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<SEC-DOCUMENT>0000842023-06-000035.txt : 20060808
<SEC-HEADER>0000842023-06-000035.hdr.sgml : 20060808
<ACCEPTANCE-DATETIME>20060808143810
ACCESSION NUMBER:		0000842023-06-000035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060808
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060808
DATE AS OF CHANGE:		20060808

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:		061012459

	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): August 8, 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 August 8, 2006,
describing the results of operations for the quarter and fiscal year ended
June 30, 2006 and its financial condition as of June 30, 2006, is
attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and fiscal year
ended June 30, 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 August 8, 2006.

99.2 Segment information for the quarter and fiscal year
       ended June 30, 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: August 8, 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 August 8, 2006.

       99.2     Segment information for Techne Corporation for the quarter
                and fiscal year ended June 30, 2006.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>press806.txt
<DESCRIPTION>PRESS RELEASE DATED 8/8/06
<TEXT>

          TECHNE CORPORATION RELEASES UNAUDITED FOURTH QUARTER
                   RESULTS FOR FISCAL YEAR 2006

Minneapolis/August 8, 2006/--Techne Corporation's (NASDAQ: TECH) consolidated
net earnings increased 10.9% to $73.4 million and its earnings per diluted
share increased 14.2% to $1.85 compared with $66.1 million and $1.62 per
diluted share for the fiscal year ended June 30, 2005.   For the quarter
ended June 30, 2006, Techne's consolidated net earnings increased 5.0% to
$19.5 million and its earnings per diluted share increased 4.3% to $.49 for
the quarter ended June 30, 2006 compared with $18.6 million and $.47 per
diluted share for the quarter ended June 30, 2005.

Consolidated net earnings and diluted earnings per share for the periods
ended June 30, 2006 were impacted by 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).  Consolidated net earnings and diluted earnings per
share for the fiscal year ended June 30, 2006 were also impacted by the
decline in exchange rates used to convert R&D Europe results from British
pound sterling 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 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 June 30, 2006
                      ----------------------------------------------------
	                  Fourth Quarter               Fiscal Year
                      -------------------------  -------------------------
                         Net   % of Net  Duluted   Net     % of Net Diluted
                       Earnings   Sales    EPS    Earnings   Sales   EPS
                       -------- -------- -------  -------- -------- -------
                       ($000's)                   ($000's)
Net earnings
  as reported           $19,489    37.4%   $0.49   $73,351    36.2%   $1.85
 Plus stock option
  expense (1)                85     0.2%      --     1,145     0.6%    0.03
 (Less) plus
  foreign exchange (1)      (17)      --      --       659     0.3%    0.02
 (Less) earnings from
  acquisitions) (1)        (129)   (0.2%)     --      (515)   (0.3%)  (0.01)
   ASB                                        --                      (0.08)
                       -------- -------- -------  -------- -------- -------
                        $19,428    37.4%   $0.49   $74,640    36.8%   $1.81

Periods ended 6/30/05   $18,567    39.0%   $0.47   $66,132    37.0%   $1.62
Change                     4.6%             4.3%     12.9%            11.7%

   (1) Net of income taxes

Consolidated net sales for the three months and fiscal year ended June 30,
2006 were $52.1 million and $202.6 million, respectively.  This was an
increase of 9.5% and 13.4% from the three months and fiscal year ended June
30, 2005, respectively.  R&D Systems' Biotechnology Division net sales for
the three months and fiscal year ended June 30, 2006 were $32.3 million and
$125.0 million, increases of 9.1% and 12.5%, respectively, as compared to
prior-year periods.  Approximately $670,000 and $1.3 million of the increase
in Biotechnology Division net sales for the quarter and fiscal year ended
June 30, 2006 was the result of price increases.  R&D Europe's net sales for
the three months ended June 30, 2006 were $13.5 million, a decrease of 3.0%
from the prior year, while net sales for the fiscal year ended June 30, 2006
were $53.0 million, an increase of 3.2% as compared to the prior year.  In
British pound sterling, R&D Europe's net sales decreased 3.9% in the fourth
quarter from the fourth quarter of the prior year, but increased 7.8% for the
fiscal year ended June 30, 2006. Compared to the prior year, R&D Systems
Europe had two fewer shipping days in the quarter ended June 30, 2006 due to
the timing of the European Easter holiday.  In addition, sales in Germany
declined 12.6% in the quarter ended June 30, 2006 as compared to the same
quarter last year, primarily due to a work stoppage by researchers which has
since been settled.  R&D Systems' Hematology Division net sales for the three
months ended June 30, 2006 were $4.2 million, an increase of 5.5% as compared
to the quarter ended June 30, 2005.  Hematology sales for the fiscal year
were $15.2 million, a decrease of 5.8% from the prior fiscal year, mainly as
a result of a large OEM customer changing to a new primary vendor in January
2005.  Included in consolidated net sales for the three months and fiscal
year ended June 30, 2006 was $2.0 million and $9.4 million, respectively, of
net sales from Fortron Bio Science, Inc. and BiosPacific, Inc., which were
acquired effective July 1, 2005.

                                     Periods Ended June 30
                        ----------------------------------------------------
 ($000's)                   Fourth Quarter            Fiscal Year
                        ------------------------- --------------------------
                           2006    2005    Change     2006    2005   Change
                        -------- -------- ------- --------- -------- -------
Net sales as reported    $52,066  $47,551    9.5%  $202,617 $178,652   13.4%
 Less foreign exchange       (86)           (0.2%)    2,440             1.3%
 Less acquisitions        (2,019)           (4.2%)   (9,351)           (5.2%)
                        -------- -------- ------- --------- -------- -------
                         $49,961  $47,551    5.1%  $195,706 $178,652    9.5%

Consolidated gross margins were 77.3% and 77.4% for the quarter and fiscal
year ended June 30, 2006, respectively.  Excluding Fortron and BiosPacific,
gross margins for the quarter ended June 30, 2006 were 78.9% compared to
79.3% in the fourth quarter of fiscal 2005, and 79.5% for the fiscal year
ended June 30, 2006 compared to 79.4% for the fiscal year ended June 30,
2005. Combined gross margins for Fortron and BiosPacific operations of 38.7%
and 34.4% for the quarter and fiscal year ended June 30, 2006, respectively,
were affected by  inventory on hand at the acquisition date that was recorded
at fair value as determined by purchase accounting.

Selling, general and administrative expenses increased $3.1 million for the
fiscal year ended June 30, 2006 primarily due to $1.6 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 12.8% from 13.7% for the fiscal years
ended June 30, 2006 and 2005, respectively.

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

                                     Periods Ended June 30
                        ----------------------------------------------------
 ($000's)                   Fourth Quarter            Fiscal Year
                        ------------------------- --------------------------
                           2006    2005    Change     2006    2005   Change
                        -------- -------- ------- --------- -------- -------
S,G&A as reported        $6,269   $6,173    1.5%   $27,604  $24,476   12.8%
 Less stock option
  expense                  (112)           (1.8%)   (1,628)           (6.7%)
 Less acquisitions         (279)           (4.5%)   (1,255)           (5.1%)
                        -------- -------- ------- --------- -------- -------
                         $5,878   $6,173   (4.8%)  $24,721  $24,476    1.0%

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 $271,000 and $1,086,000 was recorded
for the quarter and fiscal year ended June 30, 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.  In June 2006, approximately $4.3 million of the note was
converted into shares of CCX preferred stock.  The Company currently holds a
19.9% interest in CCX.


Forward Looking Statements:
This earnings release contains forward-looking statements within the meaning
of the Private Litigation Reform Act.  These statements 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 months and fiscal year
ended June 30, 2006 as compared to the reported amounts for the same periods
ended June 30, 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   FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/06  6/30/05  6/30/06   6/30/05
                                      -------  -------  --------  --------
Net sales                             $52,066  $47,551  $202,617  $178,652
Cost of sales                          11,822    9,847    45,718    36,813
                                      -------  -------  --------  --------
Gross margin                           40,244   37,704   156,899   141,839
Operating expenses:
 Selling, general and administrative    6,269    6,173    27,604    24,476
 Research and development               4,773    4,441    18,825    18,379
 Amortization of intangible assets        491      305     1,967     1,221
                                      -------  -------  --------  --------
  Total operating expenses             11,533   10,919    48,396    44,076
                                      -------  -------  --------  --------
Operating income                       28,711   26,785   108,503    97,763
Other expense (income):
 Interest expense                         258      206       964       822
 Interest income                       (1,522)    (929)   (4,708)   (4,109)
 Other non-operating
  expense (income), net                   363      (42)    1,084     1,163
                                      -------   ------  --------  --------
  Total other expense (income)           (901)    (765)   (2,660)   (2,124)
                                      -------  -------  --------  --------
Earnings before income taxes           29,612   27,550   111,163    99,887
Income taxes                           10,123    8,983    37,812    33,755
                                      -------  -------  --------  --------
Net earnings                          $19,489  $18,567  $ 73,351  $ 66,132
                                      =======  =======  ========  ========
Earnings per share:
 Basic                                $  0.50  $  0.48  $   1.88  $   1.64
 Diluted                              $  0.49  $  0.47  $   1.85  $   1.62
Weighted average common
 shares outstanding:
  Basic                                39,374   38,545    39,049    40,359
  Diluted                              39,487   39,396    39,594    40,920



                            TECHNE CORPORATION
                        CONSOLIDATED BALANCE SHEETS
                               (In thousands)
                                 (Unaudited)
                                                  6/30/06     6/30/05
                                                 ---------   ---------
ASSETS
Cash and equivalents                             $  89,634   $  80,344
Short-term available-for-sale investments           19,212      16,790
Trade accounts receivable                           23,769      22,041
Other receivables                                    1,309       1,681
Inventory                                            9,024       7,758
Other current assets                                 6,874       6,367
                                                 ---------   ---------
  Current assets                                   149,822     134,981
Available-for-sale investments                      77,660      41,871
Property and equipment, net                         88,772      89,036
Goodwill and intangible assets, net                 32,021      14,138
Other non-current assets                            22,237      15,237
                                                 ---------   ---------
  Total assets                                   $ 370,512   $ 295,263
                                                 =========   =========
LIABILITIES
Current liabilities                              $  17,966   $  14,016
Long-term debt                                      12,198      13,378
Stockholders' equity                               340,348     267,869
                                                 ---------   ---------
  Total liabilities and equity                   $ 370,512   $ 295,263
                                                 =========   =========






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>segment606.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   Fourth          Percent   First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    of Sales Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>
Sales              47,709  48,029  54,813  52,066 202,617    100%    6,790   5,782   6,878   4,515   23,965
Cost of sales      11,096  10,695  12,105  11,822  45,718     23%    2,209   1,754   2,967   1,975    8,905
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Gross margin       36,613  37,334  42,708  40,244 156,899     77%    4,581   4,028   3,911   2,540   15,060

Gross margin
 percentage         76.7%   77.7%   77.9%   77.3%   77.4%

SG&A expense        6,454   7,980   6,901   6,269  27,604     14%      820   1,690     522      96    3,128
R&D expense         4,717   4,574   4,761   4,773  18,825      9%       29     (45)    130     332      446
Amortization
 expense              492     492     492     491   1,967      1%      187     186     187     186      746
Interest expense      223     238     245     258     964      --      (22)     60      52      52      142
Interest income      (974) (1,130) (1,082) (1,522) (4,708)    (2%)      79      59    (144)   (593)    (599)
Other non-
 operating
  ex., net            211     281     229     363   1,084      --     (255)   (135)    (94)    405      (79)
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
                   11,123  12,435  11,546  10,632  45,736     22%      838   1,815     653     478    3,784
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Earnings before
 income taxes      25,490  24,899  31,162  29,612 111,163     55%    3,743   2,213   3,258   2,062   11,276
Income taxes        8,489   8,385  10,815  10,123  37,812     19%      934     633   1,350   1,140    4,057
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
                   17,001  16,514  20,347  19,489  73,351     36%    2,809   1,580   1,908    922    7,219
                  ======= ======= ======= ======= ======= ======== ======= ======= ======= ======= ========
</TABLE>
Diluted earnings
 per share           0.43    0.42    0.52    0.49    1.85
Weighted average
 diluted shares
 outstanding       39,669  39,761  39,425  39,487  39,594




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

<TABLE>
<CAPTION>
                                                                      Increase (Decrease)
                               Fiscal 2006                                 From Fiscal 2005
                  ------------------------------------------------ ----------------------------------------
                   First  Second  Third   Fourth          Percent   First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    of Sales Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>
Sales              37,599  37,697  43,013  40,076 158,385    100%    6,908   7,625   6,675   4,434   25,642
Intersegment sales (5,299) (6,555) (6,396) (5,711)(23,961)            (495) (1,351)   (798)    273   (2,371)
                  ------- ------- ------- ------- -------         -------- ------- ------- ------- --------
                   32,300  31,142  36,617  34,365 134,424            6,413   6,274   5,877   4,707   23,271

Cost of sales       8,470   8,147   9,125   8,597  34,339     22%    2,359   2,077   2,757   1,555    8,748
Intersegment sales (5,323) (6,140) (6,478) (5,757)(23,698)            (567)   (930)   (999)    240   (2,256)
                  ------- ------- ------- ------- ------- ------- -------- ------- ------- ------- --------
                    3,147   2,007   2,647   2,840  10,641            1,792   1,147   1,758   1,795    6,492

Gross margin       29,153  29,135  33,970  31,525 123,783     78%    4,621   5,127   4,119   2,912   16,779

Gross margin
 Percentage         77.5%   78.4%   78.8%   78.5%   78.3%

SG&A expense        3,639   4,194   4,199   3,410  15,442     10%      666     779     487      (7)   1,925
R&D expense         4,532   4,404   4,593   4,585  18,114     11%       32     (26)    161     338      505
Amortization
 expense              492     492     492     491   1,967      1%      187     186     187     186      746
Interest, net        (268)   (373)   (285)   (501) (1,427)    (1%)     146     191      35    (222)     150
                  ------- ------- ------- ------- ------- ------- -------- ------- ------- ------- --------
                    8,395   8,717   8,999   7,985  34,096     21%    1,031   1,130     870     295    3,326
                  ------- ------- ------- ------- ------- ------- -------- ------- ------- ------- --------
Pretax result      20,758  20,418  24,971  23,540  89,687     57%    3,590   3,997   3,249   2,617   13,453
                  ======= ======= ======= ======= ======= ======= ======== ======= ======= ======= ========
</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 pound sterling)

<TABLE>
<CAPTION>
                                                                      Increase (Decrease)
                               Fiscal 2006                                 From Fiscal 2005
                  ------------------------------------------------ ----------------------------------------
                   First  Second  Third   Fourth          Percent   First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    of Sales Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>
Sales               6,690   7,529   8,256   7,278  29,753     100%     610     721   1,125    (297)   2,159
Cost of sales       3,292   3,765   4,191   3,630  14,878      50%     361     632     966       8    1,967
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Gross margin        3,398   3,764   4,065   3,648  14,875      50%     249      89     159    (305)     192

Gross margin
 percentage         50.8%   50.0%   49.2%   50.1%   50.0%

SG&A expense        1,004   1,185   1,070   1,115   4,374      15%      54      24      48      18      144
Interest income      (326)   (329)   (342)   (369) (1,366)     (5%)    (72)    (66)    (62)    (62)    (262)
Exchange loss/
 (gain)                15      26     (49)     (9)    (17)      --     (11)     70     (65)     39       33
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
                      693     882     679     737   2,991      10%     (29)     28     (79)     (5)     (85)
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Pretax result       2,705   2,882   3,386   2,911  11,884      40%     278      61     238    (300)     277
                  ======= ======= ======= ======= ======= ======== ======= ======= ======= ======= ========
</TABLE>

                                                 R&D SYSTEMS EUROPE
                                                (in thousands of $'s)

<TABLE>
<CAPTION>
                                                                      Increase (Decrease)
                               Fiscal 2006                                 From Fiscal 2005
                  ------------------------------------------------ ----------------------------------------
                   First  Second  Third   Fourth          Percent   First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    of Sales Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>
Sales              11,875  13,106  14,496  13,477  52,954    100%      856     242     953    (412)   1,639
Cost of sales       5,844   6,554   7,358   6,723  26,479     50%      532     636   1,232      68    2,468
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Gross margin        6,031   6,552   7,138   6,754  26,475     50%      324    (394)   (279)   (480)    (829)

Gross margin
 percentage         50.8%   50.0%   49.2%   50.1%   50.0%

SG&A expense        1,782   2,059   1,879   2,064   7,784     15%       60    (135)    (60)     53      (82)
Interest income      (579)   (572)   (600)   (680) (2,431)    (5%)    (119)    (75)    (69)   (115)    (378)
Exchange loss/
 (gain)                28      46     (87)    (17)    (30)     --      (19)    128    (116)     71       64
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
                    1,231   1,533   1,192   1,367   5,323     10%      (78)    (82)   (245)      9     (396)
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Pretax result       4,800   5,019   5,946   5,387  21,152     40%      402    (312)    (34)   (489)    (433)
                  ======= ======= ======= ======= ======= ======= ======== ======= ======= ======= ========
</TABLE>


                                                      HEMATOLOGY
                                                 (in thousands of $'s)

<TABLE>
<CAPTION>
                                                                      Increase (Decrease)
                               Fiscal 2006                                 From Fiscal 2005
                  ------------------------------------------------ ----------------------------------------
                   First  Second  Third   Fourth          Percent   First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    of Sales Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>
Sales               3,534   3,781   3,700   4,224  15,239    100%     (479)   (734)     48     22      (945)
Cost of sales       2,105   2,134   2,100   2,259   8,598     56%     (115)    (29)    (23)   112       (55)
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Gross margin        1,429   1,647   1,600   1,965   6,641     44%     (364)   (705)     71     108     (890)

Gross margin
 percentage         40.4%   43.6%   43.2%   46.5%   43.6%

SG&A expense          384     424     441     376   1,625     11%      (25)    (12)    (64)    (82)    (183)
R&D expense           185     170     168     188     711      5%       (3)    (19)    (31)     (6)     (59)
Interest, net         (37)    (50)    (40)    (74)   (201)    (2%)      19      27       4     (36)      14
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
                      532     544     569     490   2,135     14%       (9)     (4)    (91)   (124)    (228)
                  ------- ------- ------- ------- ------- -------- ------- ------- ------- ------- --------
Pretax result         897   1,103   1,031   1,475   4,506     30%     (355)   (701)    162     232     (662)
                  ======= ======= ======= ======= ======= ======= ======== ======= ======= ======= ========
</TABLE>


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

<TABLE>
<CAPTION>
                                                                  Increase (Decrease)
                               Fiscal 2006                          From Fiscal 2005
                  --------------------------------------- ----------------------------------------
                   First  Second  Third   Fourth          First  Second  Third   Fourth
                  Quarter Quarter Quarter Quarter  YTD    Quarter Quarter Quarter Quarter   YTD
                  ------- ------- ------- ------- ------- ------- ------- ------- ------- --------
<S>               <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>     <C>
Interest income        90     135     157     267     649      48      84     114     220      466
Rental income         342     337     287     320   1,286     323     284     (31)    (40)     536
                  ------- ------- ------- ------- ------- ------- ------- ------- ------- --------
                      432     472     444     587   1,935     371     368      83     180    1,002

SG&A expense          649   1,303     382     419   2,753     119   1,058     159     132    1,468
Interest expense      223     238     245     258     964      59      60      52      52      223
Other-Building
  expenses            443     490     520     529   1,982      79      12      (7)    197      281
Other-Hemerus
  losses               82      82      83     171     418       8       9      (2)     97      112
                  ------- ------- ------- ------- ------- ------- ------- ------- ------- --------
                    1,397   2,113   1,230   1,377   6,117     265   1,139     202     478    2,084
                  ------- ------- ------- ------- ------- ------- ------- ------- ------- --------
Pretax result        (965) (1,641)   (786)   (790) (4,182)    106    (771)   (119)   (298)  (1,082)
                  ======= ======= ======= ======= ======= ======= ======= ======= ======= ========
	</TABLE>

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