Bio-Techne Corp. Q2 Profit Decreases, misses estimates

(RTTNews) - Bio-Techne Corp. (TECH) reported a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $50.01 million, or $0.31 per share. This compares with $80.17 million, or $0.49 per share, in last year's second quarter.

Excluding items, Bio-Techne Corp. reported adjusted earnings of $75.23 million or $0.47 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.9% to $271.58 million from $269.28 million last year.

Bio-Techne Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $50.01 Mln. vs. $80.17 Mln. last year. -EPS (Q2): $0.31 vs. $0.49 last year. -Analyst Estimates: $0.62 -Revenue (Q2): $271.58 Mln vs. $269.28 Mln last year.