Bio-Techne (NASDAQ: TECH) reported Q1 EPS of $1.06, $0.01 better than the analyst estimate of $1.05. Revenue for the quarter came in at $183.2 million versus the consensus estimate of $179.4 million.

First Quarter FY2020 Snapshot

• First quarter organic revenue increased by 13% (12% reported) to $183.2 million.
• GAAP EPS was $0.37 versus $0.45 one year ago. Delivered adjusted earnings per share (EPS) of $1.06, an increase of 8% over the prior year.
• Both segments delivered solid double-digit organic growth with Diagnostics and Genomics at 16% and Protein Sciences at 12%.
• Construction commenced on a state-of-the-art GMP manufacturing facility to support our expanding cell and gene therapy portfolio.
• More than 60 million Medicare beneficiaries will be covered for the ExoDx Prostate IntelliScore (EPI) test on December 1, 2019, upon finalization of the Local Coverage Decision from the Medicare Administrative Contractor.

"We opened fiscal 2020 posting an outstanding first quarter," said Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "The 13% organic growth for the quarter was the result of very good execution from our global team and our strong product portfolio, which remains extremely vital in research workflow for our customers."

Kummeth added, "Our end-markets, including BioPharma and Europe, remain healthy, while China continues to outperform at nearly 20% growth. I\'m very proud of the team for this excellent start to the year and very optimistic about our future execution and growth due to all the exciting new products and services we offer as a valued partner to researchers worldwide. "

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