Bio-Techne (TECH) Tops Q3 EPS by 4c, Beats on Revenues

Bio-Techne (NASDAQ: TECH) reported Q3 EPS of $0.97, $0.04 better than the analyst estimate of $0.93. Revenue for the quarter came in at $144 million versus the consensus estimate of $142.74 million.

Third Quarter FY2017 Snapshot

• Third quarter revenue increased by 10% to $144.0 million.
• GAAP fully diluted earnings per share (EPS) for third quarter decreased 30% to $0.57 due to acquisition-related amortization, contingent consideration fair value adjustments, and other acquisition related costs.
• Delivered third quarter adjusted earnings per share (EPS) of $0.97, a decrease of 4% from the prior year, with foreign currency exchange headwinds impacting results by $0.01 or 1%.
• Biotechnology segment delivered 6% organic growth in Q3, led by the antibody portfolio and strong commercial execution in Europe.
• Protein Platforms segment delivered 20% organic growth in Q3, led by the Biologics (iCE) platform and acceleration of multiplex ELISAs (Ella).
• Advanced Cell Diagnostics (ACD) continued its high double-digit growth with revenues increasing nearly 60% on a stand-alone basis.

For earnings history and earnings-related data on Bio-Techne (TECH) click here.

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