Techne: Fiscal 2Q Earnings Snapshot
MINNEAPOLIS (AP) _ Techne Corp. (TECH) on Tuesday reported fiscal second-quarter net income of $119.6 million.
The Minneapolis-based company said it had net income of $3.02 per share. Earnings, adjusted for one-time gains and costs, were $1.08 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The maker of medical testing and diagnostic products posted revenue of $184.9 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $191.6 million.
Techne shares have fallen nearly 6% since the beginning of the year. The stock has risen 18% in the last 12 months.