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Bio-Techne Q4 Results Top Estimates; Declares Dividend - Quick Facts

(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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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