Techne Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - Techne Corporation's (TECH) reported that its third-quarter net income decreased to $31.64 million or $0.85 per share, from $33.12 million or $0.90 per share, previous year. Adjusted net earnings was $34.68 million or $0.94 per share, for the quarter.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.89 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 18.0% to $95.55 million from $80.99 million. Analysts expected revenue of $92.50 million for the quarter. Organic sales increased 5.3% in the quarter.

The consolidated gross margin percentage was 71.3% compared to 75.5% prior year.