Bio-Techne Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Bio-Techne Corp. (TECH) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $49.059 million, or $0.31 per share. This compares with $70.218 million, or $0.43 per share, in last year's third quarter.

Excluding items, Bio-Techne Corp. reported adjusted earnings of $76.425 million or $0.48 per share for the period.

Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.2% to $303.428 million from $294.146 million last year.

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

-Earnings (Q3): $49.059 Mln. vs. $70.218 Mln. last year. -EPS (Q3): $0.31 vs. $0.43 last year. -Revenue (Q3): $303.428 Mln vs. $294.146 Mln last year.