The company said consolidated net sales for the quarter ended December 31, 2023 were flat at $272.6 million compared to the same prior-year period, and organic revenue declined 2%. It said acquisitions and foreign currency exchange each had a favorable impact of 1%.

10-QQuarterly reportFiled Feb 7, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said consolidated net sales for the quarter ended December 31, 2023 were flat at $272.6 million compared to the same prior-year period, and organic revenue declined 2%. It said acquisitions and foreign currency exchange each had a favorable impact of 1%.
The company said consolidated net earnings attributable to Bio-Techne for the quarter were $27.5 million, down from $50.0 million in the same prior year period. It cited the impairment of assets held-for-sale, restructuring charges, the Lunaphore acquisition, unfavorable volume, and product mix as factors in the decline.
The company said its consolidated gross margin for the quarter was 64.8%, down from 67.5% in the same prior year period, and its adjusted gross margin was 69.7%, compared with 71.7% a year earlier. It cited unfavorable volume and product mix, as well as the Lunaphore acquisition, as affecting both measures.
The company said it generated $142.5 million of cash from operating activities in the 6 months ended December 31, 2023, compared with $120.5 million a year earlier. It cited favorable timing of payments on certain operating assets and liabilities as a factor.

Key figures

Quarter ended December 31, 2023

Revenue: $273M
Operating income: $38M
Net income: $27M
EPS: $0.17
Gross profit: $177M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Flat Quarterly Net Sales, Organic Revenue Down 2%

The company said consolidated net sales for the quarter ended December 31, 2023 were flat at $272.6 million compared to the same prior-year period, and organic revenue declined 2%. It said acquisitions and foreign currency exchange each had a favorable impact of 1%.

Source · Based on the MD&A text of the filing

Bio-Techne Net Earnings Attributable to $27.5 million

The company said consolidated net earnings attributable to Bio-Techne for the quarter were $27.5 million, down from $50.0 million in the same prior year period. It cited the impairment of assets held-for-sale, restructuring charges, the Lunaphore acquisition, unfavorable volume, and product mix as factors in the decline.

Source · Based on the MD&A text of the filing

Quarterly Gross Margin 64.8%

The company said its consolidated gross margin for the quarter was 64.8%, down from 67.5% in the same prior year period, and its adjusted gross margin was 69.7%, compared with 71.7% a year earlier. It cited unfavorable volume and product mix, as well as the Lunaphore acquisition, as affecting both measures.

Source · Based on the MD&A text of the filing

6-Month Operating Cash Flow $142.5 million

The company said it generated $142.5 million of cash from operating activities in the 6 months ended December 31, 2023, compared with $120.5 million a year earlier. It cited favorable timing of payments on certain operating assets and liabilities as a factor.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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