Techne: Fiscal 2Q Earnings Snapshot
MINNEAPOLIS (AP) _ Techne Corp. (TECH) on Tuesday reported fiscal second-quarter earnings of $17.6 million.
On a per-share basis, the Minneapolis-based company said it had net income of 45 cents. Earnings, adjusted for one-time gains and costs, were $1.06 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The maker of medical testing and diagnostic products posted revenue of $174.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $170.1 million.
Techne shares have climbed 23 percent since the beginning of the year. The stock has increased 29 percent in the last 12 months.