-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KeoUTsOY15t2efti5RvaxX1XblD8/W5CTh+YQW8SI6It6EypP18JWOX30ukqWcYA
 LKILmw9UIeWTel2FvwfiGg==

<SEC-DOCUMENT>0000842023-06-000046.txt : 20061027
<SEC-HEADER>0000842023-06-000046.hdr.sgml : 20061027
<ACCEPTANCE-DATETIME>20061027100633
ACCESSION NUMBER:		0000842023-06-000046
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20061025
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061027
DATE AS OF CHANGE:		20061027

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:		061167462

	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>k8q1.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): October 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 October 25, 2006,
describing the results of operations for the quarter ended
September 30, 2006 and its financial condition as of September 30, 2006, is
attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter
ended September 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 October 25, 2006.

99.2 Segment information for the quarter ended September 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: October 25, 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 October 25, 2006.

       99.2     Segment information for Techne Corporation for the quarter
                ended September 30, 2006.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>press1006.txt
<DESCRIPTION>PRESS RELEASE DATED 10/25/2006
<TEXT>

             TECHNE CORPORATION RELEASES UNAUDITED FIRST QUARTER
                        RESULTS FOR FISCAL YEAR 2007

Minneapolis/October 25, 2006/--Techne Corporation's (NASDAQ: TECH)
consolidated net earnings for the quarter ended September 30, 2006 increased
15.5% to $19.6 million and its earnings per diluted share increased 16.3% to
$0.50 compared with $17.0 million and $.43 per diluted share for the quarter
ended September 30, 2005.  The improvement in results was mainly due to
increased consolidated net sales and improved gross margin percentages.

Consolidated net sales for the quarter ended September 30, 2006 were $52.4
million, an increase of 9.7% from the quarter ended September 30, 2005.
Biotechnology net sales for the quarter ended September 30, 2006 were $35.9
million, an increase of 11.2% from the quarter ended September 30, 2005.
Approximately $700,000 of the increase in biotechnology net sales for the
quarter was the result of price increases.  R&D Europe's net sales for the
quarter ended September 30, 2006 were $12.9 million, an increase of 8.9% from
the first quarter of the prior year.  In British pound sterling, R&D Europe's
net sales increased 2.7% from the same quarter of the prior year.  Hematology
net sales for the quarter ended September 30, 2006 were $3.5 million, a
decrease of 0.9% as compared to the quarter ended September 30, 2005.

Consolidated gross margins were 78.5% for the quarter ended September 30,
2006 compared to 76.7% for the quarter ended September 30, 2005.
Biotechnology gross margins were 79.6% for the quarter ended September 30,
2006 compared to 77.5% for the quarter ended September 30, 2005, mainly as a
result of changes in product mix. Biotechnology gross margins were also
affected by purchase accounting related to inventory on hand at the
acquisition date of Fortron and BiosPacific in fiscal 2006.  Included in cost
of sales for the quarters ended September 30, 2006 and 2005 were $291,000 and
$575,000, respectively, related to inventory purchase accounting.

Consolidated net earnings and diluted earnings per share for the quarter
ended September 30, 2006 were impacted slightly by the change in exchange
rates from the quarter ended September 30, 2006, used to convert R&D Europe
results from British pound sterling to U.S. dollars.  The change in exchange
rates increased consolidated net earnings approximately $206,000 for the
quarter ended September 30, 2006.

In September 2006, the Company invested $7.2 million for an 18% equity
interest in Nephromics, LLC.  Nephromics has licensed technology related to
the diagnosis of preeclampsia and has sub-licensed the technology to several
major diagnostic companies for the development of diagnostic assays.

The Company is currently considering paying off its $13.1 million mortgage
debt during the quarter ended December 31, 2006.  The interest rate on the
mortgage is at a floating rate, which is currently at 7.8%.  Interest expense
for the quarter ended September 30, 2006 was $268,000. The mortgage note has
a 5% prepayment penalty.  The Company estimates that prepayment of the
mortgage would result in a reduction in diluted earnings per share of
approximately $.01 in the quarter of payment.

Forward Looking Statements:
This earnings release contains forward-looking statements within the meaning
of the Private Litigation Reform Act.  These statements, including the
possibility of prepaying the mortgage and the associated financial impact,
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
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.

                  *  *  *  *  *  *  *  *  *  *  *  *  *  *
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
                                                          -----------------
                                                          9/30/06   9/30/05
                                                          -------   -------
Net sales                                                 $52,351   $47,709
Cost of sales                                              11,237    11,096
                                                          -------   -------
Gross margin                                               41,114    36,613
Operating expenses:
 Selling, general and administrative                        7,067     6,454
 Research and development                                   4,855     4,717
 Amortization of intangible assets                            403       492
                                                          -------   -------
  Total operating expenses                                 12,325    11,663
                                                          -------   -------
Operating income                                           28,789    24,950
Other expense (income):
 Interest expense                                             268       223
 Interest income                                           (1,676)     (974)
 Other non-operating expense (income), net                    485       211
                                                          -------   -------
  Total other expense (income)                               (923)     (540)
                                                          -------   -------
Earnings before income taxes                               29,712    25,490
Income taxes                                               10,081     8,489
                                                          -------   -------
Net earnings                                              $19,631   $17,001
                                                          =======   =======
Earnings per share:
 Basic                                                    $  0.50   $  0.44
 Diluted                                                  $  0.50   $  0.43
Weighted average common shares outstanding:
 Basic                                                     39,379    38,754
 Diluted                                                   39,469    39,669



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

                                                         9/30/06     6/30/06
                                                        ---------   ---------
ASSETS
Cash and equivalents                                    $  97,827   $  89,634
Short-term available-for-sale investments                  22,704      19,212
Trade accounts receivable                                  24,466      23,769
Other receivables                                           1,218       1,309
Inventory                                                   8,982       9,024
Other current assets                                        7,286       6,874
                                                        ---------   ---------
  Current assets                                          162,483     149,822
Available-for-sale investments                             76,596      77,660
Property and equipment, net                                89,418      88,772
Goodwill and intangible assets, net                        31,618      32,021
Other non-current assets                                   29,090      22,237
                                                        ---------   ---------
  Total assets                                          $ 389,205   $ 370,512
                                                        =========   =========
LIABILITIES
Current liabilities                                     $  15,606   $  17,966
Long-term debt                                             11,902      12,198
Stockholders' equity                                      361,697     340,348
                                                        ---------   ---------
  Total liabilities and equity                          $ 389,205   $ 370,512
                                                        =========   =========






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg906.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                             SEGMENT INFORMATION
                     TECHNE CORPORATION AND SUBISIDARIES
                 (in thousands of $'s, except per share data)



                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                  First       Percent           First
                                 Quarter      Of Sales         Quarter
                                 -------      --------         -------
Sales                             52,351          100%           4,642
Cost of sales                     11,237           21%             141
                                 -------      --------         -------
Gross margin                      41,114           79%           4,501

Gross margin percentage            78.5%

SG&A expense                       7,067           13%             613
R&D expense                        4,855            9%             138
Amortization expense                 403            1%             (89)
Interest expense                     268            1%              45
Interest income                   (1,676)          (3%)           (702)
Other non-operating ex., net         485            1%             274
                                 -------      --------         -------
                                  11,402           22%             279
                                 -------      --------         -------
Earnings before income taxes      29,712           57%           4,222
Income taxes                      10,081           20%           1,592
                                 -------      --------         -------
                                  19,631           37%           2,630
                                 =======      ========         =======

Diluted earnings per share           .50
Weighted average diluted
 shares outstanding               39,469




                             BIOTECHNOLOGY  (1)
                           (in thousands of $'s)
                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                  First       Percent           First
                                 Quarter      Of Sales         Quarter
                                 -------      --------         -------
Sales                             41,621         100%            4,022
Intersegment sales                (5,699)                         (400)
                                 -------      --------         -------
                                  35,922                         3,622

Cost of sales                      8,482          20%               12
Intersegment sales                (5,524)                         (201)
                                 -------      --------         -------
                                   2,958                          (189)

Gross margin                      32,964          80%            3,811

Gross margin percentage            79.6%

SG&A expense                       4,013          10%              374
R&D expense                        4,675          11%              143
Amortization expense                 403           1%              (89)
Interest, net                       (595)         (1%)            (327)
                                 -------      --------         -------
                                   8,496          21%              101
                                 -------      --------         -------
Pretax result                     24,468          59%            3,710
                                 =======      ========         =======

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


                             R&D SYSTEMS EUROPE
                   (in thousands of British pound sterling)
                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                  First       Percent           First
                                 Quarter      Of Sales         Quarter
                                 -------      --------         -------
Sales                              6,870         100%              180
Cost of sales                      3,285          48%               (7)
                                 -------      --------         -------
Gross margin                       3,585          52%              187

Gross margin percentage            52.2%

SG&A expense                       1,074          16%               70
Interest income                     (410)         (6%)             (84)
Exchange loss/(gain)                  78           1%               63
                                 -------      --------         -------
                                     742          11%               49
                                 -------      --------         -------
Pretax result                      2,843          41%              138
                                 =======      ========         =======


                             R&D SYSTEMS EUROPE
                            (in thousands of $'s)
                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                  First       Percent           First
                                 Quarter      Of Sales         Quarter
                                 -------      --------         -------
Sales                             12,927         100%            1,052
Cost of sales                      6,181          48%              337
                                 -------      --------         -------
Gross margin                       6,746          52%              715

Gross margin percentage            52.2%

SG&A expense                       2,020          16%              238
Interest income                     (771)         (6%)            (192)
Exchange loss                        147           1%              119
                                 -------      --------         -------
                                   1,396          11%              165
                                 -------      --------         -------
Pretax result                      5,350          41%              550
                                 =======      ========         =======



                                  HEMATOLOGY
                             (in thousands of $'s)
                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                  First       Percent           First
                                 Quarter      Of Sales         Quarter
                                 -------      --------         -------
Sales                              3,502         100%              (32)
Cost of sales                      2,098          60%               (7)
                                 -------      --------         -------
Gross margin                       1,404          40%              (25)

Gross margin percentage            40.1%

SG&A expense                         398          11%               14
R&D expense                          180           5%               (5)
Interest, net                        (81)         (2%)             (44)
                                 -------      --------         -------
                                     497          14%              (35)
                                 -------      --------         -------
Pretax result                        907          26%               10
                                 =======      ========         =======




                           CORPORATE AND OTHER (2)
                            (in thousands of $'s)
                                                        Increase (Decrease)
                                      Fiscal 2007            From Fiscal 2006
                                 ---------------------  ---------------------
                                         First                  First
                                        Quarter                Quarter
                                        -------                -------
Interest income                             229                    139
Rental income                               299                    (43)
                                        -------                -------
                                            528                     96

SG&A expense                                636                    (13)
Interest expense                            268                     45
Other-Building expenses                     510                     67
Other-Hemerus losses                        127                     45
                                        -------                -------
                                          1,541                    144
                                        -------                -------
Pretax result                            (1,013)                   (48)
                                        =======                =======


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