Bio-Techne Q2 Profit Beats Estimates; Organic Revenue Up 14% - Quick Facts

(RTTNews) - Bio-Techne Corp. (TECH) reported that its second-quarter adjusted EPS increased to $1.02, from $0.81 in the same quarter last year. Adjusted operating income increased 16% from prior year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.92 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net sales increased 17% to $154.2 million. Organic growth was 14% compared to the prior year, with currency translation having a positive impact of 2% and acquisitions contributing 1% to revenue growth. Analysts expected revenue of $146.29 million for the quarter.

"Our company had extraordinary performance in the second quarter on both the top and bottom-line. These were the best results since we started to transform the company nearly five years ago. The investments made in the core company and the synergies with our strategic acquisitions are beginning to display nice leverage and upside," said Chuck Kummeth, CEO of Bio-Techne.