<SEC-DOCUMENT>0000842023-11-000010.txt : 20110503
<SEC-HEADER>0000842023-11-000010.hdr.sgml : 20110503
<ACCEPTANCE-DATETIME>20110503084716
ACCESSION NUMBER:		0000842023-11-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110503
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110503
DATE AS OF CHANGE:		20110503

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:		11802985

	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): May 3, 2011

                            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 May 3,
2011, describing the results of operations for the quarter and nine months
ended March 31, 2011 and its financial condition as of March 31,
2011, is attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and nine months
ended March 31, 2011 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 May 3, 2011.

         99.2 Segment information for the quarter and nine months
              ended March 31, 2011.






                            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: May 3, 2011                    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 May 3, 2011.

       99.2     Segment information for Techne Corporation for the quarter
                and nine months ended March 31, 2011.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>release050311.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>


           TECHNE CORPORATION RELEASES UNAUDITED THIRD QUARTER
                  RESULTS FOR FISCAL YEAR 2011

Minneapolis/May 3, 2011/ Techne Corporation's (NASDAQ: TECH) consolidated
pretax net earnings for the quarter ended March 31, 2011 increased 9.5% to
$45.4 million compared with $41.4 million for the quarter ended March 31,
2010, mainly as a result of increased sales and foreign exchange transaction
gains, partially offset by increased selling, general and administrative
expenses. For the nine months ended March 31, 2011, Techne's consolidated
pretax net earnings increased 3.5% to $122.0 million compared with $117.8
million per share for the nine months ended March 31, 2010, primarily as a
result of increased sales and foreign exchange transaction gains.

Techne's consolidated net earnings for the quarter ended March 31, 2011
decreased 4.1% to $31.1 million or $0.84 per diluted share compared with
$32.4 million or $0.87 per diluted share for the quarter ended March 31,
2010.  For the nine months ended March 31, 2011, Techne's consolidated net
earnings increased 0.1% to $84.0 million or $2.26 per diluted share compared
to $83.9 million or $2.25 per diluted share for the nine months ended March
31, 2010.  The March 31, 2010 quarter and nine month results included a $4.7
million tax benefit, equating to $.12 per share, from a foreign exchange tax
loss on Techne's repatriation of 50 million pound sterling from R&D Systems
Europe to its U.S. based parent.

Consolidated net sales for the quarter and nine months ended March 31, 2011
were $76.3 million and $211.9 million, increases of 8.5% and 4.7%,
respectively, from the quarter and nine months ended March 31, 2010.
Consolidated net sales for the quarter were positively affected by a weaker
U.S. dollar as compared to foreign currencies for the quarter ended March 31,
2010.  Consolidated net sales for the nine months were negatively affected by
a stronger U.S. dollar as compared to foreign currencies for the nine months
ended March 31, 2010. Excluding the effect of changes in foreign currency
exchange rates, consolidated net sales increased 7.8% and 5.7% for the
quarter and nine months ended March 31, 2011, respectively, from the
comparable prior-year periods.

Biotechnology net sales, which include sales by R&D Systems' Biotechnology
Division, R&D Systems China and BiosPacific, were $49.9 million for the
quarter ended March 31, 2011, an increase of 8.1% from $46.2 million for the
quarter ended March 31, 2010.  North American biotechnology sales to
industrial pharmaceutical and biotechnology customers increased 9.9% during
the third quarter of fiscal 2011 as compared to the third quarter of fiscal
2010.  Biotechnology sales to academic customers, sales to Pacific Rim
distributors and sales in China grew 6.4%, 3.3% and 46.0%, respectively, in
the third quarter of fiscal 2011 as compared to the third quarter of fiscal
2010.  Biotechnology sales for the nine months ended March 31, 2011, were
$141.0 million, an increase of 6.3% from $132.6 million for the nine months
ended March 31, 2010.  North American biotechnology sales to industrial
pharmaceutical and biotechnology customers increased 5.7% during the nine
months ended March 31, 2011 as compared to the first nine months of fiscal
2010.  Biotechnology sales to academic customers, to Pacific Rim
distributors, and sales in China grew 7.7%, 2.4% and 25.3%, respectively, in
the first nine months of fiscal 2011.

R&D Europe's net sales for the quarter and nine months ended March 31, 2011
were $21.2 million and $56.2 million, increases of 10.5% and 0.8%,
respectively, from the same prior-year periods.  R&D Europe's net sales
increased 8.4% and 4.4% for the quarter and nine months ended March 31, 2011
when measured at currency rates in effect in the comparable prior-year
period. Hematology net sales for the quarter and nine months ended March 31,
2011 were $5.2 million and $14.7 million, increases of 4.3% and 5.4% from the
comparable prior-year periods.

Selling, general and administrative expenses for the quarter and nine months
ended March 31, 2011 increased $1.6 million (20.4%) and $439,000 (1.8%) from
the quarter and nine months ended March 31, 2010. The increase in selling,
general and administrative expense for the quarter and nine months resulted
primarily from increased profit sharing expense of $704,000 and $418,000,
respectively.

Foreign exchange transaction gains for the quarter and nine months ended
March 31, 2011 were $249,000 and $667,000, respectively, compared to foreign
exchange transaction losses of $372,000 and $329,000 for the quarter and nine
months ended March 31, 2010, respectively.

The effective tax rate for the quarter and nine months ended March 31, 2011
was 31.6% and 31.2% as compared to 21.8% and 28.8% for the same prior-year
periods. The effective rates for the prior year periods were abnormally low
due to the tax benefit received following repatriation of funds from the U.K.
to the U.S.  Excluding this benefit, the effective tax rates for the quarter
and nine months ended March 31, 2010 would have been 33.1% and 32.8% for the
quarter and nine months ended March 31, 2010, respectively, The improvement
in the effective tax rate in fiscal 2011 was the result of renewal of the
U.S. research and development credit and an increase in the deduction for
qualified production activities.

Under separate press releases, the Company has announced two acquisitions
subsequent to March 31, 2011.  On April 1, 2011, the Company, through its R&D
Systems and R&D Europe subsidiaries, acquired the assets of Boston Biochem,
Inc., a Massachusetts based company, and Boston Biochem Limited, a U.K. based
company.  Boston Biochem, Inc. is a leading developer and manufacturer of
innovative ubiquitin-related research products and Boston Biochem Limited was
its Euorpean distributor.  The two companies had combined product sales of
approximately $2.5 million in calendar 2010. The combined Boston Biochem
assets were acquired for approximately $8.0 million cash.

On April 28, 2011, the Company, through its R&D Systems and R&D Europe
subsidiaries, acquired 100% ownership of Tocris Holdings Limited and
Subsidiaries (Tocris).  Tocris is a U.K based holding company with a
development and manufacturing subsidiary located in Bristol, U.K. and a
distribution subsidiary located in Missouri.  Tocris is a leading supplier of
reagents for non-clinical life science research.  Tocris has a strong track
record of profitable, cash generative growth with calendar 2010 revenues of
approximately 11.7 million British pounds sterling ($18.2 million).  Tocris
was acquired for 75 million British pounds sterling (approximately $124
million) in cash.



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 three subsidiaries,
BiosPacific, Inc. (BiosPacific), located in Emeryville, California, Boston
Biochem, Inc., located in Cambridge, Massachusetts, 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. Boston Biochem is a leading developer and manufacturer
of ubiquitin-related research products. 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   NINE MONTHS ENDED
                                    ----------------  ------------------
                                    3/31/11  3/31/10   3/31/11   3/31/10
                                    -------  -------  --------  --------
Net sales                           $76,271  $70,278  $211,924  $202,333
Cost of sales                        15,833   14,399    46,292    40,629
                                    -------  -------  --------  --------
Gross margin                         60,438   55,879   165,632   161,704
                                    -------  -------  --------  --------
Operating expenses:
 Selling, general and administrative  9,233    7,666    25,150    24,711
 Research and development             6,297    6,325    19,519    18,870
 Amortization of intangible assets      170      240       511       720
                                    -------  -------  --------  --------
  Total operating expenses           15,700   14,231    45,180    44,301
                                    -------  -------  --------  --------
Operating income                     44,738   41,648   120,452   117,403
                                    -------  -------  --------  --------
Other income (expense):
 Interest income                      1,067    1,040     2,934     3,364
 Other non-operating expense, net      (421)  (1,249)   (1,376)   (2,922)
                                    -------  -------  --------  --------
  Total other (expense) income          646     (209)    1,558       442
                                    -------  -------  --------  --------
Earnings before income taxes         45,384   41,439   122,010   117,845
Income taxes                         14,321    9,051    38,039    33,964
                                    -------  -------  --------  --------
Net earnings                        $31,063  $32,388  $ 83,971  $ 83,881
                                    =======  =======  ========  ========
Earnings per share:
 Basic                              $  0.84  $  0.87  $   2.26  $   2.25
 Diluted                            $  0.84  $  0.87  $   2.26  $   2.25

Weighted average common
 shares outstanding:
  Basic                              37,119   37,292    37,084    37,263
  Diluted                            37,194   37,380    37,153    37,357



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

                                             3/31/11   6/30/10
                                            --------  --------
ASSETS
Cash and equivalents                        $158,628  $ 94,139
Short-term available-for-sale investments     55,270    44,672
Trade accounts receivable                     35,554    30,850
Other receivables                              1,960     1,532
Inventory                                     13,619    13,737
Other current assets                          11,695    16,110
                                            --------  --------
 Current assets                              276,726   201,040
                                            --------  --------

Available-for-sale investments               163,793   171,171
Property and equipment, net                   94,145    97,400
Goodwill and intangible assets, net           26,601    27,112
Other non-current assets                      21,554    22,093
                                            --------  --------
 Total assets                               $582,819  $518,816
                                            ========  ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities                         $ 16,542  $ 17,024
Stockholders' equity                         566,277   501,792
                                            --------  --------
 Total liabilities and stockholders' equity $582,819  $518,816
                                            ========  ========


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg311.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                              SEGMENT INFORMATION
                     TECHNE CORPORATION AND SUBISIDARIES
                  (in thousands of $'s, except per share data)

                                                       Increase (Decrease)
                           Fiscal 2011                  From Fiscal 2010
              ------------------------------------- -------------------------
               First  Second  Third         Percent First Second Third
                Qtr.   Qtr.    Qtr.   YTD   Of Sales Qtr.  Qtr.   Qtr.   YTD
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Sales         67,945  67,708  76,271 211,924  100%  1,411  2,187 5,993  9,591
Cost of sales 15,241  15,218  15,833  46,292   22%  2,340  1,889 1,434  5,663
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Gross margin  52,704  52,490  60,438 165,632  78%    (929)   298 4,559  3,928

Gross margin
 percentage    77.6%   77.5%   79.2%   78.2%

SG&A expense   7,552   8,365   9,233  25,150  12%    (486)  (642)1,567    439
R&D expense    6,619   6,603   6,297  19,519   8%     465    212   (28)   649
Amortization
 expense         170     171     170     511   --     (70)   (69)  (70)  (209)
Interest
 income         (847) (1,020) (1,067) (2,934) (1%)    321    136   (27)   430
Other non-oper-
 ating ex., net  257     698     421   1,376   1%    (405)  (313) (828)(1,546)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
              13,751  14,817  15,054  43,622  20%    (175)  (676)  614   (237)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Earnings before
 income taxes 38,953  37,673  45,384 122,010  58%    (754)   974 3,945  4,165
Income taxes  12,580  11,139  14,320  38,039  18%    (355)  (839)5,269  4,075
              ------  ------  ------ ------- ------ -----  ----- -----  -----
              26,373  26,534  31,064  83,971  40%    (399) 1,813(1,324)    90
              ======  ======  ====== ======= ====== =====  ===== =====  =====
Diluted earnings
 per share      0.71    0.71    0.84    2.26
Weighted average
 diluted shares
 outstanding  37,107  37,156  37,194  37,153




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

                                                       Increase (Decrease)
                           Fiscal 2011                  From Fiscal 2010
              ------------------------------------- -------------------------
               First  Second  Third         Percent First Second Third
                Qtr.   Qtr.    Qtr.   YTD   Of Sales Qtr.  Qtr.   Qtr.   YTD
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Sales         54,141  52,652  59,190 165,983  100%  2,445  1,949 4,954  9,348
Intersegment
 sales        (7,491) (8,217) (9,251)(24,959)         177     65(1,194)  (952)
              ------  ------  ------ -------        -----  ----- -----  -----
              46,650  44,435  49,939 141,024        2,622  2,014 3,760  8,396

Cost of sales 11,689  11,665  11,860  35,214   21%  1,804  1,539   701  4,044
Intersegment
 sales        (7,578) (8,251) (9,048)(24,877)          20   (498) (712)(1,190)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
               4,111   3,414   2,812  10,337        1,824  1,041   (11) 2,854

Gross margin  42,539  41,021  47,127 130,687   79%    798    973 3,771  5,542

Gross margin
 percentage    78.4%   77.8%   80.0%   78.8%

SG&A expense   4,583   4,780   5,691  15,054    9%   (151)  (276)1,066    639
R&D expense    6,421   6,379   6,104  18,904   12%    465    189   (23)   631
Amortization
 expense         170     171     170     511    --    (70)   (69)  (70)  (209)
Interest income (581)   (715)   (763) (2,059)  (1%)   190     57   (57)   190
Exchange loss/
 gain             (8)    (10)     (7)    (25)   --    (10)   (11)   (7)   (28)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
              10,585  10,605  11,195  32,385   20%    424   (110)  909  1,223
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Pretax result 31,954  30,416  35,932  98,302   59%    374  1,083 2,862  4,319
              ======  ======  ====== ======= ====== =====  ===== =====  =====

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



                              R&D SYSTEMS EUROPE
                         (in thousands of Br. pounds)

                                                       Increase (Decrease)
                           Fiscal 2011                  From Fiscal 2010
              ------------------------------------- -------------------------
               First  Second  Third         Percent First Second Third
                Qtr.   Qtr.    Qtr.   YTD   Of Sales Qtr.  Qtr.   Qtr.   YTD
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Sales         10,571  11,767  13,218  35,556  100%   (310)   305   922    917
Cost of sales  5,561   5,742   6,477  17,780   50%    500    454   653  1,607
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Gross margin   5,010   6,025   6,741  17,776   50%   (810)  (149)  269   (690)

Gross margin
 percentage    47.4%   51.2%   51.0%   50.0%

SG&A expense   1,188   1,274   1,356   3,818   11%     (3)   (44)   96     49
Interest income  (52)    (65)    (68)   (185)  (1%)    35     14     0     49
Exchange loss/
 (gain)         (323)     58    (150)   (415)  (1%)  (234)    (3) (387)  (624)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
                 813   1,267   1,138   3,218    9%   (202)   (33) (291)  (526)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Pretax result  4,197   4,758   5,603  14,558   41%   (608)  (116)  560   (164)
              ======  ======  ====== ======= ====== =====  ===== =====  =====


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

                                                       Increase (Decrease)
                           Fiscal 2011                  From Fiscal 2010
              ------------------------------------- -------------------------
               First  Second  Third         Percent First Second Third
                Qtr.   Qtr.    Qtr.   YTD   Of Sales Qtr.  Qtr.   Qtr.   YTD
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Sales         16,391  18,645  21,181  56,217  100% (1,447)  (130)2,020    443
Cost of sales  8,621   9,097  10,379  28,097   50%    326    433 1,308  2,067
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Gross margin   7,770   9,548  10,802  28,120   50% (1,773)  (563)  712 (1,624)

Gross margin
 percentage    47.4%   51.2%   51.0%   50.0%

SG&A expense   1,842   2,017   2,173   6,032   11%   (110)  (142)  206    (46)
Interest income  (81)   (103)   (108)   (292)  (1%)    62     25     0     87
Exchange loss/
 (gain)         (497)     97    (242)   (642)  (1%)  (352)    (2) (614)  (968)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
               1,264   2,011   1,823   5,098    9%   (400)  (119) (408)  (927)
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Pretax result  6,506   7,537   8,979  23,022   41% (1,373)  (444)1,120   (697)
              ======  ======  ====== ======= ====== =====  ===== =====  =====


                          HEMATOLOGY
                     (in thousands of $'s)

                                                       Increase (Decrease)
                           Fiscal 2011                  From Fiscal 2010
              ------------------------------------- -------------------------
               First  Second  Third         Percent First Second Third
                Qtr.   Qtr.    Qtr.   YTD   Of Sales Qtr.  Qtr.   Qtr.   YTD
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Sales          4,904   4,628   5,151  14,683  100%    236    303   213    752
Cost of sales  2,509   2,707   2,642   7,858   54%    190    415   137    742
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Gross margin   2,395   1,921   2,509   6,825   46%     46   (112)   76     10

Gross margin
 percentage    48.8%   41.5%   48.7%   46.5%

SG&A expense     328     336     438   1,102    7%    (42)   (30)   92     20
R&D expense      198     224     193     615    4%     --     23    (5)    18
Interest income  (53)    (66)    (69)   (188)  (1%)    19      6    (4)    21
              ------  ------  ------ ------- ------ -----  ----- -----  -----
                 473     494     562   1,529   10%    (23)    (1)   83     59
              ------  ------  ------ ------- ------ -----  ----- -----  -----
Pretax result  1,922   1,427   1,947   5,296   36%     69   (111)   (7)   (49)
              ======  ======  ====== ======= ====== =====  ===== =====  =====



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

                                                   Increase (Decrease)
                              Fiscal 2011           From Fiscal 2010
                 ------------------------------ ------------------------
                  First  Second  Third          First Second Third
                   Qtr.   Qtr.    Qtr.   YTD     Qtr.  Qtr.   Qtr.   YTD
                 ------  ------  ------ ------- -----  ----- -----  -----
Interest income     132     136     127     395   (50)   (48)  (34)  (132)
Rental income       123     138     114     375    42     23    31     96
                 ------  ------  ------ ------- -----  ----- -----  -----
                    255     274     241     770    (8)   (25)   (3)   (36)

SG&A expense        799   1,232     931   2,962  (183)  (194)  203   (174)
Other-Building
 expenses           556     531     586   1,673     8      1    (7)     2
Other-Equity
 Investment losses  329     218     198     745    (9)  (278) (169)  (456)
                 ------  ------  ------ ------- -----  ----- -----  -----
                  1,684   1,981   1,715   5,380  (184)  (471)   27   (628)
                 ------  ------  ------ ------- -----  ----- -----  -----
Pretax result    (1,429) (1,707) (1,474) (4,610)  176    446   (30)   592
                 ======  ======  ======  ====== =====  ===== =====  =====



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