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<SEC-DOCUMENT>0000842023-09-000037.txt : 20091028
<SEC-HEADER>0000842023-09-000037.hdr.sgml : 20091028
<ACCEPTANCE-DATETIME>20091028091113
ACCESSION NUMBER:		0000842023-09-000037
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20091028
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091028
DATE AS OF CHANGE:		20091028

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:		091140609

	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 28, 2009

                            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 28,
2009, describing the results of operations for the quarter
ended September 30, 2009 and its financial condition as of September 30,
2009, is attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter
ended September 30, 2009 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 28, 2009.

         99.2 Segment information for the quarter ended September 30, 2009.






                            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 28, 2009               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 28, 2009.

       99.2     Segment information for Techne Corporation for the quarter
                ended September 30, 2009.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>release909.txt
<DESCRIPTION>PRESS RELEASE DATED OCTOBER 28, 2009
<TEXT>

              TECHNE CORPORATION RELEASES UNAUDITED FIRST QUARTER
                        RESULTS FOR FISCAL YEAR 2010

Minneapolis/October 28, 2009/-- Techne Corporation's (NASDAQ: TECH)
consolidated net earnings for the quarter ended September 30, 2009 decreased
6.4% to $26.8 million or $.72 per diluted share compared with $28.6 million
or $.74 per diluted share for the quarter ended September 30, 2008.  The
decline in net earnings was mainly due to foreign currency fluctuations,
decreased consolidated net sales and lower interest income.  Foreign currency
fluctuations and general economic conditions continued to have a negative
impact on consolidated net sales and earnings in the quarter ended September
30, 2009. The change in exchange rates used to convert foreign currencies
(primarily British pound sterling and euros) to U.S. dollars reduced net
earnings by $566,000 ($.01 per diluted share) for the quarter ended September
30, 2009 as compared to the same prior-year period.

Consolidated net sales for the quarter ended September 30, 2009 were $66.5
million, a 4.0% decrease from the quarter ended September 30, 2008.
Consolidated net sales were negatively affected by the strength of the U.S.
dollar as compared to foreign currencies. Excluding the effect of changes in
foreign currency exchange rates, consolidated net sales decreased 2.2% for
the quarter ended September 30 from the comparable prior-year period.

Biotechnology net sales, which include sales by R&D Systems' Biotechnology
Division, R&D Systems China and BiosPacific, were $44.0 million for the
quarter ended September 30, 2009, a decrease of 4.6% from the quarter ended
September 30, 2008.  The Company attributes the lower sales growth rate to
continued customer caution in a time of economic uncertainty and the
exceptionally strong growth rate of 18.7% in the first quarter of fiscal 2009
as compared to the same quarter in fiscal 2008. North American biotechnology
sales to industrial pharmaceutical and biotechnology customers declined
approximately 12.8% during the first quarter of fiscal 2010 as compared to
the first quarter of fiscal 2009. Biotechnology sales to North American
academic customers and Pacific Rim distributors each grew about 3.9% in the
first quarter of fiscal 2010. Biotechnology sales in China grew 30.1% during
the first quarter of fiscal 2010 compared to the same prior-year period.

R&D Europe's net sales for the quarter ended September 30, 2009 were $17.8
million, a decrease of 5.8% from the same prior-year period.  R&D Europe's
net sales increased 0.8% for the quarter ended September 30, 2009 when
measured at currency rates in effect in the comparable prior period.
Hematology net sales for the quarter ended September 30, 2009 were $4.7
million, an increase of 9.9% compared to the quarter ended September 30,
2008.

Consolidated gross margins were 80.6% for the quarter ended September 30,
2009 compared to 81.1% for the quarter ended September 30, 2008. The decrease
in gross margin percent in the quarter was primarily caused by lower gross
margins in Europe resulting from comparatively unfavorable exchange rates.
The consolidated gross margin percent for the quarter ended September 30,
2009 increased from the quarter ended June 30, 2009 gross margin percentage
of 77.4% as a result of higher gross margins in Europe resulting from
comparatively favorable exchange rates and an improvement in Hematology gross
margins due to higher sales volume.

Selling, general and administrative expenses for the quarter ended September
30, 2009 decreased $802,000 (9.1%) from the quarter ended September 30, 2009.
The decrease in selling, general and administrative expenses from the
comparable prior-year period was the result of lower profit sharing expense
of $635,000 and the effect of the change in exchange rates used to convert
foreign expenses to U.S. dollars of  $198,000.

Interest income decreased $1.7 million for the quarter ended September 30,
2009 from the comparable prior-year period primarily as a result of lower
rates of return on cash and available-for-sale investments.

The effective tax rate for the quarter ended September 30, 2009 was 32.6%
compared to 33.4% for the quarter ended September 30, 2008.  The U.S. credit
for research and development expired at the end of calendar 2007 and was not
renewed until the quarter ended December 31, 2008, resulting in a higher
effective tax rate for the quarter ended September 30, 2008.

Forward Looking Statements:

Our press releases may contain forward-looking statements within the meaning
of the Private Litigation Reform Act. Such statements 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,
general economic conditions, 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 our press releases 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
                                                  -----------------
                                                  9/30/09   9/30/08
                                                  -------   -------
Net sales                                         $66,534   $69,324
Cost of sales                                      12,901    13,086
                                                  -------   -------
Gross margin                                       53,633    56,238
                                                  -------   -------
Operating expenses:
  Selling, general and administrative               8,038     8,840
  Research and development                          6,154     5,910
  Amortization of intangible assets                   240       240
                                                  -------   -------
      Total operating expenses                     14,432    14,990
                                                  -------   -------
Operating income                                   39,201    41,248

Other income (expense):
  Interest income                                   1,168     2,887
  Other non-operating expense, net                   (662)   (1,187)
                                                  -------   -------
      Total other income                              506     1,700
                                                  -------   -------
Earnings before income taxes                       39,707    42,948
Income taxes                                       12,935    14,355
                                                  -------   -------
Net earnings                                      $26,772   $28,593
                                                  =======   =======
Earnings per share:
 Basic                                            $  0.72   $  0.74
 Diluted                                          $  0.72   $  0.74
Weighted average common shares outstanding:
 Basic                                             37,245    38,624
 Diluted                                           37,339    38,747



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

                                                  9/30/09   6/30/09
                                                 --------  --------
ASSETS
Cash and equivalents                             $174,757  $160,940
Short-term available-for-sale investments          52,518    41,947
Trade accounts receivable                          30,334    29,516
Other receivables                                   1,391     1,637
Inventory                                          12,468    11,269
Other current assets                               10,416    10,158
                                                  -------   -------
  Current assets                                  281,884   255,467
                                                  -------   -------

Available-for-sale investments                     52,612    61,863
Property and equipment, net                        98,806   100,133
Goodwill and intangible assets, net                27,832    28,072
Other non-current assets                           25,912    26,470
                                                  -------   -------
  Total assets                                   $487,046  $472,005
                                                  =======   =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities                              $ 16,040  $ 15,523
Stockholders' equity                              471,006   456,482
                                                  -------   -------
  Total liabilities and stockholders' equity     $487,046  $472,005
                                                  =======   =======


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>segment909.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                         SEGMENT INFORMATION
               TECHNE CORPORATION AND SUBISIDARIES
                        (in thousands of $'s, except per share data)

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                              ------------------   -------------------
                               First    Percent         First
                              Quarter   Of Sales       Quarter
                              -------   --------       -------
Sales                          66,534      100%         (2,790)
Cost of sales                  12,901       19%           (185)
                              -------   --------       -------
Gross margin                   53,633       81%         (2,605)

Gross margin percentage         80.6%

SG&A expense                    8,038       12%           (802)
R&D expense                     6,154       10%            244
Amortization expense              240        --             --
Interest income                (1,168)      (2%)         1,719
Other non-operating ex., net      662        1%           (525)
                              -------   --------       -------
                               13,926       21%            636
                              -------   --------       -------
Earnings before income taxes   39,707       60%         (3,241)
Income taxes                   12,935       20%         (1,420)
                              -------   --------       -------
                               26,772       40%         (1,821)
                              =======   ========       =======
Diluted earnings per share        .72
Weighted average diluted
 shares outstanding            37,339




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

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                              ------------------   -------------------
                               First    Percent         First
                              Quarter   Of Sales       Quarter
                              -------   --------       -------
Sales                          51,696      100%         (2,203)
Intersegment sales             (7,668)                      94
                              -------                  -------
                               44,028                   (2,109)

Cost of sales                   9,885       19%           (362)
Intersegment sales             (7,598)                    (137)
                              -------                  -------
                                2,287                     (499)

Gross margin                   41,741       81%         (1,610)

Gross margin percentage         80.9%

SG&A expense                    4,734        9%           (407)
R&D expense                     5,956       12%            239
Amortization expense              240        --             --
Interest, net                    (771)      (1%)           313
Other expense                       2        --              4
                              -------   --------       -------
                               10,161       20%            149
                              -------   --------       -------
Pretax result                  31,580       61%         (1,759)
                              =======   ========       =======

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




                                R&D SYSTEMS EUROPE
                               (in thousands of Br. pound's)

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                              ------------------   -------------------
                               First    Percent         First
                              Quarter   Of Sales       Quarter
                              -------   --------       -------
Sales                          10,881       100%           706
Cost of sales                   5,061        47%           801
                              -------   --------       -------
Gross margin                    5,820        53%           (95)

Gross margin percentage         53.5%

SG&A expense                    1,191        11%           (33)
Interest income                   (87)       (1%)          703
Exchange loss/(gain)              (89)       (1%)         (349)
                              -------   --------       -------
                                1,015         9%           321
                              -------   --------       -------
Pretax result                   4,805        44%          (416)
                              =======   ========       =======


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

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                              ------------------   -------------------
                               First    Percent         First
                              Quarter   Of Sales       Quarter
                              -------   --------       -------
Sales                          17,838       100%        (1,103)
Cost of sales                   8,295        47%           364
                              -------   --------       -------
Gross margin                    9,543        53%        (1,467)

Gross margin percentage         53.5%

SG&A expense                    1,952        11%          (331)
Interest income                  (143)       (1%)        1,328
Exchange loss/(gain)             (145)       (1%)         (621)
                              -------   --------       -------
                                1,664         9%           376
                              -------   --------       -------
Pretax result                   7,879        44%        (1,843)
                              =======   ========       =======



                                   HEMATOLOGY
                               (in thousands of $'s)

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                              ------------------   -------------------
                               First    Percent         First
                              Quarter   Of Sales       Quarter
                              -------   --------       -------
Sales                           4,668       100%           422
Cost of sales                   2,319        50%           (50)
                              -------   --------       -------
Gross margin                    2,349        50%           472

Gross margin percentage         50.3%

SG&A expense                      370         8%           (66)
R&D expense                       198         4%             5
Interest, net                     (72)       (2%)           30
                              -------   --------       -------
                                  496        10%           (31)
                              -------   --------       -------
Pretax result                   1,853        40%           503
                              =======   ========       =======


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

                                                   Increase (Decrease)
                                 Fiscal 2010       From Fiscal 2009
                                 -----------       -------------------
                                    First                First
                                   Quarter             Quarter
                                   -------             -------
Interest income                        182                 (48)
Rental income                           81                 (18)
                                   -------             -------
                                       263                 (66)

SG&A expense                           982                   2
Other-Building expenses                548                  (5)
Other-Equity Investment losses         338                  79
                                   -------             -------
                                     1,868                  76
                                   -------             -------
Pretax result                       (1,605)               (142)
                                   =======             =======


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