AP NEWS

Techne: Fiscal 2Q Earnings Snapshot

February 4, 2020 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TECH at https://www.zacks.com/ap/TECH