The company said consolidated net sales for the quarter ended September 30, 2024 were $289.5 million, up 5% from the same prior year period, and organic growth was 4%. Consolidated net earnings were $33.6 million, down from $51.0 million in the same prior year period.

10-QQuarterly reportFiled Nov 5, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said consolidated net sales for the quarter ended September 30, 2024 were $289.5 million, up 5% from the same prior year period, and organic growth was 4%. Consolidated net earnings were $33.6 million, down from $51.0 million in the same prior year period.
The company said consolidated gross margin was 63.2%, lower than 66.9% in the same prior year period, and it attributed the change mainly to product mix. Operating margin was 39.4% for Protein Sciences (43.2% in the prior year period) and 5.1% for Diagnostics and Spatial Biology (0.7% in the prior year period).
The company said that for the first quarter of fiscal 2025, cash generated from operating activities was $63.9 million ($59.4 million in the same period of the prior year), and that it invested $15.0 million in Spear Bio in the same quarter. It also paid dividends of $12.7 million and repaid $19.0 million of long-term debt during the period.
The company said it is required to acquire the remaining 80.1% of Wilson Wolf on December 31, 2027, and the second option payment could be about $1 billion plus contingent consideration. As of September 30, 2024, cash and cash equivalents and available-for-sale investments totaled $187.5 million, and available credit on the line of credit was $700 million.

Key figures

Quarter ended September 30, 2024

Revenue: $289M
Operating income: $40M
Net income: $34M
EPS: $0.21
Gross profit: $183M
Operating cash flow: $64M

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 and Net Earnings

The company said consolidated net sales for the quarter ended September 30, 2024 were $289.5 million, up 5% from the same prior year period, and organic growth was 4%. Consolidated net earnings were $33.6 million, down from $51.0 million in the same prior year period.

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

Gross Margin and Segment Operating Margins

The company said consolidated gross margin was 63.2%, lower than 66.9% in the same prior year period, and it attributed the change mainly to product mix. Operating margin was 39.4% for Protein Sciences (43.2% in the prior year period) and 5.1% for Diagnostics and Spatial Biology (0.7% in the prior year period).

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

Operating Cash Flow, Investing and Financing Activities

The company said that for the first quarter of fiscal 2025, cash generated from operating activities was $63.9 million ($59.4 million in the same period of the prior year), and that it invested $15.0 million in Spear Bio in the same quarter. It also paid dividends of $12.7 million and repaid $19.0 million of long-term debt during the period.

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

Wilson Wolf Acquisition Commitment and Liquidity

The company said it is required to acquire the remaining 80.1% of Wilson Wolf on December 31, 2027, and the second option payment could be about $1 billion plus contingent consideration. As of September 30, 2024, cash and cash equivalents and available-for-sale investments totaled $187.5 million, and available credit on the line of credit was $700 million.

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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