Bio-Techne Q4 Profit Misses Estimates; Organic Growth In Sales At 7%

(RTTNews) - Bio-Techne Corp. (TECH) reported fourth-quarter adjusted earnings per share of $1.25 compared to $1.34, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $1.33, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales increased 6% to $191.7 million. Organic growth was 7%, for the quarter. Analysts expected revenue of $197.77 million, for the quarter.

Chuck Kummeth, CEO of Bio-Techne, said: "While our Diagnostics tools division was adversely impacted this quarter by the timing of OEM order flow, our Genomics division continues to be in full recovery from earlier in the year and again, topped 20% organic growth in the fourth quarter."

Bio-Techne Corp. announced that its Board has decided to pay a dividend of $0.32 per share for the quarter ended June 30, 2019. The dividend will be payable August 30, 2019 to all common shareholders of record on August 16, 2019.