Techne Q1 Profit Declines - Quick Facts

(RTTNews) - Techne Corp. (TECH), (d/b/a Bio-Techne) reported that its GAAP earnings for the first quarter ended September 30, 2014 declined to $23.9 million or $0.64 per share from $27.4 million or $0.74 per share in the same quarter last year.

Adjusted earnings for the first quarter rose to $31.7 million or $0.85 per share from $30.5 million or $0.83 per share in the previous year.

Net sales as reported for the first quarter increased 27% to $108.5 million. Organic growth was 3% in the quarter, with currency translation having a negligible impact and acquisitions contributing 24% to the revenue growth.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share and revenues of $108.65 million. Analysts' estimates typically exclude special items.