Sector: Healthcare|Industry: Biotechnology|Market Cap: $11.80B|Employees: 3K
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids. The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications. The company has strategic partnership with ALZpath, Inc. to accelerate breakthroughs in neurodegenerative disease research and treatment, including Alzheimer's disease. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was incorporated in 1976 and is headquartered in Minneapolis, Minnesota.
Consolidated net sales for the quarter ended December 31, 2024, increased 9% to $297.0 million compared to $272.6 million in the same prior year period. This growth was primarily driven by broad-based performance in the Diagnostics and Spatial Biology portfolio and improving biopharma end market conditions.
Consolidated net earnings increased to $34.9 million for the quarter ended December 31, 2024, as compared to $27.5 million for the quarter ended December 31, 2023. The increase in net earnings is primarily due to favorable volume leverage and a non-recurring prior year impairment of a business held-for-sale.
Consolidated gross margins for the six months ended December 31, 2024, were 64.3%, compared to 65.8% for the same prior year period. Fluctuations in consolidated gross margin and adjusted gross margin, as a percentage of sales, have primarily resulted from changes in product mix.