Bio-Techne (TECH) FY2014 results: revenue $358 million, up 15.2% on the year
Bio-Techne Corp. (TECH) reported revenue of $358 million for fiscal 2014, the year ended 30 June 2014, up 15.2% on the year before. Net income was $111 million, down 1.4%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2014.
Revenue
$358 million
+15.2% on the year
FY2009FY2014
Operating margin
44.7%
0.1% a year earlier
FY2009FY2014
Net income
$111 million
-1.4% on the year
FY2009FY2014
Diluted EPS
$0.75
-1.6% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
358
311
315
+15.2%
Cost of revenue
106
79.5
78.8
+33.8%
Gross profit
251
231
236
+8.8%
Gross margin
70.3%
74.4%
75.0%
Research and development
30.9
29.3
27.9
+5.8%
Selling, general and administrative
60.7
43.4
41.7
+40.0%
Operating income
160
0.2
166
+100,708.4%
Operating margin
44.7%
0.1%
52.8%
Interest expense
0.0
0.0
n/a
Pre-tax income
161
161
162
+0.5%
Income tax
50.4
48.1
49.9
+4.9%
Effective tax rate
31.3%
29.9%
30.7%
Net income
111
113
112
-1.4%
Net margin
31.0%
36.2%
35.7%
Diluted EPS
$0.75
$0.76
$0.76
-1.6%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
137
124
127
+10.7%
Capital expenditure
13.8
22.5
6.0
-38.4%
Free cash flow
123
101
121
+21.6%
Free cash flow margin
34.4%
32.6%
38.4%
Cash from investing
n/a
-31.2
-21.7
Cash from financing
n/a
-44.7
-64.6
Depreciation and amortisation
19.2
12.3
12.5
+55.6%
Share-based compensation
3.5
1.9
n/a
+89.0%
Buybacks
0.0
1.8
23.6
Dividends paid
45.4
43.5
41.0
+4.4%
Dividend per share
$0.31
$0.29
$0.28
+4.2%
Diluted shares, weighted
148m
148m
148m
+0.3%
Shares outstanding at period end
148m
147m
147m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
795
738
674
+7.8%
Debt
12.9
0.0
0.0
Other liabilities
54.3
40.6
44.9
+33.8%
Total liabilities and equity
862
778
719
+10.8%
Fixed assets
117
109
93.8
+7.7%
Goodwill
151
84.3
85.7
+79.6%
Intangible assets
109
40.6
46.5
+168.2%
Investments
48.4
302
296
-84.0%
Cash and equivalents
319
164
117
+94.5%
Receivables
55.0
38.2
35.7
+44.0%
Inventory
38.8
34.9
38.3
+11.4%
Other assets
24.3
6.1
6.5
+300.3%
Total assets
862
778
719
+10.8%
10-K for the year ended 30 June 2014, filed 29 August 2014: the filing.