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Techne: Fiscal 4Q Earnings Snapshot

August 6, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TECH at https://www.zacks.com/ap/TECH

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