Bio-Techne Q2 Results Miss Estimates; Declares Dividend
(RTTNews) - Life sciences company Bio-Techne Corp. (TECH) reported Thursday that second-quarter net earnings attributable to the company almost halved to $27.47 million or $0.17 per share from $50.01 million or $0.31 per share in the prior-year quarter.
Excluding items, adjusted earnings were $0.40 per share, compared to $0.47 per share in the year-ago quarter.
Net sales for the quarter edged up to $272.60 million from last year's $271.58 million. Organic revenue decreased 2 percent.
On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share on revenues of $277.53 million for the quarter. Analysts' estimates typically exclude special items.
Separately, Bio-Techne 's Board of Directors decided to pay a dividend of $0.08 per share for the quarter ended December 31, 2023, payable on February 26, 2024, to all common shareholders of record on February 12, 2024.
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