The 10-second takeaway
For the quarter ended March 31 (Q3), Techne missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share dropped slightly. GAAP earnings per share expanded.
Gross margins contracted, operating margins dropped, net margins grew.
Techne reported revenue of $81.0 million. The five analysts polled by S&P Capital IQ expected to see revenue of $84.1 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.88. The six earnings estimates compiled by S&P Capital IQ anticipated $0.89 per share. Non-GAAP EPS of $0.88 for Q3 were 2.2% lower than the prior-year quarter's $0.90 per share. GAAP EPS of $0.90 for Q3 were 4.7% higher than the prior-year quarter's $0.86 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 75.5%, 260 basis points worse than the prior-year quarter. Operating margin was 54.3%, 350 basis points worse than the prior-year quarter. Net margin was 40.9%, 290 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $81.1 million. On the bottom line, the average EPS estimate is $0.84.
Next year's average estimate for revenue is $315.3 million. The average EPS estimate is $3.21.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 257 members out of 265 rating the stock outperform, and eight members rating it underperform. Among 75 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 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 $72.60.
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