• Mon. Nov 30th, 2020

Pharma Oracle

Evolving Today for better Tomorrow

Paying attention is actual: Bio-Techne Corporation (NASDAQ: TECH)

On 14 Feb 2020, Bio-Techne Corporation (NASDAQ: TECH) spotted trading -6.61% off 52-week high price. On the other end, the stock has been noted 16.97% away from the low price over the last 52-weeks. The stock changed 1.40% to recent value of $208.53. The stock transacted 75869 shares during most recent day however it has an average volume of 144.65K shares. The company has 38.74M of outstanding shares and 37.93M shares were floated in the market.

Bio-Techne Corporation (TECH) recently stated its financial results for the second quarter ended December 31, 2019.

Second Quarter FY2020 Snapshot

Second quarter organic revenue increased by 6% (6% stated) to $184.9M and 9% (9% stated) in the first half of fiscal 2020 to $368.2M.

GAAP EPS was $3.02 versus $0.45 one year ago resulting from a gain of about $121M on our ChemoCentryx investment. Delivered adjusted earnings per share (EPS) of $1.08, a raise of 2% despite foreign currency exchange headwinds negatively impacting results by $0.08 or 8% in the second quarter.

Adjusted Operating Margin increased to 33.4% in the second quarter of fiscal 2020 contrast to 32.5% in the second quarter of fiscal 2019.

Diagnostics and Genomics delivered organic growth of 12% in the second quarter and 14% in the first half of fiscal 2020.

As of December 1, 2019, applicable Medicare beneficiaries are now covered for the ExoDx Prostate Test.

The Company formed a new joint venture focused on providing scalable manufacturing technologies and processes needed to develop and commercialize new cell and gene therapies.

Delivered record Operating Cash Flow in the quarter and paid down $103M of debt.

Second Quarter Fiscal 2020

Revenue

Net sales for the second quarter increased 6% to $184.9M. Organic growth was 6% contrast to the previous year, with foreign currency exchange having an unfavorable impact of 1% and acquisitions contributing 1% to revenue growth.

GAAP Earnings Results

GAAP EPS increase to $3.02 per diluted share, versus $0.45 in the same quarter last year. GAAP EPS was favorably influenced by a gain of about $121M on our ChemoCentryx investment. GAAP operating income for the second quarter of fiscal 2020 increased 10% to $37.0M, contrast to $33.6M in the second quarter of fiscal 2019. GAAP operating margin was 20.0%, contrast to 19.3% in the second quarter of fiscal 2019. GAAP operating margin contrast to previousyear was positively influenced by volume leverage on sales growth.

Non-GAAP Earnings Results

Adjusted EPS increased to $1.08 per diluted share, versus $1.06 in the same quarter last year, a raise of 2%. Adjusted EPS increased Because of revenue growth in the quarter, which was partially offset by foreign currency headwinds. Adjusted operating income for the second quarter of fiscal 2020 increased 9% contrast to the second quarter of fiscal 2019. Adjusted operating margin was 33.4%, contrast to 32.5% in the second quarter of fiscal 2019. Adjusted operating margin contrast to the previous year was favorably influenced by volume leverage on sales growth.

Section Results

Management uses adjusted operating results to monitor and evaluate performance of the Company’s business sections, as highlighted below. Since these results are used for this purpose, they are also considered to be prepared in accordance with GAAP.

Protein Sciences Section

The Company’s Protein Sciences section is one of the world’s leading suppliers of specialized proteins such as cytokines and growth factors, immunoassays, antibodies and reagents, to the biotechnology community. Additionally, the section provides an array of platforms useful in various areas of protein analysis. Protein Sciences section’s second quarter fiscal 2020 net sales were $141.5M, a raise of 4% from $135.5M for the second quarter of fiscal 2019. Organic growth for the section was 4%, with foreign currency exchange having an unfavorable impact of 1% on revenue growth and acquisitions contributing 1% to revenue growth. Protein Sciences section’s operating margin was 43.0% in the second quarter of fiscal 2020 contrast to 43.5% in the second quarter of fiscal 2019. The section’s operating margin contrast to the previous year was negatively influenced by the acquisition of B-Mogen in Q4 of FY19 and unfavorable foreign exchange.

Its earnings per share (EPS) expected to touch remained 1.10% for this year while earning per share for the next 5-years is expected to reach at 11.00%. TECH has a gross margin of 66.20% and an operating margin of 21.20% while its profit margin remained 26.20% for the last 12 months.   According to the most recent quarter its current ratio was 4.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.64% from the mean of 20 days, -3.25% from mean of 50 days SMA and performed 1.15% from mean of 200 days price. Company’s performance for the week was 3.72%, -5.34% for month and YTD performance remained -5.00%.

 

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