<SEC-DOCUMENT>0000842023-12-000017.txt : 20120731
<SEC-HEADER>0000842023-12-000017.hdr.sgml : 20120731
<ACCEPTANCE-DATETIME>20120731085745
ACCESSION NUMBER:		0000842023-12-000017
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120731
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120731
DATE AS OF CHANGE:		20120731

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:		12995398

	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): July 31, 2012

                            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 July 31,
2012, describing the results of operations for the quarter and fiscal year
ended June 30, 2012 and its financial condition as of June 30,
2012, is attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and fiscal year
ended June 30, 2012 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 July 31, 2012.

         99.2 Segment information for the quarter and fiscal year
              ended June 30, 2012.






                            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: July 31, 2012                    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 July 31, 2012.

       99.2     Segment information for Techne Corporation for the quarter
                and fiscal year ended June 30, 2012.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>release73112.txt
<DESCRIPTION>EARNINGS RELEASE
<TEXT>

           TECHNE CORPORATION RELEASES UNAUDITED FOURTH QUARTER
                       AND FISCAL YEAR 2012 RESULTS

Minneapolis/July 31, 2012/ Techne Corporation's (NASDAQ:TECH) financial
results for the fourth quarter and fiscal year ended June 30, 2012 include
the following highlights:

 Fourth quarter earnings were $27.2 million or $0.74 per diluted share.
  Adjusted earnings for the quarter were $29.4 million (a decrease of 6.8%
  from the prior fiscal year period) or $0.80 per diluted share. Earnings
  and adjusted earnings were negatively impacted by foreign currency
  fluctuations, which reduced reported sales and gross margins and
  increased foreign currency transaction losses.  Adjusted earnings and
  earnings per share exclude intangible asset amortization, costs
  recognized upon the sale of inventory that was written-up to fair value
  and professional fees incurred as part of the acquisitions of Boston
  Biochem, Inc. and Tocris Holdings Limited completed in the quarter ended
  June 30, 2011.

  Earnings for the fiscal year ended June 30, 2012 were $112 million or
   $3.04 per diluted share.  Adjusted earnings for the fiscal year ended
   June 30, 2012 were $121 million (an increase of 3.7% from the prior
   fiscal year) or $3.26 per diluted share.  Adjusted earnings and
   earnings per diluted share for the fiscal year also exclude the impact
   of impairment charges on certain equity investments and the reversal
   of deferred tax asset valuation allowances in addition to the
   acquisition-related items noted above.

 Net sales as reported grew 0.8% to $78.7 million for the quarter ended June
  30, 2012. Organic sales grew 0.6% in the quarter compared to the prior
  fiscal year.  Organic sales exclude sales from acquisitions and the
  changes in foreign currency rates.

  Net sales as reported grew 8.5% to $315 million for the fiscal year ended
   June 30, 2012.  Organic sales grew 1.8% for the fiscal year ended June
   30, 2012 compared to the prior fiscal year.

A stronger U.S. dollar as compared to foreign currencies reduced sales by
$1.6 million in the quarter ended June 30, 2012 from the comparable prior-
year quarter. Changes in foreign currency exchange rates did not have a
material effect on sales for the fiscal year ended June 30, 2012.

The Biotechnology segment includes sales made through R&D Systems'
Biotechnology Division, R&D Systems Europe, Tocris, R&D Systems China,
BiosPacific and Boston Biochem.  Biotechnology segment net sales were $73.0
million for both the quarters ended June 30, 2012 and 2011.  Biotechnology
net sales were $293 million for the fiscal year ended June 30, 2012, an
increase of 8.5% from $270 million for the fiscal year ended June 30, 2011.
Biotechnology sales declined 0.3% and grew 1.3% for the quarter and fiscal
year ended June 30, 2012, respectively, if sales from the acquisitions and
foreign currency effect are excluded.

Organic sales growth for the Biotechnology segment from the same prior-year
periods were:

                               Period Ended June 30, 2012
                               --------------------------
                                  Quarter    Fiscal Year
                                  -------    -----------

U.S. industrial, pharmaceutical
  and biotechnology                (2.6%)        3.2%
U.S. academic                       0.3%        (5.1%)
Europe                             (3.7%)       (1.5%)
China                              19.6%        21.6%
Pacific Rim                         9.8%         7.0%


Hematology net sales for the quarter and fiscal year ended June 30, 2012 were
$5.7 million and $21.3 million, increases of 14.1% and 8.2%, respectively,
from the comparable prior-year periods.

The gross margin percentage declined to 74.8% in the quarter ended June 30,
2012 from 76.4% in the comparable prior-year quarter and to 75.0% in the
fiscal year ended June 30, 2012 from 77.6% in the comparable prior fiscal
year, due to costs recognized upon the sale of inventory that was written-up
to fair value as part of the acquisitions completed during the 2011 fiscal
year and the amortization of intangible assets.  Gross margins were 78.0% and
79.5% for the quarters ended June 30, 2012 and 2011, respectively, and 78.4%
and 78.5% for the fiscal years ended June 30, 2012 and 2011, respectively, if
such costs were excluded in all periods.  The decrease in adjusted gross
margins for the quarter ended June 30, 2012 was primarily caused by
unfavorable exchange rates.

Selling, general and administrative expenses for the quarter and fiscal year
ended June 30, 2012 decreased $202,000 and increased $5.8 million,
respectively, from the quarter and fiscal year ended June 30, 2011.
Excluding the acquired company's selling, general and administrative
expenses, professional fees related to the acquisitions and intangible
amortization, selling, general and administrative expenses increased $830,000
and $2.8 million for the quarter and fiscal year ended June 30, 2012,
respectively, from the same prior-year periods. The increase for the quarter
ended June 30, 2012, includes a $440,000 increase in advertising and
promotional expenses and a final litigation settlement of $170,000. The
increase for the fiscal year is mainly the result of a $1.3 million increase
in wages and benefits, including additional personnel added during the year,
the litigation settlement and $503,000 additional stock option expense.

Other non-operating expenses include foreign exchange transaction losses of
$897,000 and gains of $177,000 in the quarters ended June 30, 2012 and 2011,
respectively. Other non-operating expenses include foreign exchange
transaction losses of $1.4 million and gains of $844,000 in the fiscal years
ended June 30, 2012 and 2011, respectively.

Other expenses for the fiscal year ended June 30, 2012 also included $3.3
million of impairment losses on investments in unconsolidated entities.
These losses were the result of Nephromics, LLC signing an agreement to sell
substantially all of its assets and ACTGen, Inc. suffering substantial
operating losses and encountering funding difficulties.

The effective tax rate for the quarter and fiscal year ended June 30, 2012
was 32.9% and 30.7%, respectively, as compared to 34.1% and 31.9% for the
same prior-year periods. Income taxes for the fiscal year ended June 30, 2012
were positively impacted by $3.0 million due to the reversal of a valuation
allowance on deferred tax assets related to the excess tax basis in the
Company's investments in unconsolidated entities. The effective tax rate for
the quarter and fiscal year ended June 30, 2011 was impacted by non-
deductible professional fees and other costs related to acquisitions, the
renewal of U.S. research and development credit and an increase in the
deduction for qualified production activities.  The tax rate for fiscal 2013
is expected to be 31% to 33%.

The Company's investment in ChemoCentryx, Inc. (CCXI) is included in short-
term available-for-sale investments at June 30, 2012 at a fair-value of $94.6
million.  The Company's investment in CCXI was $14.3 million at June 30, 2011
and included in other non-current assets as CCXI was not publicly traded.
During the third quarter of fiscal 2012, CCXI began trading publicly and at
that time the Company invested an additional $15 million in CCXI. The
Company's unrealized gain of $65.2 million on the investment, net of deferred
tax liability of $23.4 million, was included in accumulated other
comprehensive income at June 30, 2012.

The Company repurchased 34,643 and 343,653 shares of its common stock during
the quarter and fiscal year ended June 30, 2012, respectively, for
approximately $2.3 million and $23.6 million, respectively.  Approximately
$27.0 million remains available at June 30, 2012 for the repurchase and
retirement of shares under the currently-open authorization.

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 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, net earnings and
earnings per share for the quarter and fiscal year ended June 30, 2012 as
compared to the reported amounts for the same periods ended June 30, 2011:

- 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, Inc. on April 1, 2011 and Tocris
  Holdings Ltd. 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;

- professional fess incurred as part of the acquisitions of Boston Biochem,
  Inc. and Tocris Holdings Ltd.;

- the amount and impact of impairment losses related to the Company's
  investments in unconsolidated entities; and

- the reversal of valuation allowances on deferred tax assets related to the
  excess tax basis in the Company's unconsolidated entities.

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 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 three operating
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.  R&D Europe has two subsidiaries: Tocris
Holdings Ltd (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
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Net sales                             $78,681  $78,038  $314,560  $289,962
Cost of sales                          19,817   18,407    78,756    65,025
                                      -------  -------  --------  --------
Gross margin                           58,864   59,631   235,804   224,937
Operating expenses:
 Selling, general and administrative   10,360   10,562    41,683    35,897
 Research and development               7,286    6,466    27,912    25,985
  Total operating expenses             17,646   17,028    69,595    61,882
                                      -------  -------  --------  --------
Operating income                       41,218   42,603   166,209   163,055
                                      -------  -------  --------  --------
Other income (expense):
 Interest income                          643      818     2,639     3,752
 Impairment losses on investments
  in unconsolidated entities                0        0    (3,254)        0
 Other non-operating expense, net      (1,244)    (450)   (3,399)   (1,826)
                                      -------  -------  --------  --------
  Total other (expense) income           (601)     368    (4,014)    1,926
                                      -------  -------  --------  --------
Earnings before income taxes           40,617   42,971   162,195   164,981
Income taxes                           13,376   14,640    49,864    52,679
                                      -------  -------  --------  --------
Net earnings                          $27,241  $28,331  $112,331  $112,302
                                      =======  =======  ========  ========
Earnings per share:
 Basic                                $  0.74  $  0.76  $   3.04  $   3.03
 Diluted                              $  0.74  $  0.76  $   3.04  $   3.02
Weighted average common
 shares outstanding:
  Basic                                36,831   37,140    36,939    37,098
  Diluted                              36,894   37,230    37,006    37,172



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

                                                         6/30/12   6/30/11
                                                        --------  --------
ASSETS
Cash and equivalents                                    $116,675  $ 77,613
Short-term available-for-sale investments                152,311    63,200
Trade accounts receivable                                 35,668    35,914
Inventory                                                 38,277    44,906
Other current assets                                       3,576     8,784
                                                        --------  --------
  Current assets                                         346,507   230,417

Available-for-sale investments                           143,966   131,988
Property and equipment, net                               93,788    95,398
Goodwill and intangible assets, net                      132,158   138,915
Other non-current assets                                   2,905    20,952
                                                        --------  --------
  Total assets                                          $719,324  $617,670
                                                        ========  ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses                   $ 13,836  $ 12,679
Payable for pending available-for-sale
 investment purchases                                      4,429         0
Income taxes - deferred and current                       17,485     5,509
                                                        --------  --------
  Current liabilities                                     35,750    18,188

Deferred taxes                                             9,132    13,360
Stockholders' equity                                     674,442   586,122
                                                        --------  --------
  Total liabilities and stockholders' equity            $719,324  $617,670
                                                        ========  ========

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

                                       QUARTER ENDED    FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Net sales                             $78,681  $78,038  $314,560  $289,962
Organic sales adjustments:
 Acquisitions                          (1,730)       0   (19,385)        0
 Impact of foreign
  currency fluctuations                 1,556        0        27         0
                                      -------  -------  --------  --------
Organic sales                         $78,507  $78,038  $295,202  $289,962
                                      =======  =======  ========  ========

Organic sales growth                     0.6%               1.8%


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

                                       QUARTER ENDED    FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Net earnings                          $27,241  $28,331  $112,331  $112,302
Identified adjustments:
 Costs recognized upon sale of
  acquired inventory                    1,703    1,835     7,573     1,835
 Amortization of intangibles            1,273      954     5,094     1,465
 Acquisition related professional fees      0    1,256         0     1,735
 Impairment losses on investments           0        0     3,254         0
 Tax impact of above adjustments         (785)    (797)   (4,668)   (1,119)
 Tax impact of reversal of
  valuation allowance                       0        0    (3,016)        0
                                      -------  -------  --------  --------
                                        2,191    3,248     8,237     3,916
                                      -------  -------  --------  --------
Net earnings - adjusted for
 identified items                     $29,432  $31,579  $120,568  $116,218
                                      =======  =======  ========  ========

Adjusted growth                         (6.8%)              3.7%

Earnings per share - Diluted -
  adjusted                            $  0.80  $  0.85  $   3.26  $   3.13


                            TECHNE CORPORATION
             RECONCILIATION of GROSS MARGIN PERCENTAGES
                                 (Unaudited)

                                       QUARTER ENDED    FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Gross margin percentage                 74.8%    76.4%     75.0%     77.6%
Identified adjustments:
 Costs recognized upon sale of
  acquired inventory                     2.2%     2.4%      2.4%      0.6%
 Amortization of intangibles             1.0%     0.7%      1.0%      0.3%
                                      -------  -------  --------  --------
Gross margin percentage - adjusted      78.0%    79.5%     78.4%     78.5%
                                      =======  =======  ========  ========




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

                                       QUARTER ENDED    FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Selling, general and
 administrative expenses              $10,360  $10,562  $ 41,683  $ 35,897
 Identified selling, general and
 administrative expense adjustments:
   Acquired companies' expense,
    excluding intangible amortization  (1,041)    (945)   (4,201)     (945)
  Amortization of intangibles            (518)    (390)   (2,076)     (575)
  Acquisition related professional fees     0   (1,256)        0    (1,735)
                                      -------  -------  --------  --------
Selling, general and administrative
  expenses - adjusted                 $ 8,801  $ 7,971  $ 35,406  $ 32,641
                                      =======  =======  ========  ========



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

                                       QUARTER ENDED    FISCAL YEAR ENDED
                                      ----------------  ------------------
                                      6/30/12  6/30/11   6/30/12   6/30/11
                                      -------  -------  --------  --------
Amortization of intangible assets
 included in:
  Cost of goods sold                  $   755  $   564  $  3,018  $    890
  Selling, general and
   administrative expenses                518      390     2,076       575
                                      -------  -------  --------  --------
Total amortization of
 intangible assets                    $ 1,273  $   954  $  5,094  $  1,465
                                      =======  =======  ========  ========






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg612.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                                SEGMENT INFORMATION
                      TECHNE CORPORATION AND SUBISIDARIES
                   (in thousands of $'s, except per share data)

<CAPTION>
<TABLE>

                                    Fiscal 2012                      Increase (Decrease) From Fiscal 2011
                --------------------------------------------------  ---------------------------------------
                 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            77,596  74,662  83,621  78,681  314,560     100%     9,651   6,954   7,350     643  24,598
Cost of sales    19,209  19,492  20,238  19,817   78,756      25%     3,859   4,165   4,297   1,410  13,731
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Gross margin     58,387  55,170  63,383  58,864  235,804      75%     5,792   2,789   3,053    (767) 10,867

Gross margin
 percentage       75.2%   73.9%   75.8%   74.8%    75.0%

SG&A expense     10,773  10,651   9,899  10,360   41,683      13%     3,160   2,224     604    (202)  5,786
R&D expense       6,667   6,837   7,122   7,286   27,912       9%        48     234     825     820   1,927
Interest income    (728)   (798)   (470)   (643)  (2,639)     (1%)      119     222     597     175   1,113
Impairment loss       0       0   3,254       0    3,254       1%         0       0   3,254       0   3,254
Other non-oper-
 ating ex., net   1,175     607     373   1,244    3,399       1%       918     (91)    (48)    794   1,573
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
                 17,887  17,297  20,178  18,247   73,609      23%     4,245   2,589   5,232   1,587  13,653
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Earnings before
 income taxes    40,500  37,873  43,205  40,617  162,195      52%     1,547     200  (2,179) (2,354) (2,786)
Income taxes     12,979  12,060  11,449  13,376   49,864      16%       399     921  (2,871) (1,264) (2,815)
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
                 27,521  25,813  31,756  27,241  112,331      36%     1,148    (721)    692  (1,090)     29
                ======= ======= ======= =======  =======  ========  ======= ======= ======= =======  ======

Diluted earnings
 per share         0.74    0.70    0.86    0.74     3.04
Weighted average
 diluted shares
 outstanding     37,170  37,028  36,930  36,894   37,006

</TABLE>



                           BIOTECHNOLOGY  (1)
                          (in thousands of $'s)
<CAPTION>
<TABLE>

                                    Fiscal 2012                      Increase (Decrease) From Fiscal 2011
                --------------------------------------------------  ---------------------------------------
                 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            72,303  69,808  78,180  72,983  293,274     100%     9,262   6,728   7,060     (63) 22,987
Cost of sales    16,465  16,887  17,444  17,014   67,810      23%     3,624   4,267   4,145   1,185  13,221
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Gross margin     55,838  52,921  60,736  55,969  225,464      77%     5,638   2,461   2,915  (1,248)  9,766

Gross margin
 percentage       77.2%   75.8%   77.7%   76.7%    76.9%

SG&A expense      9,470   9,003   8,921   9,059   36,453      12%     2,984   2,144     995     272   6,395
R&D expense       6,469   6,624   6,924   7,095   27,112       9%        48     245     820     823   1,936
Interest income    (609)   (689)   (387)   (541)  (2,226)     (1%)       53     129     484     132     798
Exchange loss/
 gain               524     105    (164)    897    1,362       0%     1,029      18      85   1,074   2,206
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
                 15,854  15,043  15,294  16,510   62,701      21%     4,114   2,536   2,384   2,301  11,335
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Pretax result    39,984  37,878  45,442  39,459  162,763      56%     1,524     (75)    531  (3,549) (1,569)
                ======= ======= ======= ======= ========  ========  ======= ======= ======= =======  ======

</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 2012                      Increase (Decrease) From Fiscal 2011
                --------------------------------------------------  ---------------------------------------
                 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             5,293   4,854   5,441   5,698   21,286     100%       389     226     290     706   1,611
Cost of sales     2,744   2,605   2,794   2,803   10,946      51%       235    (102)    152     225     510
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Gross margin      2,549   2,249   2,647   2,895   10,340      49%       154     328     138     481   1,101

Gross margin
 percentage       48.2%   46.3%   48.7%   50.8%    48.6%

SG&A expense        480     400     435     382    1,697       8%       152      64      (3)     33     246
R&D expense         198     213     198     191      800       4%        --     (11)      5      (3)     (9)
Interest income     (47)    (45)    (23)    (44)    (159)     (1%)        6      21      46      11      84
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
                    631     568     610     529    2,338      11%       158      74      48      41     321
                ------- ------- ------- -------  -------  --------  ------- ------- ------- -------  ------
Pretax result     1,918   1,681   2,037   2,366    8,002      38%        (4)    254      90     440     780
                ======= ======= ======= ======= ========  ========  ======= ======= ======= =======  ======
</TABLE>


                               CORPORATE AND OTHER (2)
                                (in thousands of $'s)
<CAPTION>
<TABLE>

                                         Fiscal 2012             Increase (Decrease) From Fiscal 2011
                     ----------------------------------------  ---------------------------------------
                      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           72      64      60      58      254      (60)    (72)    (67)    (32)   (231)
Rental income            134     198     150     211      693       11      60      36      37     144
                     ------- ------- ------- -------  -------  ------- ------- ------- -------  ------
                         206     262     210     269      947      (49)    (12)    (31)      5     (87)

SG&A expense             823   1,248     543     919    3,533       24      16    (388)   (507)   (855)
Other-Building
 expenses                587     482     545     513    2,127       31     (49)    (41)   (107)   (166)
Other-Impairment
  losses                   0       0   3,254       0    3,254        0       0   3,254       0   3,254
Other-Equity
 investment losses       198     218     142      45      603     (131)      0     (56)   (136)   (323)
                     ------- ------- ------- -------  -------  ------- ------- ------- -------  ------
                       1,608   1,948   4,484   1,477    9,517      (76)    (33)  2,769    (750)  1,910
                     ------- ------- ------- -------  -------  ------- ------- ------- -------  ------
Pretax result         (1,402) (1,686) (4,274) (1,208)  (8,570)      27      21  (2,800)    755  (1,997)
                     ======= ======= ======= =======  =======  ======= ======= ======= =======  ======


</TABLE>

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