The 10-second takeaway
For the quarter ended March 31 (Q3), Techne met expectations on revenues and missed estimates on earnings per share.
Compared with the prior-year quarter, revenue grew and GAAP earnings per share expanded slightly.
Margins dropped across the board.
Techne reported revenue of $83.6 million. The four analysts polled by S&P Capital IQ expected sales of $83.2 million on the same basis. GAAP reported sales were 9.6% higher than the prior-year quarter's $76.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.87. The one earnings estimate compiled by S&P Capital IQ anticipated $0.89 per share. GAAP EPS of $0.86 for Q3 were 2.4% higher than the prior-year quarter's $0.84 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 75.8%, 340 basis points worse than the prior-year quarter. Operating margin was 55.4%, 330 basis points worse than the prior-year quarter. Net margin was 38.0%, 270 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $80.9 million. On the bottom line, the average EPS estimate is $0.86.
Next year's average estimate for revenue is $317.0 million. The average EPS estimate is $3.27.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 285 members out of 293 rating the stock outperform, and eight members rating it underperform. Among 89 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 88 give Techne a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Techne is hold, with an average price target of $78.00.
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