Bio-Techne said consolidated net sales for the quarter ended March 31, 2024 rose 3% from the same prior year period to $303.4 million. The company said organic revenue for the quarter increased 2%, with acquisitions adding 1%.

10-QQuarterly reportFiled May 6, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Bio-Techne said consolidated net sales for the quarter ended March 31, 2024 rose 3% from the same prior year period to $303.4 million. The company said organic revenue for the quarter increased 2%, with acquisitions adding 1%.
The company said net earnings attributable to Bio-Techne for the quarter ended March 31, 2024 fell to $49.1 million from $70.2 million a year earlier. It cited the Lunaphore acquisition, CEO transition and restructuring charges, and unfavorable volume in Protein Sciences as factors behind the decline.
Bio-Techne said its consolidated gross margin for the quarter ended March 31, 2024 was 67.4%, below 68.7% in the same prior year period. Adjusted gross margin was 71.9% compared with 72.6% a year earlier, and the company said unfavorable volume and the Lunaphore acquisition had affected both measures.
Bio-Techne said it generated $223.5 million in cash from operating activities in the 9 months ended March 31, 2024, compared with $171.0 million a year earlier. The company cited favorable timing of payments on certain operating assets and liabilities as the reason for the increase.

Key figures

Quarter ended March 31, 2024

Revenue: $303M
Operating income: $67M
Net income: $49M
EPS: $0.31
Gross profit: $205M

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.

Quarterly Net Sales $303.4 million

Bio-Techne said consolidated net sales for the quarter ended March 31, 2024 rose 3% from the same prior year period to $303.4 million. The company said organic revenue for the quarter increased 2%, with acquisitions adding 1%.

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

Net Earnings Attributable to Parent $49.1 million

The company said net earnings attributable to Bio-Techne for the quarter ended March 31, 2024 fell to $49.1 million from $70.2 million a year earlier. It cited the Lunaphore acquisition, CEO transition and restructuring charges, and unfavorable volume in Protein Sciences as factors behind the decline.

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

Quarterly Consolidated Gross Margin 67.4%

Bio-Techne said its consolidated gross margin for the quarter ended March 31, 2024 was 67.4%, below 68.7% in the same prior year period. Adjusted gross margin was 71.9% compared with 72.6% a year earlier, and the company said unfavorable volume and the Lunaphore acquisition had affected both measures.

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

9-Month Operating Cash Flow $223.5 million

Bio-Techne said it generated $223.5 million in cash from operating activities in the 9 months ended March 31, 2024, compared with $171.0 million a year earlier. The company cited favorable timing of payments on certain operating assets and liabilities as the reason for the increase.

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.

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