Bio-Techne Q1 Adj. Profit Beats Estimates

(RTTNews) - Bio-Techne Corp. (TECH) Monday reported a decline in first quarter net earnings to $16.28 million from $22.707 million in the previous year. On a per share basis, earnings were $0.43, down from $0.61 a year ago. On an adjusted basis, earnings were $0.84 per share.

On average, 5 analysts polled by Thomson Reuters expected the company to earn $0.79 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $130.58 million from $112.38 million in the previous year. Wall Street expected the company to earn $127.47 million.

Further, the company said it closed the acquisition of Advanced Cell Diagnostics.

In a separate announcement, Bio-Techne said its board has decided to pay a dividend of $0.32 per share for the September quarter, payable on November 28 to shareholders on record November 14.