acquisitions made in FY16, investments made to drive long-term revenue growth, as well as higher stock based compensation.

$TECH {{ '2016-08-17T11:44:51+0000' | timeago}} • Announcement

Medical testing and diagnostic products maker $TECH reported a drop in 4Q16 earnings due to negative impact by mix of lower-margin acquisitions, investments and higher stock based compensation. Net income slid to $25.63MM or $0.69 per share from $26.33MM or $0.71 per share in 4Q15. Net sales grew 15% to $134.76MM. Adjusted EPS rose 2% to $0.92.

$TECH {{ '2016-08-02T10:28:44+0000' | timeago}} • Announcement

Life sciences company $TECH said it has completed its acquisition of Advanced Cell Diagnostics of Newark, California. With 9 acquisitions in the last 3 years, $TECH has grown from about 650 employees in 2013 to nearly 1,700 staff worldwide.

$TECH {{ '2016-07-07T05:37:06+0000' | timeago}} • Announcement

$TECH expects the acquisition to slightly reduce its adjusted EPS in FY17 and add to EPS thereafter. The ACD acquisition marks $TECH's entry into the genomics field and market. The deal is expected to close on or about Aug. 1.

$TECH {{ '2016-07-07T05:36:41+0000' | timeago}} • Announcement

Biotechnology and clinical diagnostic brands holding company $TECH said it will acquire Advanced Cell Diagnostics (ACD) for $250MM in cash plus contingent consideration of $75MM due upon achieving some milestones. Deal will be financed through cash on hand and a revolving credit facility that $TECH expects to obtain before closing the acquisition.

$TECH {{ '2016-03-21T15:00:31+0000' | timeago}} • Announcement

Global life sciences company $TECH said it has completed the acquisition of Zephyrus Biosciences. Zephyrus will be integrated into the Protein Platforms Division of $TECH. Zephyrus co-founder and CEO Kelly Gardner and other members of the team will remain in place following the closing.

Recent Transcripts

TMO (Thermo Fisher Scientific, Inc.)
Wednesday, July 26 2017 - 12:30pm
WAT (Waters Corporation)
Tuesday, July 25 2017 - 12:00pm
DHR (Danaher Corp.)
Thursday, July 20 2017 - 12:00pm
ONVO (Organovo Holdings, Inc.)
Wednesday, June 7 2017 - 9:00pm
A (Agilent Technologies Inc.)
Monday, May 22 2017 - 8:30pm
VRML (Vermillion, Inc.)
Thursday, May 11 2017 - 12:30pm
SGMO (Sangamo Biosciences Inc.)
Wednesday, May 10 2017 - 9:00pm
ACAD (ACADIA Pharmaceuticals Inc.)
Tuesday, May 9 2017 - 9:00pm
ATRS (Antares Pharma Inc.)
Tuesday, May 9 2017 - 12:30pm
PKI (PerkinElmer Inc.)
Thursday, May 4 2017 - 9:00pm
BIO.B (Bio-Rad Laboratories, Inc.)
Thursday, May 4 2017 - 9:00pm
RGEN (Repligen Corporation)
Thursday, May 4 2017 - 12:30pm
BDX (Becton, Dickinson and Company)
Thursday, May 4 2017 - 12:00pm
QGEN (Qiagen NV)
Wednesday, May 3 2017 - 1:00pm
AMRN (Amarin Corporation plc)
Wednesday, May 3 2017 - 12:00pm
KTWO (K2M Group Holdings, Inc.)
Tuesday, May 2 2017 - 9:00pm
TECH (Bio-Techne Corp.)
Tuesday, May 2 2017 - 1:00pm
BDX (Becton, Dickinson and Company)
Tuesday, May 2 2017 - 12:00pm
SGEN (Seattle Genetics, Inc.)
Thursday, April 27 2017 - 8:30pm
ABBV (AbbVie Inc.)
Thursday, April 27 2017 - 1:00pm

AlphaGraphics you may like