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<SEC-DOCUMENT>0000842023-06-000023.txt : 20060426
<SEC-HEADER>0000842023-06-000023.hdr.sgml : 20060426
<ACCEPTANCE-DATETIME>20060426103738
ACCESSION NUMBER:		0000842023-06-000023
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060425
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060426
DATE AS OF CHANGE:		20060426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHNE CORP /MN/
		CENTRAL INDEX KEY:			0000842023
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				411427402
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17272
		FILM NUMBER:		06779859

	BUSINESS ADDRESS:	
		STREET 1:		614 MCKINLEY PL N E
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
		BUSINESS PHONE:		6123798854

	MAIL ADDRESS:	
		STREET 1:		614 MCKINLEY PLACE NE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8.txt
<DESCRIPTION>8-K
<TEXT>
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                FORM 8-K

                              CURRENT REPORT

                  PURSUANT TO SECTION 13 OR 15(d) OF THE
                     SECURITIES EXCHANGE ACT OF 1934

    Date of report (Date of earliest event reported): April 25, 2006

                            TECHNE CORPORATION
             (Exact Name of Registrant as Specified in Charter)


       Minnesota                     0-17272             41-1427402
(State or Other Jurisdiction       (Commission         I.R.S. Employer
of Incorporation)                  File Number)      Identification No.)

                614 Mckinley Place NE
                   Minneapolis, MN                       55413
       (Address of Principal Executive Offices)       (Zip Code)

     Registrant's telephone number, including area code:  (612) 379-8854

                              Not Applicable
      (Former Name or Former Address, if changed since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any
of the following provisions:

/ /   Written communications pursuant to Rule 425 under the Securities Act
      17 CFR 230.425)

/ /   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

/ /   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

/ /   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>



Item 2.02  Results of Operations and Financial Condition

A copy of the press release issued by Techne Corporation on April 25, 2006,
describing the results of operations for the quarter and nine months ended
March 31, 2006 and its financial condition as of March 31, 2006, is
attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and nine months
ended March 31, 2006 which has been included on Techne Corporation's website
(www.techne-corp.com), is attached hereto as Exhibit 99.2.

The information in this Form 8-K and the Exhibits attached hereto shall not
be deemed "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference
in any filing under the Securities Act of 1933 or the Exchange Act, except as
expressly set forth by specific reference in such filing.


Item 9.01 Financial Statements and Exhibits

     (d) Exhibits

99.1 Press Release dated April 25, 2006.

99.2 Segment information for the quarter and nine months
       ended March 31, 2006.






                            SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated: April 26, 2006                 TECHNE CORPORATION
                                      By: /s/ Thomas E. Oland
                                      ---------------------------
                                      Name: Thomas E. Oland
                                      Title: President and Chief
                                        Executive Officer



                          EXHIBIT INDEX

    Exhibit No. Description
    ----------- -----------
       99.1     Press release of Techne Corporation dated April 26, 2006.

       99.2     Segment information for Techne Corporation for the quarter
                and nine months ended March 31, 2006.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>release406.txt
<DESCRIPTION>PRESS RELEASE DATED 4/25/06
<TEXT>
             TECHNE CORPORATION RELEASES UNAUDITED THIRD QUARTER
                       RESULTS FOR FISCAL YEAR 2006

Minneapolis/April 25, 2006/--Techne Corporation's (NASDAQ: TECH) consolidated
net earnings increased 10.3% to $20.3 million and its earnings per diluted
share increased 15.6% to $.52 for the quarter ended March 31, 2006 compared
with $18.4 million and $.45 per diluted share for the quarter ended March 31,
2005. For the nine months ended March 31, 2006, Techne's consolidated net
earnings increased 13.2% to $53.9 million and its earnings per diluted share
increased 18.3% to $1.36 compared with $47.6 million and $1.15 per diluted
share for the nine months ended March 31, 2005.

Consolidated net earnings and diluted earnings per share for the periods
ended March 31, 2006 were negatively impacted by the decline in exchange
rates used to convert R&D Europe results from British pound sterling to U.S.
dollars and stock option related compensation expense from the adoption of
Financial Accounting Standards Board (FASB) Statement of Accounting Standards
No. 123 (Revised 2004), Share-Based Payments (SFAS No. 123R). The
acquisitions of Fortron Bio Science, Inc. and BiosPacific, Inc. on July 1,
2005 and an accelerated stock buyback transaction ("ASB") on March 1, 2005
had positive impacts on current year reported amounts.  The impact of these
items on comparable net earnings and diluted earnings per share is summarized
as follows:

                                 Periods Ended March 31, 2006
                        ---------------------------------------------------
                             Third Quarter          Fiscal Year to Date
                        ------------------------- -------------------------
                           Net    % of Net Diluted    Net   % of Net Diluted
                         Earnings   Sales   EPS    Earnings   Sales     EPS
                         -------- -------- ------- -------- -------- -------
                         ($000's)                  ($000's)
Net earnings as
 Reported                 $20,347   37.1%   $0.52   $53,862   35.8%   $1.36
 Stock option expense(1)     111     0.2%      --     1,060    0.7%    0.03
 Foreign exchange (1)        323     0.6%    0.01       676    0.4%    0.02
 Earnings from
   acquisitions (1)         (103)   (0.2%)     --      (386)  (0.2%)  (0.01)
 ASB                                        (0.03)                    (0.08)
                         -------- -------- ------- -------- -------- -------
                          $20,678   37.7%    $0.49  $55,212   36.7%   $1.32

Periods ended 3/31/05     $18,439   38.5%   $0.45   $47,565   36.3%   $1.15
Change                      12.1%           11.1%     16.1%           14.8%

    (1) Net of income taxes

Consolidated net sales for the three and nine months ended March 31, 2006
were $54.8 million and $150.6 million, respectively.  This was an increase of
14.3% and 14.8% from the three and nine months ended March 31, 2005,
respectively.  R&D Systems' Biotechnology Division net sales for the three
and nine months ended March 31, 2006 were $34.0 million and $92.7 million,
increases of 10.8% and 13.8%, respectively, as compared to prior-year
periods.  Approximately $600,000 of the increase in Biotechnology Division
net sales for the quarter ended March 31, 2006 was the result of price
increases.  R&D Europe's net sales for the three and nine months ended March
31, 2006 were $14.5 million and $39.5 million, increases of 7.1% and 5.5%,
respectively, as compared to prior-year periods.  In British pound sterling,
R&D Europe's net sales increased 15.8% and 12.3% for the three and nine
months ended March 31, 2006, respectively, as compared to prior-year periods.
R&D Systems' Hematology Division net sales for the three months ended March
31, 2006 were $3.7 million, an increase of 1.3% as compared to the quarter
ended March 31, 2005.  Hematology sales for the nine months were $11.0
million, a decrease of 9.6% from the same period in fiscal 2005, mainly as a
result of a large OEM customer changing to a new primary vendor in January
2005.  Included in net sales for the three and nine months ended March 31,
2006 was $2.6 million and $7.3 million, respectively, of net sales from
Fortron Bio Science, Inc. and BiosPacific, Inc., which were acquired
effective July 1, 2005.

                                 Periods Ended March 31, 2006
                        ---------------------------------------------------
 ($000's)                    Third Quarter          Fiscal Year to Date
                        ------------------------- -------------------------
                           2006    2005    Change     2006    2005   Change
                         -------- -------- ------- -------- -------- -------
Net sales as reported    $54,813  $47,935   14.3%  $150,551 $131,101   14.8%
 Foreign exchange          1,170             2.4%     2,525             1.9%
 Acquisitions             (2,559)           (5.3%)   (7,339)           (5.6%)
                         -------- -------- -------  -------- -------- -------
                         $53,424  $47,935   11.4%  $145,737 $131,101   11.1%

Consolidated gross margins were 77.9% for the third quarter of fiscal 2006 as
compared to 77.7% for the second quarter of fiscal 2006. For the nine months
ended March 31, 2006, consolidated gross margins were 77.5%.  Excluding
Fortron and BiosPacific, gross margins for the quarter ended March 31, 2006
were 80.3% compared to 80.9% in the third quarter of fiscal 2005, and 79.8%
for the nine-month period ended March 31, 2006 compared to 79.4% for the nine
months ended March 31, 2005. Combined gross margins for Fortron and
BiosPacific operations of 29.7% and 33.2% for the quarter and nine months
ended March 31, 2006, respectively, were negatively affected by expensing of
inventory on hand at the acquisition date that was recorded at fair value as
determined by purchase accounting.

Selling, general and administrative expenses as a percent of net sales
increased to  14.2% for the nine months ended March 31, 2006 primarily due to
$1.5 million of stock option expense from the adoption of SFAS No. 123R in
fiscal 2006.  Excluding the impact of adopting SFAS No. 123R, selling,
general and administrative expense as a percent of net sales decreased to
12.3% from 13.3% for the three months ended March 31, 2006 and 2005,
respectively, and to 13.2% from 14.0% in the nine month periods ended March
31, 2006 and 2005, respectively.  As a result of adopting SFAS No. 123R,
estimated total compensation expense of approximately $1.6 million or $.03
per diluted share is anticipated for fiscal 2006 of which approximately
$100,000 remains to be expensed in the last three months of the fiscal year.

The dollar increases in selling, general and administrative expenses were
also impacted by the acquisitions of Fortron and BiosPacific.

                                 Periods Ended March 31, 2006
                        ---------------------------------------------------
 ($000's)                    Third Quarter          Fiscal Year to Date
                        ------------------------- -------------------------
                           2006    2005    Change     2006    2005   Change
                         -------- -------- ------- -------- -------- -------
S,G&A as reported          $6,901   $6,379   8.2%   $21,335  $18,303  16.6%
 Stock option expense        (140)          (2.2%)   (1,516)          (8.3%)
 Acquisitions                (302)          (4.7%)     (976)          (5.3%)
                         -------- -------- ------- -------- -------- -------
                           $6,459   $6,379   1.3%   $18,843  $18,303   3.0%

The Company allocated approximately $12.8 million to goodwill and $7.1
million to other intangible assets arising from the acquisition of Fortron
and BiosPacific. The intangible assets, mainly technologies, trade names and
customer and supplier relationships, are being amortized over lives of one to
eight years and amortization expense of $272,000 and $815,000 was recorded
for the quarter and nine months ended March 31, 2006, respectively, related
to these assets.

In April 2006, the Company made an additional $9 million investment in
ChemoCentryx, Inc. (CCX) in the form of a convertible note subject to the
limitation that the Company's holdings in CCX will not exceed 19.9% of CCX
voting shares.

Forward Looking Statements:
This earnings release contains forward-looking statements within the meaning
of the Private Litigation Reform Act.  These statements, including our
expectations as to the estimated compensation expense resulting from stock
option expensing, involve risks and uncertainties that may affect the actual
results of operations.  The following important factors, among others, have
affected and, in the future, could affect the Company's actual results: the
integration of the recent acquisitions, the introduction and acceptance of
new biotechnology and hematology products, the levels and particular
directions of research by the Company's customers, the impact of the growing
number of producers of biotechnology research products and related price
competition, the retention of hematology OEM and proficiency survey business,
the impact of currency exchange rate fluctuations, and the costs and results
of research and product development efforts of the Company and of companies
in which the Company has invested or with which it has formed strategic
relationships.  For additional information concerning such factors, see the
Company's annual report on Form 10-K and quarterly reports on Form 10-Q as
filed with the Securities and Exchange Commission.  We undertake no
obligation to update or revise any forward-looking statements we make in this
release due to new information or future events.  Investors are cautioned not
to place undue emphasis on these statements.

Use of Non-GAAP Financial Measures:
The non-GAAP financial measures used in this press release quantify the
impact of adopting Financial Accounting Standards Board (FASB) Statement of
Accounting Standards No. 123 (Revised 2004), Share-Based Payments (SFAS No.
123R) related to the expensing of stock option compensation, the decline in
exchange rates used to convert R&D Europe results from British pounds to U.S.
dollars, the acquisitions of Fortron Bio Science, Inc. and BiosPacific, Inc
on July 1, 2005 and an accelerated stock buyback transaction ("ASB") on March
1, 2005 on reported net sales, selling, general and administrative expenses,
net earnings and earnings per share for the three and nine months ended March
31, 2006 as compared to the reported amounts for the same periods ended March
31, 2005.  These non-GAAP financial measures are not prepared in accordance
with generally accepted accounting principles and may be different from non-
GAAP financial measures used by other companies.  Non-GAAP financial measures
should not be considered as a substitute for, or superior to, measures of
financial performance prepared in accordance with GAAP.  We view these non-
GAAP financial measures to be helpful in assessing the Company's ongoing
operating results.  In addition, these non-GAAP financial measures facilitate
our internal comparisons to historical operating results and comparisons to
competitors' operating results.  We include these non-GAAP financial measures
in our earnings announcement because we believe they are useful to investors
in allowing for greater transparency related to supplemental information we
use in our financial and operational analysis.  Investors are encouraged to
review the reconciliations of the non-GAAP financial measures used in this
press release to their most directly comparable GAAP financial measures as
provided with the financial statements attached to this press release.

            *  *  *  *  *  *  *  *  *  *  *  *  *  *
Techne Corporation has two operating subsidiaries:  Research and Diagnostic
Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe,
Ltd. (R&D Europe) of Abingdon, England.  R&D Systems is a specialty
manufacturer of biological products.  R&D Systems has two subsidiaries,
Fortron Bio Science, Inc. (Fortron), located in Minneapolis, and BiosPacific,
Inc. (BiosPacific), located in Emeryville, California. Fortron develops and
manufactures antibodies and BiosPacific is a worldwide supplier of biologics
to manufacturers of in vitro diagnostic systems and immunodiagnostic kits.
R&D Europe is a distributor of biotechnology products.

Contact:  Greg Melsen, Chief Financial Officer
          Kathy Backes, Controller
          (612) 379-8854


                            TECHNE CORPORATION
                    CONSOLIDATED STATEMENTS OF EARNINGS
                    (In thousands, except per share data)
                                 (Unaudited)

                                        QUARTER ENDED     NINE MONTHS ENDED
                                      -----------------  -------------------
                                       3/31/06   3/31/05   3/31/06   3/31/05
                                      --------  --------  --------  --------
Net sales                             $ 54,813   $47,935  $150,551  $131,101
Cost of sales                           12,105     9,138    33,896    26,966
                                      --------  --------  --------  --------
Gross margin                            42,708    38,797   116,655   104,135

Operating expenses:
 Selling, general and administrative     6,901     6,379    21,335    18,303
 Research and development                4,761     4,631    14,052    13,938
 Amortization of intangible assets         492       305     1,476       916
                                      --------  --------  --------  --------
  Total operating expenses              12,154    11,315    36,863    33,157
                                      --------  --------  --------  --------
Operating income                        30,554    27,482    79,792    70,978
Other expense (income):
   Interest expense                        245       193       706       616
   Interest income                      (1,082)     (938)   (3,186)   (3,180)
   Other non-operating
     expense (income), net                 229       323       721     1,205
                                      --------  --------  --------  --------
  Total other expense (income)            (608)     (422)   (1,759)   (1,359)
                                      --------  --------  --------  --------
Earnings before income taxes            31,162    27,904    81,551    72,337
Income taxes                            10,815     9,465    27,689    24,772
                                      --------  --------  --------  --------
Net earnings                          $ 20,347  $ 18,439  $ 53,862  $ 47,565
                                      ========  ========  ========  ========
Earnings per share:
 Basic                                $   0.52  $   0.46  $   1.38  $   1.16
 Diluted                              $   0.52  $   0.45  $   1.36  $   1.15
Weighted average common
 shares outstanding:
  Basic                                 39,199    40,423    38,941    40,961
  Diluted                               39,425    40,896    39,631    41,423


                                     TECHNE CORPORATION
                                 CONSOLIDATED BALANCE SHEETS
                                       (In thousands)
                                          (Unaudited)

                                                  3/31/06    6/30/05
                                                 --------   --------
ASSETS
Cash and equivalents                             $ 83,596   $ 80,344
Short-term available-for-sale investments          16,166     16,790
Trade accounts receivable                          26,024     22,041
Other receivables                                     911      1,681
Inventory                                           9,605      7,758
Other current assets                                6,798      6,367
                                                 --------   --------
  Current assets                                  143,100    134,981
Available-for-sale investments                     64,540     41,871
Property and equipment, net                        88,203     89,036
Goodwill and intangible assets, net                32,521     14,138
Other non-current assets                           13,758     15,237
                                                 --------   --------
  Total assets                                   $342,122   $295,263
                                                 ========   ========
LIABILITIES
Current liabilities                              $ 13,262   $ 14,016
Long-term debt                                     12,490     13,378
Stockholders' equity                              316,370    267,869
                                                 --------   --------
  Total liabilities and equity                   $342,122   $295,263
                                                 ========   ========





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>segment306.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                        SEGMENT INFORMATION
               TECHNE CORPORATION AND SUBISIDARIES
         (in thousands of $'s, except per share data)

<TABLE>
<CAPTION>
                                                                     Increase (Decrease)
                                 Fiscal 2006                           From Fiscal 2005
                     ---------------------------------------- -------------------------------
                       First  Second  Third          Percent   First  Second   Third
                     Quarter Quarter Quarter   YTD   of Sales Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>
Sales                 47,709  48,029  54,813 150,551    100%    6,790   5,782   6,878  19,450
Cost of sales         11,096  10,695  12,105  33,896     23%    2,209   1,754   2,967   6,930
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Gross margin          36,613  37,334  42,708 116,655     77%    4,581   4,028   3,911  12,520

Gross margin
 percentage            76.7%   77.7%   77.9%   77.5%

SG&A expense           6,454   7,980   6,901  21,335     14%      820   1,690     522   3,032
R&D expense            4,717   4,574   4,761  14,052      9%       29     (45)    130     114
Amortization expense     492     492     492   1,476      1%      187     186     187     560
Interest expense         223     238     245     706    0.5%      (22)     60      52      90
Interest income         (974) (1,130) (1,082) (3,186)    (2%)      79      59    (144)     (6)
Other non-operating
 ex., net                211     281     229     721    0.5%     (255)   (135)    (94)   (484)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                      11,123  12,435  11,546  35,104     23%      838   1,815     653   3,306
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Earnings before
 income taxes         25,490  24,899  31,162  81,551    54%     3,743   2,213   3,258   9,214
Income taxes           8,489   8,385  10,815  27,689    18%       934     633   1,350   2,917
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                      17,001  16,514  20,347  53,862    36%     2,809   1,580   1,908   6,297
                     ======= ======= ======= ======= ======== ======= ======= ======= =======

Diluted earnings
 per share              0.43    0.42    0.52    1.36
Weighted average
 diluted shares
 outstanding          39,669  39,761  39,425  39,631

</TABLE>



                        BIOTECHNOLOGY  (1)
                      (in thousands of $'s)

<TABLE>
<CAPTION>
                                                                     Increase (Decrease)
                                 Fiscal 2006                           From Fiscal 2005
                     ---------------------------------------- -------------------------------
                       First  Second  Third          Percent   First  Second   Third
                     Quarter Quarter Quarter   YTD   of Sales Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>
Sales                 37,599  37,697  43,013 118,309   100%     6,908   7,625   6,675  21,208
Intersegment sales    (5,299) (6,555) (6,396)(18,250)            (495) (1,351)   (798) (2,644)
                     ------- ------- ------- -------          ------- ------- ------- -------
                      32,300  31,142  36,617 100,059            6,413   6,274   5,877  18,564

Cost of sales          8,470   8,147   9,125  25,742    22%     2,359   2,077   2,757   7,193
Intersegment sales    (5,323) (6,140) (6,478)(17,941)            (567)   (930)   (999) (2,496)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                       3,147   2,007   2,647   7,801            1,792   1,147   1,758   4,697

Gross margin          29,153  29,135  33,970  92,258    78%     4,621   5,127   4,119  13,867

Gross margin
 percentage            77.5%   78.4%   78.8%   78.2%

SG&A expense           3,639   4,194   4,199  12,032    10%       666     779     487   1,932
R&D expense            4,532   4,404   4,593  13,529    11%        32     (26)    161     167
Amortization expense     492     492     492   1,476     1%       187     186     187     560
Interest, net           (268)   (373)   (285)   (926)    --       146     191      35     372
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                       8,395   8,717   8,999  26,111    22%     1,031   1,130     870   3,031
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Pretax result         20,758  20,418  24,971  66,147    56%     3,590   3,997   3,249  10,836
                     ======= ======= ======= ======= ======== ======= ======= ======= =======
</TABLE>

(1) Fiscal 2006 includes R&D Systems' Biotechnology Division,
Fortron Bio Science, Inc., and BiosPacific, Inc.


                         R&D SYSTEMS EUROPE
                       (in thousands of British pounds)

<TABLE>
<CAPTION>
                                                                     Increase (Decrease)
                                 Fiscal 2006                           From Fiscal 2005
                     ---------------------------------------- -------------------------------
                       First  Second  Third          Percent   First  Second   Third
                     Quarter Quarter Quarter   YTD   of Sales Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>
Sales                  6,690   7,529   8,256  22,475    100%      610     721   1,125   2,456
Cost of sales          3,292   3,765   4,191  11,248     50%      361     632     966   1,959
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Gross margin           3,398   3,764   4,065  11,227     50%      249      89     159     497

Gross margin
 percentage            50.8%   50.0%   49.2%   50.0%

SG&A expense           1,004   1,185   1,070   3,259     14%       54      24      48     126
Interest income         (326)   (329)   (342)   (997)    (4%)     (72)    (66)    (62)   (200)
Exchange loss/(gain)      15      26     (49)     (8)     --      (11)     70     (65)     (6)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                         693     882     679   2,254     10%      (29)     28     (79)    (80)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Pretax result          2,705   2,882   3,386   8,973     40%      278      61     238     577
                     ======= ======= ======= ======= ======== ======= ======= ======= =======

</TABLE>
                        R&D SYSTEMS EUROPE
                     (in thousands of $'s)

<TABLE>
<CAPTION>
                                                                     Increase (Decrease)
                                 Fiscal 2006                           From Fiscal 2005
                     ---------------------------------------- -------------------------------
                       First  Second  Third          Percent   First  Second   Third
                     Quarter Quarter Quarter   YTD   of Sales Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>
Sales                 11,875  13,106  14,496  39,477    100%      856     242     953   2,051
Cost of sales          5,844   6,554   7,358  19,756     50%      532     636   1,232   2,400
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Gross margin           6,031   6,552   7,138  19,721     50%      324    (394)   (279)   (349)

Gross margin
 percentage            50.8%   50.0%   49.2%   50.0%

SG&A expense           1,782   2,059   1,879   5,720     14%       60    (135)    (60)   (135)
Interest income         (579)   (572)   (600) (1,751)    (4%)    (119)    (75)    (69)   (263)
Exchange loss (gain)      28      46     (87)    (13)     --      (19)    128    (116)     (7)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                       1,231   1,533   1,192   3,956     10%      (78)    (82)   (245)   (405)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Pretax result          4,800   5,019   5,946  15,765     40%      402    (312)    (34)     56
                     ======= ======= ======= ======= ======== ======= ======= ======= =======
</TABLE>


                           HEMATOLOGY
                      (in thousands of $'s)

<TABLE>
<CAPTION>
                                                                     Increase (Decrease)
                                 Fiscal 2006                           From Fiscal 2005
                     ---------------------------------------- -------------------------------
                       First  Second  Third          Percent   First  Second   Third
                     Quarter Quarter Quarter   YTD   of Sales Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>
Sales                  3,534   3,781   3,700  11,015    100%     (479)   (734)     48  (1,165)
Cost of sales          2,105   2,134   2,100   6,339     58%     (115)    (29)    (23)   (167)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Gross margin           1,429   1,647   1,600   4,676     42%     (364)   (705)     71    (998)

Gross margin
 percentage            40.4%   43.6%   43.2%   42.5%

SG&A expense             384     424    441    1,249     11%      (25)    (12)    (64)   (101)
R&D expense              185     170    168      523      5%       (3)    (19)    (31)    (53)
Interest, net            (37)    (50)   (40)    (127)    (2%)      19      27       4      50
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
                         532     544     569   1,645     14%       (9)     (4)    (91)   (104)
                     ------- ------- ------- ------- -------- ------- ------- ------- -------
Pretax result            897   1,103   1,031   3,031     28%     (355)   (701)    162    (894)
                     ======= ======= ======= ======= ======== ======= ======= ======= =======

</TABLE>


                        CORPORATE AND OTHER (2)
                          (in thousands of $'s)

<TABLE>
<CAPTION>
                                                            Increase (Decrease)
                                 Fiscal 2006                  From Fiscal 2005
                     ------------------------------- -------------------------------
                       First  Second  Third           First  Second   Third
                     Quarter Quarter Quarter   YTD   Quarter Quarter Quarter   YTD
                     ------- ------- ------- ------- ------- ------- ------- -------
<S>                  <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>
Interest income           90     135     157     382      48      84     114     246
Rental income            342     337     287     966     323     284     (31)    576
                     ------- ------- ------- ------- ------- ------- ------- -------
                         432     472     444   1,348     371     368      83     822

SG&A expense             649   1,303     382   2,334     119   1,058     159   1,336
Interest expense         223     238     245     706      59      60      52     171
Other-Hemerus losses      82      82      83     247       8       9      (2)     15
Other-Building expenses  443     490     520   1,453      79      12      (7)     84
                     ------- ------- ------- ------- ------- ------- ------- -------
                       1,397   2,113   1,230   4,740     265   1,139     202   1,606
                     ------- ------- ------- ------- ------- ------- ------- -------
Pretax result           (965) (1,641)   (786) (3,392)    106    (771)   (119)   (784)
                     ======= ======= ======= ======= ======= ======= ======= =======
</TABLE>

(2) Unallocated corporate expenses and
Techne's share of losses by Hemerus Medical, LLC.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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