Bio-Techne (TECH) FY2013 results: revenue $311 million, down 1.3% on the year
Bio-Techne Corp. (TECH) reported revenue of $311 million for fiscal 2013, the year ended 30 June 2013, down 1.3% on the year before. Net income was $113 million, up 0.2%, and diluted earnings per share $0.76. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2013.
Revenue
$311 million
-1.3% on the year
FY2009FY2013
Operating margin
0.1%
52.8% a year earlier
FY2009FY2013
Net income
$113 million
+0.2% on the year
FY2009FY2013
Diluted EPS
$0.76
+0.3% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
311
315
290
-1.3%
Cost of revenue
79.5
78.8
65.0
+0.9%
Gross profit
231
236
225
-2.0%
Gross margin
74.4%
75.0%
77.6%
Research and development
29.3
27.9
26.0
+4.8%
Selling, general and administrative
43.4
41.7
35.9
+4.1%
Operating income
0.2
166
163
-99.9%
Operating margin
0.1%
52.8%
56.2%
Interest expense
0.0
n/a
n/a
Pre-tax income
161
162
165
-0.9%
Income tax
48.1
49.9
52.7
-3.5%
Effective tax rate
29.9%
30.7%
31.9%
Net income
113
112
112
+0.2%
Net margin
36.2%
35.7%
38.7%
Diluted EPS
$0.76
$0.76
$0.76
+0.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
124
127
127
-2.5%
Capital expenditure
22.5
6.0
3.6
+273.2%
Free cash flow
101
121
124
-16.3%
Free cash flow margin
32.6%
38.4%
42.6%
Cash from investing
-31.2
-21.7
-114
Cash from financing
-44.7
-64.6
-36.3
Depreciation and amortisation
12.3
12.5
8.7
-1.2%
Share-based compensation
1.9
n/a
1.1
Buybacks
1.8
23.6
1.9
-92.3%
Dividends paid
43.5
41.0
39.7
+6.0%
Dividend per share
$0.29
$0.28
$0.27
+6.3%
Diluted shares, weighted
148m
148m
149m
-0.3%
Shares outstanding at period end
147m
147m
149m
+0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
738
674
586
+9.4%
Debt
0.0
0.0
0.0
Other liabilities
40.6
44.9
31.5
-9.6%
Total liabilities and equity
778
719
618
+8.2%
Fixed assets
109
93.8
95.4
+16.0%
Goodwill
84.3
85.7
86.6
-1.6%
Intangible assets
40.6
46.5
52.3
-12.7%
Investments
302
296
195
+1.8%
Cash and equivalents
164
117
77.6
+40.4%
Receivables
38.2
35.7
35.9
+7.1%
Inventory
34.9
38.3
44.9
-8.9%
Other assets
6.1
6.5
29.7
-6.2%
Total assets
778
719
618
+8.2%
10-K for the year ended 30 June 2013, filed 29 August 2013: the filing.