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<SEC-DOCUMENT>0000842023-07-000036.txt : 20071024
<SEC-HEADER>0000842023-07-000036.hdr.sgml : 20071024
<ACCEPTANCE-DATETIME>20071024100601
ACCESSION NUMBER:		0000842023-07-000036
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071024
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071024
DATE AS OF CHANGE:		20071024

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:		071187089

	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>k8q.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 24, 2007

                            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 24,
2007, describing the results of operations for the quarter year ended
September 30, 2007 and its financial condition as of September 30, 2007,
is attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter ended September
30, 2007 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 24, 2007.

         99.2 Segment information for the quarter ended
              September 30, 2007.






                            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 24, 2007               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 24, 2007.

       99.2     Segment information for Techne Corporation for the quarter
                ended September 30, 2007.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>release1007.txt
<DESCRIPTION>EARNINGS RELEASE DATED OCTOBER 24, 2007
<TEXT>




            TECHNE CORPORATION RELEASES UNAUDITED FIRST QUARTER
                    RESULTS FOR FISCAL YEAR 2008

Minneapolis/October 24, 2007/--Techne Corporation's (NASDAQ: TECH)
consolidated net earnings for the quarter ended September 30, 2007
increased 17.5% to $23.1 million or $.58 per diluted share compared with
$19.6 million or $.50 per diluted share for the quarter ended September
30, 2006. Net earnings as a percentage of net sales improved from 37.5%
in the first quarter of last year to 39.8% for the quarter ended
September 30, 2007. The improvement in net earnings was mainly due to
increased consolidated net sales. The favorable impact on consolidated
net earnings of the change in exchange rates used to convert R&D Europe
results from British pounds to U.S. dollars was $403,000 ($.01 per
diluted share) for the quarter ended September 30, 2007.

Consolidated net sales for the quarter ended September 30, 2007 were
$58.0 million, an increase of 10.8% from the same prior-year quarter.
Consolidated net sales were favorably affected by the strength of the
British pound as compared to the U.S. dollar. Excluding the effect of
changes in foreign currency exchange rates, consolidated net sales
increased 8.6% for the quarter ended September 30, 2007 from the quarter
ended September 30, 2006.

Biotechnology net sales, which include sales by R&D Systems'
Biotechnology Division, R&D Systems China and BiosPacific, for the
quarter ended September 30, 2007 were $38.9 million, an increase of 8.2%
from the same prior-year quarter. R&D Europe's net sales for the quarter
were $15.4 million, an increase of 19.5% from the same prior-year
quarter. In British pound sterling, R&D Europe's net sales increased
10.7% for the quarter.  Hematology net sales for the quarter were $3.7
million, an increase of 4.4%.

Gross margins were 79.1% and 78.5% in the first quarters of fiscal 2008
and 2007, respectively. The increase in gross margins was due to higher
margins in Europe due to favorable exchange rates and changes in sales
mix as a result of higher sales growth in the Biotechnology Division as
compared to the sales growth in the lower margin Hematology Division.

Selling, general and administrative expenses for the quarter ended
September 30, 2007 increased $1.0 million (14.5%). The increase resulted
from the change in foreign currency exchange rates used to convert
British pounds to U.S. dollars ($170,000), increased profit sharing of
$205,000 and R&D China selling, general and administrative expenses of
$99,000.  The remainder of the increase was due mainly to annual wage
and salary increases.

The effective tax rate was 33.6% for the quarter ended September 30,
2007 as compared to 33.9% for the quarter ended September 30, 2006.
Without significant business developments, the Company expects its
fiscal 2008 effective income tax rate to range from approximately 33.5%
to 34.5%.

Forward Looking Statements:

This earnings release contains forward-looking statements within the meaning
of the Private Litigation Reform Act.  These statements, including the
Company's expectations as to income tax rates, 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,
BiosPacific, Inc. (BiosPacific), located in Emeryville, California and R&D
Systems China Co. Ltd., (R&D China), located in Shanghai, China.  BiosPacific
is a worldwide supplier of biologics to manufacturers of in vitro diagnostic
systems and immunodiagnostic kits. R&D China and R&D Europe distribute
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
                                             ----------------
                                             9/30/07  9/30/06
                                             -------  -------
Net sales                                    $57,987  $52,351
Cost of sales                                 12,104   11,237
                                             -------  -------
Gross margin                                  45,883   41,114
                                             -------  -------
Operating expenses:
  Selling, general and administrative          8,090    7,067
  Research and development                     5,181    4,855
  Amortization of intangible assets              288      403
                                             -------  -------
    Total operating expenses                  13,559   12,325
                                             -------  -------
Operating income                              32,324   28,789
                                             -------  -------
Other expense (income):
  Interest expense                                --      268
  Interest income                             (2,998)  (1,676)
  Other non-operating expense, net               569      485
                                             -------  -------
    Total other income                        (2,429)    (923)
                                             -------  -------
Earnings before income taxes                  34,753   29,712
Income taxes                                  11,681   10,081
                                             -------  -------
Net earnings                                 $23,072  $19,631
                                             =======  =======
Earnings per share:
  Basic                                      $  0.58  $  0.50
  Diluted                                    $  0.58  $  0.50
Weighted average common shares outstanding:
  Basic                                       39,489   39,379
  Diluted                                     39,587   39,469


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

                                             9/30/07   6/30/07
                                            --------  --------
ASSETS
Cash and equivalents                        $144,745  $135,485
Short-term available-for-sale investments     36,249    29,289
Trade accounts receivable                     30,673    29,559
Other receivables                              1,362     1,407
Inventory                                      9,281     8,757
Other current assets                           8,899     8,341
                                            --------  --------
  Current assets                             231,209   212,838
                                            --------  --------

Available-for-sale investments                97,851    91,433
Property and equipment, net                   93,385    91,535
Goodwill and intangible assets, net           29,879    30,167
Other non-current assets                      28,732    28,871
                                            --------  --------
  Total assets                              $481,056  $454,844
                                            ========  ========
LIABILITIES
Current liabilities                         $ 14,800  $ 17,193
Stockholders' equity                         466,256   437,651
                                            --------  --------
  Total liabilities and equity              $481,056  $454,844
                                            ========  ========


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg907.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                        SEGMENT INFORMATION
                 TECHNE CORPORATION AND SUBISIDARIES
               (in thousands of $'s, except per share data)

                                                        Increase (Decrease)
                                    Fiscal 2008           From Fiscal 2007
                                 ------------------     -------------------
                                  First     Percent            First
                                 Quarter   Of Sales           Quarter
                                 -------   --------     -------------------
Sales                             57,987      100%             5,636
Cost of sales                     12,104       21%               867
                                 -------   -------            ------
Gross margin                      45,883       79%             4,769

Gross margin percentage            79.1%

SG&A expense                       8,090       14%             1,023
R&D expense                        5,181        9%               326
Amortization expense                 288        -               (115)
Interest expense                       0        -               (268)
Interest income                   (2,998)      (5%)           (1,322)
Other non-operating expense,net      569        1%                84
                                 -------   -------            ------
                                  11,130       19%              (272)
                                 -------   -------            ------
Earnings before income taxes      34,753       60%             5,041
Income taxes                      11,681       20%             1,600
                                 -------   -------            ------
                                  23,072       40%             3,441
                                 =======   =======            ======
Diluted earnings per share           .58
Weighted average diluted
 shares outstanding               39,587




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

                                                        Increase (Decrease)
                                    Fiscal 2008           From Fiscal 2007
                                 ------------------     -------------------
                                  First     Percent            First
                                 Quarter   Of Sales           Quarter
                                 -------   --------     -------------------
Sales                             45,328      100%             3,707
Intersegment sales                (6,447)                       (748)
                                 -------                      ------
                                  38,881                       2,959

Cost of sales                      8,997       20%               515
Intersegment sales                (6,174)                       (650)
                                 -------                      ------
                                   2,823                        (135)
                                 -------   -------            ------
Gross margin                      36,058       80%             3,094

Gross margin percentage            80.2%

SG&A expense                       4,624       10%               611
R&D expense                        5,002       11%               327
Amortization expense                 288        1%              (115)
Interest, net                     (1,257)      (2%)             (662)
Exchange loss/(gain)                  34        --                34
                                 -------   -------            ------
                                   8,691       20%               195
                                 -------   -------            ------
Pretax result                     27,367       60%             2,899
                                 =======   =======            ======

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


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

                                                        Increase (Decrease)
                                    Fiscal 2008           From Fiscal 2007
                                 ------------------     -------------------
                                  First     Percent            First
                                 Quarter   Of Sales           Quarter
                                 -------   --------     -------------------
Sales                              7,605      100%               735
Cost of sales                      3,455       45%               170
                                 -------   -------            ------
Gross margin                       4,150       55%               565

Gross margin percentage            54.6%

SG&A expense                       1,114       15%                40
Interest income                     (683)      (9%)             (273)
Exchange loss/(gain)                 (96)      (1%)             (174)
                                 -------   -------            ------
                                     335        5%              (407)
                                 -------   -------            ------
Pretax result                      3,815       50%               972
                                 =======   =======            ======



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

                                                        Increase (Decrease)
                                    Fiscal 2008           From Fiscal 2007
                                 ------------------     -------------------
                                  First     Percent            First
                                 Quarter   Of Sales           Quarter
                                 -------   --------     -------------------
Sales                             15,449      100%             2,522
Cost of sales                      7,020       45%               839
                                 -------   -------            ------
Gross margin                       8,429       55%             1,683

Gross margin percentage            54.6%

SG&A expense                       2,262       15%               242
Interest income                   (1,387)      (9%)             (616)
Exchange loss/(gain)                (198)      (1%)             (345)
                                 -------   -------            ------
                                     677        5%              (719)
                                 -------   -------            ------
Pretax result                      7,752       50%             2,402
                                 =======   =======            ======



                              HEMATOLOGY
                         (in thousands of $'s)

                                                        Increase (Decrease)
                                    Fiscal 2008           From Fiscal 2007
                                 ------------------     -------------------
                                  First     Percent            First
                                 Quarter   Of Sales           Quarter
                                 -------   --------     -------------------
Sales                              3,657      100%               155
Cost of sales                      2,261       62%               163
                                 -------   -------            ------
Gross margin                       1,396       38%                (8)

Gross margin percentage            38.2%

SG&A expense                         467       13%                69
R&D expense                          179        5%                (1)
Interest, net                       (120)      (4%)              (39)
                                 -------   -------            ------
                                     526       14%                29
                                 -------   -------            ------
Pretax result                        870       24%               (37)
                                 =======   =======            ======



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

                                                    Increase (Decrease)
                                    Fiscal 2008      From Fiscal 2007
                                    -----------     -------------------
                                       First              First
                                      Quarter            Quarter
                                      -------            -------
Interest income                           234                  5
Rental income                              67               (232)
                                      -------            -------
                                          301               (227)

SG&A expense                              737                101
Interest expense                           --               (268)
Other-Building expenses                   544                 34
Other-Hemerus losses                      131                  4
Other-Nephromics losses                   125                125
                                      -------            -------
                                        1,537                 (4)
                                      -------            -------
Pretax result                          (1,236)              (223)
                                      =======            =======


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