<SEC-DOCUMENT>0000842023-11-000021.txt : 20110802
<SEC-HEADER>0000842023-11-000021.hdr.sgml : 20110802
<ACCEPTANCE-DATETIME>20110802090622
ACCESSION NUMBER:		0000842023-11-000021
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110802
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110802
DATE AS OF CHANGE:		20110802

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:		111002151

	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): August 2, 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 August 2,
2011, describing the results of operations for the quarter and fiscal year
ended June 30, 2011 and its financial condition as of June 30,
2011, is attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and fiscal year
ended June 30, 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 August 2, 2011.

         99.2 Segment information for the quarter and fiscal year
              ended June 30, 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: August 2, 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 August 2, 2011.

       99.2     Segment information for Techne Corporation for the quarter
                and fiscal year ended June 30, 2011.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>earningsrelease080211.txt
<DESCRIPTION>PRESS RELEASE DATED AUGUST 2, 2011
<TEXT>


       TECHNE CORPORATION RELEASES UNAUDITED FOURTH QUARTER
                 AND FISCAL YEAR 2011 RESULTS

Minneapolis/August 2, 2011/ Techne Corporation's (NASDAQ:TECH) financial
results for the fourth quarter and fiscal year ended June 30, 2011 include
the following highlights:

  Fourth quarter earnings grew 9.4% to $28.3 million or $.76 per diluted
  share.  Earnings for the quarter grew 21.2% to $31.6 million or $.85 per
  diluted share when adjusted for intangible asset amortization, costs
  recognized upon the sale of inventory that was written up to fair value as
  part of the acquisitions completed in the quarter and professional and
  other acquisition related costs.

    Fiscal year earnings grew 2.3% to $112 million or $3.02 per diluted
    share. Earnings for the fiscal year grew 9.9% to $116 million or $3.13
    per diluted share when adjusted for the above identified items and the
    tax benefit in fiscal 2010 from repatriation of cash.

  Net sales as reported grew 17.0% to $78.0 million for the quarter. Organic
  sales grew 6.5% in the quarter.

    Net sales as reported grew 7.8% to $290 million for the fiscal year.
    Organic sales grew 5.9% in the fiscal year.

Consolidated net earnings for the quarter and fiscal year ended June 30, 2011
were impacted by the acquisition of Boston Biochem, Inc. (Boston Biochem) on
April 1, 2011 and Tocris Holdings Limited (Tocris) on April 28, 2011,
including the cost recognized upon the sale of inventory that was written up
to fair value as part of the acquisitions, increased amortization of acquired
intangible assets, professional fees and other costs to complete the
transactions and an increase in the effective tax rate as a result of certain
acquisition costs not being deductible.  Increased sales and foreign exchange
transaction gains also helped to improve earnings.  Results for the prior
fiscal year 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
pounds sterling from R&D Systems Europe to its U.S. based parent.

Consolidated net sales for the quarter and fiscal year ended June 30, 2011
include $4.7 million of sales from the acquired companies.  A weaker U.S.
dollar as compared to foreign currencies improved sales by $2.3 million and
$466,000 in the quarter and fiscal year ended June 30, 2011, respectively,
from the comparable prior-year periods.

As a result of the acquisitions described above, the Company has revised its
segment reporting and will include the operations of R&D Systems'
Biotechnology Division, R&D Systems Europe, Tocris, R&D Systems China,
BiosPacific and Boston Biochem in its Biotechnology segment. R&D Systems'
Hematology Division operations will continue to be reported as the Company's
Hematology segment.

Biotechnology segment net sales were $73.0 million for the quarter ended June
30, 2011, an increase of 17.3% from $62.3 million for the quarter ended June
30, 2010.  Biotechnology net sales were $270 million for the fiscal year
ended June 30, 2011, an increase of 7.8% from $251 million for the fiscal
year ended June 30, 2010.  Biotechnology sales growth was 6.1% and 5.8% for
the quarter and fiscal year ended June 30, 2011, respectively, if the sales
from the acquisitions and foreign currency benefit are excluded.

Customer sales growth for the Biotechnology segment from the same prior-year
periods included:

                                        Period ended June 30, 2011
                                        --------------------------
                                         Quarter      Fiscal Year
                                        ----------    -----------
R&D Systems Biotechnology Division:
  Industrial, pharmaceutical
    and biotechnology                       2.3%          4.8%
  Academic                                  3.0%          6.4%
  Pacific Rim distributors                 10.2%          4.1%

R&D Europe:
  Reported                                 16.2%          4.4%
  In constant currency                      3.2%          4.1%

R&D China:
  Reported                                 28.1%         26.0%
  In constant currency                     22.2%         22.6%


Hematology net sales for the quarter and fiscal year ended June 30, 2011 were
$5.0 million and $19.7 million, increases of 11.9% and 7.0%, respectively,
from the comparable prior-year periods.

The gross margin percentage declined to 76.4% in the quarter ended June 30,
2011 from 79.1% in the comparable prior-year quarter due costs recognized
upon the sale of inventory that was written up to fair value as part of the
acquisitions and amortization of intangible assets.  Gross margins were 79.5%
and 79.3% for the quarters ended June 30, 2011 and 2010, respectively, if
such costs were excluded in both periods.

Selling, general and administrative expenses for the quarter and fiscal year
ended June 30, 2011 increased $3.0 million and $3.2 million from the quarter
and fiscal year ended June 30, 2010. The acquired businesses added $945,000
of selling, general and administrative expenses in the quarter and fiscal
year, excluding intangible amortization which increased $259,000 in the
quarter.  The increase in selling, general and administrative expense for the
quarter and fiscal year was also impacted by increased professional fees and
costs related to the acquisitions ($1.3 million and $1.7 million for the
quarter and fiscal year, respectively) and increased profit sharing expense
($388,000 and $805,000 for the quarter and fiscal year, respectively).

Foreign exchange transaction gains for the quarter and fiscal year ended June
30, 2011 were $177,000 and $844,000, respectively, compared to foreign
exchange transaction losses of $631,000 and $960,000 for the quarter and
fiscal year ended June 30, 2010, respectively.

The effective tax rate for the quarter and fiscal year ended June 30, 2011
was 34.1% and 31.9% as compared to 32.9% and 29.8% for the same prior-year
periods. The effective tax rate for the quarter and fiscal year were impacted
by non-deductible professional fees and other costs related to the
acquisitions, the renewal of the U.S. research and development credit and an
increase in the deduction for qualified production activities.  The effective
rates for the prior fiscal year 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 fiscal year ended June 30, 2010
would have been 32.8%.  Effective tax rates for fiscal 2012 are expected to
be 31% to 33%.


Forward Looking Statements:

Our press releases may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act. Such statements, including
the expected effective tax rate, 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 integration of the acquired companies, 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 section titled
"Risk Factors" in 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.

Use of Adjusted Financial Measures:

The adjusted financial measures used in this press release quantify the
impact the following events had on reported net sales, gross margin
percentages, selling, general and administrative expenses, effective tax
rates, net earnings and earnings per share for the quarter and fiscal year
ended June 30, 2011 as compared to the reported amounts for the same periods
ended June 30, 2010:

  - fluctuations in exchange rates used to convert transactions in foreign
    currencies (primarily the Euro, British pound sterling and Chinese
    yuan) to U.S. dollars,

  - the acquisitions of Boston Biochem on April 1, 2011 and Tocris on April
    28, 2011, including the impact of amortizing intangible assets and the
    recognition of costs upon the sale of inventory written up to fair
    value, and

  - the tax benefit received following repatriation of cash from the United
    Kingdom in fiscal 2010.

These adjusted financial measures are not prepared in accordance with
generally accepted accounting principles (GAAP) and may be different from
adjusted financial measures used by other companies.  Adjusted financial
measures should not be considered as a substitute for, or superior to,
measures of financial performance prepared in accordance with GAAP.  We view
these adjusted financial measures to be helpful in assessing the Company's
ongoing operating results.  In addition, these adjusted financial measures
facilitate our internal comparisons to historical operating results and
comparisons to competitors' operating results.  We include these adjusted
financial measures in our earnings announcement because we believe they are
useful to investors in allowing for greater transparency related to
supplemental information we use in our financial and operational analysis.
Investors are encouraged to review the reconciliations of the adjusted
financial measures used in this press release to their most directly
comparable GAAP financial measures as provided with the financial statements
attached to this press release.


                  *  *  *  *  *  *  *  *  *  *  *  *

Techne Corporation has two operating subsidiaries:  Research and Diagnostic
Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe,
Ltd. (R&D Europe) of Abingdon, England.  R&D Systems is a specialty
manufacturer of biological products.  R&D Systems has four subsidiaries:
BiosPacific, Inc. (BiosPacific), located in Emeryville, California, Boston
Biochem, Inc., located in Cambridge, Massachusetts, R&D Systems China Co.
Ltd., (R&D China), located in Shanghai, China and Tocris Cookson Inc.,
located in Saint Louis, Missouri.  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.  R&D Europe has two subsidiaries: Tocris Holdings
Limited (Tocris) of Bristol, England and R&D Systems GmbH, a German sales
operation.  Tocris is a leading supplier of reagents for non-clinical life
science research.

Contact:  Greg Melsen, Chief Financial Officer
          Kathy Backes, Controller
          (612) 379-8854



                        TECHNE CORPORATION
               CONSOLIDATED STATEMENTS OF EARNINGS
              (In thousands, except per share data)
                            (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Net sales                           $78,038  $66,714  $289,962  $269,047
Cost of sales                        18,407   13,943    65,025    54,898
                                    -------  -------  --------  --------
Gross margin                         59,631   52,771   224,937   214,149

Operating expenses:
  Selling, general and
    administrative                   10,562    7,595    35,897    32,700
  Research and development            6,466    6,251    25,985    25,121
                                    -------  -------  --------  --------
    Total operating expenses         17,028   13,846    61,882    57,821
                                    -------  -------  --------  --------
Operating income                     42,603   38,925   163,055   156,328
Other income (expense):
  Interest income                       818    1,011     3,752     4,375
  Other non-operating expense, net     (450)  (1,335)   (1,826)   (4,257)
                                    -------  -------  --------  --------
    Total other income (expense)        368     (324)    1,926       118
                                    -------  -------  --------  --------
Earnings before income taxes         42,971   38,601   164,981   156,446
Income taxes                         14,640   12,706    52,679    46,670
                                    -------  -------  --------  --------
Net earnings                        $28,331  $25,895  $112,302  $109,776
                                    =======  =======  ========  ========
Earnings per share:
  Basic                             $  0.76  $  0.70  $   3.03  $   2.95
  Diluted                           $  0.76  $  0.69  $   3.02  $   2.94

Weighted average common
  shares outstanding:
   Basic                             37,140   37,233    37,098    37,255
   Diluted                           37,230   37,314    37,172    37,347



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

                                                      6/30/11   6/30/10
                                                     --------  --------
ASSETS
Cash and equivalents                                 $ 77,613  $ 94,139
Short-term available-for-sale investments              63,200    44,672
Trade accounts receivable                              35,914    30,850
Other receivables                                       1,946     1,532
Inventory                                              44,906    13,737
Other current assets                                    6,838    16,110
                                                     --------  --------
  Current assets                                      230,417   201,040
                                                     --------  --------

Available-for-sale investments                        131,988   171,171
Property and equipment, net                            95,398    97,400
Goodwill and intangible assets, net                   138,915    27,112
Other non-current assets                               20,952    22,093
                                                     --------  --------
  Total assets                                       $617,670  $518,816
                                                     ========  ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities                                  $ 18,188  $ 17,024
Deferred taxes                                         13,360         0
Stockholders' equity                                  586,122   501,792
                                                     --------  --------
  Total liabilities and stockholders' equity         $617,670  $518,816
                                                     ========  ========


                          TECHNE CORPORATION
                   RECONCILIATION of ORGANIC SALES
                           (In thousands)
                            (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Net sales                           $78,038  $66,714  $289,962  $269,047
Organic sales adjustments:
  Acquisitions                       (4,683)       0    (4,683)        0
  Impact of foreign currency
    fluctuations                     (2,328)       0      (466)        0
                                    -------  -------  --------  --------
Organic sales                       $71,027  $66,714  $284,813  $269,047
                                    =======  =======  ========  ========



                          TECHNE CORPORATION
          RECONCILIATION of NET EARNINGS and EARNINGS per SHARE
                 (In thousands, except per share data)
                             (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Net earnings                        $28,331  $25,895  $112,302  $109,776
Identified adjustments:
  Costs recognized upon sale
    of acquired inventory             1,835        0     1,835         0
  Amortization of intangibles           954      240     1,465       960
  Professional fees and other
    acquisition related costs         1,256        0     1,735         0
  Tax benefit from repatriation
    of cash                               0        0         0    (4,660)
                                    -------  -------  --------  --------
                                      4,045      240     5,035    (3,700)
  Tax impact of adjustments            (797)     (86)   (1,119)     (346)
                                    -------  -------  --------  --------
                                      3,247      154     3,915    (4,046)
                                    -------  -------  --------  --------
Net earnings - Adjusted for
  identified items                  $31,578  $26,049  $116,217  $105,730
                                    =======  =======  ========  ========

Earnings per share -
  Diluted - Adjusted                $  0.85  $  0.70  $   3.13  $   2.83




                        TECHNE CORPORATION
            RECONCILIATION of GROSS MARGIN PERCENTAGES
                           (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Gross margin percentage               76.4%    79.1%     77.6%     79.6%
Identified adjustments:
  Costs recognized upon sale
    of acquired inventory              2.4%     0.0%      0.6%      0.0%
  Amortization of intangibles          0.7%     0.2%      0.3%      0.2%
                                    -------  -------  --------  --------
Gross margin percentage - Adjusted    79.5%    79.3%     78.5%     79.8%

                                    =======  =======  ========  ========


                       TECHNE CORPORATION
       RECONCILIATION of SELLING, GENERAL and ADMINISTRATIVE EXPENSES
                         (In thousands)
                          (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Selling, general and
  administrative expenses           $10,562  $ 7,595  $ 35,896  $ 32,700
Identified adjustments:
  Acquired companies' expense,
    excluding intangible
    amortization                       (945)       0      (945)        0
  Professional fees and other
    acquisition related costs        (1,256)       0    (1,735)        0
  Amortization of intangibles          (390)   ( 131)     (575)     (525)
                                    -------  -------  --------  --------
Selling, general and administrative
  expenses - Adjusted               $ 7,971  $ 7,464  $ 32,641  $ 32,175
                                    =======  =======  ========  ========


                       TECHNE CORPORATION
             RECONCILIATION of EFFECTIVE TAX RATE
                           (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Effective tax rate                    34.1%    32.9%     31.9%     29.8%
Identified adjustments:
  Tax benefit from repatriation
    of cash                            0.0%     0.0%      0.0%      3.0%
  Non deductible professional
    fees and acquisition costs        (1.1%)    0.0%     (0.2%)     0.0%
                                    -------  -------  --------  --------
Effective tax rate - Adjusted         33.0%    32.9%     31.7%     32.8%
                                    =======  =======  ========  ========


                      TECHNE CORPORATION
          RECONCILIATION of INTANGIBLE AMORTIZATION
                        (In thousands)
                         (Unaudited)

                                      QUARTER ENDED   FISCAL YEAR ENDED
                                    ----------------  ------------------
                                    6/30/11  6/30/10   6/30/11   6/30/10
                                    -------  -------  --------  --------
Amortization of intangible assets
  was included in:
    Cost of goods sold              $   564  $   109  $    890  $    435
    Selling, general and
      administrative expenses           390      131       575       525
                                    -------  -------  --------  --------
Total amortization of
  intangible assets                 $   954  $   240  $  1,465  $    960
                                    =======  =======  ========  ========


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg63011.txt
<DESCRIPTION>SEGMENT RESULTS FOR 6/30/11
<TEXT>
                               SEGMENT INFORMATION
                    TECHNE CORPORATION AND SUBISIDARIES
                    (in thousands of $'s, except per share data)

<CAPTION>
<TABLE>
                                 Fiscal 2011                        Increase (Decrease) From Fiscal 2010
                ------------------------------------------------- --------------------------------------
                 First  Second   Third  Fourth           Percent   First  Second   Third  Fourth
                Quarter Quarter Quarter Quarter    YTD   Of Sales Quarter Quarter Quarter Quarter   YTD
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
<S>             <C>     <C>     <C>     <C>     <C>      <C>      <C>     <C>     <C>     <C>     <C>
Sales            67,945  67,708  76,271  78,038  289,962   100%     1,411   2,187   5,993  11,324  20,915
Cost of sales    15,350  15,327  15,941  18,407   65,025    22%     2,340   1,889   1,434   4,464  10,127
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------

Gross margin     52,595  52,381  60,330  59,631  224,937    78%      (929)    298   4,559   6,860  10,788

Gross margin
 percentage       77.4%   77.4%   79.1%   76.4%    77.6%

SG&A expense      7,613   8,427   9,295  10,562   35,897    12%      (556)   (711)  1,497   2,967   3,197
R&D expense       6,619   6,603   6,297   6,466   25,985     9%       465     212     (28)    215     864
Interest income    (847) (1,020) (1,067)   (818)  (3,752)   (1%)      321     136     (27)    193     623
Other non-oper-
 ating ex., net     257     698     421     450    1,826     1%      (405)   (313)   (828)   (885) (2,431)
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
                 13,642  14,708  14,946  16,660   59,956    21%      (175)   (676)    614   2,490   2,253
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
Earnings before
 income taxes    38,953  37,673  45,384  42,971  164,981    57%      (754)    974   3,945   4,370   8,535
Income taxes     12,580  11,139  14,320  14,640   52,679    18%      (355)   (839)  5,269   1,933   6,008
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
                 26,373  26,534  31,064  28,331  112,302    39%      (399)  1,813  (1,324)  2,437   2,527
                ======= ======= ======= =======  ======= ======== ======= ======= ======= =======  ======

Diluted earnings
 per share         0.71    0.71    0.84    0.76     3.02
Weighted average
 diluted shares
 outstanding     37,107  37,156  37,194  37,230   37,172

</TABLE>



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

<CAPTION>
<TABLE>
                                 Fiscal 2011                        Increase (Decrease) From Fiscal 2010
                ------------------------------------------------- --------------------------------------
                 First  Second   Third  Fourth           Percent   First  Second   Third  Fourth
                Quarter Quarter Quarter Quarter    YTD   Of Sales Quarter Quarter Quarter Quarter   YTD
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
<S>             <C>     <C>     <C>     <C>     <C>      <C>      <C>     <C>     <C>     <C>     <C>

Sales            63,041  63,080  71,120  73,046  270,287     100%   1,175   1,884   5,780  10,795  19,634
Cost of sales    12,841  12,620  13,299  15,829   54,589      20%   2,150   1,474   1,297   4,389   9,310
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
Gross margin     50,200  50,460  57,821  57,217  215,698      80%    (975)    410   4,483   6,406  10,324

Gross margin
 percentage       79.6%   80.0%   81.3%   78.3%    79.8%

SG&A expense      6,486   6,859   7,926   8,787   30,058      11%    (331)   (487)  1,202   2,163   2,547
R&D expense       6,421   6,379   6,104   6,272   25,176       9%     465     189     (23)    214     845
Interest income    (662)   (818)   (871)   (673)  (3,024)     (1%)    252      82     (57)    117     394
Exchange loss/
 gain              (505)     87    (249)   (177)    (844)      --    (362)    (13)   (621)   (808) (1,804)
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
                 11,740  12,507  12,910  14,209   51,366      19%      24    (229)    501   1,686   1,982
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
Pretax result    38,460  37,953  44,911  43,008  164,332      61%    (999)    639   3,982   4,720   8,342
                ======= ======= ======= =======  ======= ======== ======= ======= ======= =======  ======
</TABLE>

(1)	Includes R&D Systems' Biotechnology Division, R&D Systems Europe,
BiosPacific, R&D China, Boston Biochem and Tocris.



                                    HEMATOLOGY
                               (in thousands of $'s)

<CAPTION>
<TABLE>
                                 Fiscal 2011                        Increase (Decrease) From Fiscal 2010
                ------------------------------------------------- --------------------------------------
                 First  Second   Third  Fourth           Percent   First  Second   Third  Fourth
                Quarter Quarter Quarter Quarter    YTD   Of Sales Quarter Quarter Quarter Quarter   YTD
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
<S>             <C>     <C>     <C>     <C>     <C>      <C>      <C>     <C>     <C>     <C>     <C>

Sales             4,904   4,628   5,151   4,992   19,675     100%     236     303     213     529   1,281
Cost of sales     2,509   2,707   2,642   2,578   10,436      53%     190     415     137      75     817
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
Gross margin      2,395   1,921   2,509   2,414    9,239      47%      46    (112)     76     454     464

Gross margin
 percentage       48.8%   41.5%   48.7%   48.4%    47.0%

SG&A expense        328     336     438     349    1,451       7%     (42)    (30)     92      38      58
R&D expense         198     224     193     194      809       4%      --      23      (5)      1      19
Interest income     (53)    (66)    (69)    (55)    (243)     (1%)     19       6      (4)     13      34
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
                    473     494     562     488    2,017      10%     (23)     (1)     83      52     111
                ------- ------- ------- -------  ------- -------- ------- ------- ------- -------  ------
Pretax result     1,922   1,427   1,947   1,926    7,222      37%      69    (111)     (7)    402     353
                ======= ======= ======= =======  ======= ======== ======= ======= ======= =======  ======
</TABLE>




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

<CAPTION>
<TABLE>
                                         Fiscal 2011               Increase (Decrease) From Fiscal 2010
                        ----------------------------------------  --------------------------------------
                         First  Second   Third  Fourth            First  Second   Third  Fourth
                        Quarter Quarter Quarter Quarter    YTD   Quarter Quarter Quarter Quarter   YTD
                        ------- ------- ------- -------  ------- ------- ------- ------- ------- -------
<S>                     <C>     <C>     <C>     <C>     <C>      <C>     <C>     <C>     <C>     <C>

Interest income             132     136     127      90      485     (50)    (48)    (34)    (63)   (195)
Rental income               123     138     114     174      549      42      23      31      40     136
                        ------- ------- ------- -------  ------- ------- ------- ------- ------- -------
                            255     274     241     264    1,034      (8)    (25)     (3)    (23)    (59)

SG&A expense                799   1,232     931   1,426    4,388    (183)   (194)    203     766     592
Other-Building
 expenses                   556     531     586     620    2,293       8       1      (7)     91      93
Other-Equity
 Investment losses          329     218     198     181      926      (9)   (278)   (169)   (128)   (584)
                        ------- ------- ------- -------  ------- ------- ------- ------- ------- -------
                          1,684   1,981   1,715   2,227    7,607    (184)   (471)     27     729     101
                        ------- ------- ------- -------  ------- ------- ------- ------- ------- -------
Pretax result            (1,429) (1,707) (1,474) (1,963)  (6,573)    176     446     (30)   (752)   (160)
                        ======= ======= ======= =======  ======= ======= ======= ======= ======= =======
</TABLE>

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