(RTTNews) - Life sciences company Bio-Techne Corp. (TECH) reported Tuesday that fourth-quarter net earnings surged to $58.85 million or $1.48 per share from $16.46 million or $0.42 per share in the prior-year quarter.
Excluding items, adjusted earnings were $1.00 per share, compared to $1.25 per share in the year-ago quarter.
Net sales for the quarter decreased 8 percent to $175.83 million from last year's $191.66 million. Organic revenue decreased 8 percent, with currency translation and acquisitions having an immaterial impact on revenue.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share on revenues of $163.91 million for the quarter. Analysts' estimates typically exclude special items.
Separately, the company's Board of Directors decided to pay a dividend of $0.32 per share for the quarter ended June 30, 2020, payable August 28, 2020 to all common shareholders of record on August 18, 2020.
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