Techne: Fiscal 4Q Earnings Snapshot
MINNEAPOLIS (AP) _ Techne Corp. (TECH) on Tuesday reported fiscal fourth-quarter net income of $16.5 million.
The Minneapolis-based company said it had profit of 42 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.25 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.
The maker of medical testing and diagnostic products posted revenue of $191.7 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $198 million.
For the year, the company reported profit of $96.1 million, or $2.47 per share. Revenue was reported as $714 million.
Techne shares have risen 38% since the beginning of the year. The stock has increased 20% in the last 12 months.