Bio-Techne (TECH) FY2015 results: revenue $452 million, up 26.4% on the year
Bio-Techne Corp. (TECH) reported revenue of $452 million for fiscal 2015, the year ended 30 June 2015, up 26.4% on the year before. Net income was $108 million, down 2.9%, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 31 August 2015.
Revenue
$452 million
+26.4% on the year
FY2009FY2015
Operating margin
32.5%
44.7% a year earlier
FY2009FY2015
Net income
$108 million
-2.9% on the year
FY2009FY2015
Diluted EPS
$0.72
-3.7% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
452
358
311
+26.4%
Cost of revenue
145
106
79.5
+36.3%
Gross profit
307
251
231
+22.2%
Gross margin
67.9%
70.3%
74.4%
Research and development
40.9
30.9
29.3
+32.0%
Selling, general and administrative
119
60.7
43.4
+96.7%
Operating income
147
160
0.2
-8.0%
Operating margin
32.5%
44.7%
0.1%
Interest expense
1.5
0.0
0.0
Pre-tax income
154
161
161
-4.5%
Income tax
46.4
50.4
48.1
-8.0%
Effective tax rate
30.1%
31.3%
29.9%
Net income
108
111
113
-2.9%
Net margin
23.8%
31.0%
36.2%
Diluted EPS
$0.72
$0.75
$0.76
-3.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
139
137
124
+1.9%
Capital expenditure
19.9
13.8
22.5
+44.0%
Free cash flow
119
123
101
-2.8%
Free cash flow margin
26.4%
34.4%
32.6%
Cash from investing
n/a
n/a
-31.2
Cash from financing
n/a
n/a
-44.7
Depreciation and amortisation
37.2
19.2
12.3
+94.1%
Share-based compensation
6.0
3.5
1.9
+69.1%
Buybacks
0.0
0.0
1.8
Dividends paid
47.1
45.4
43.5
+3.8%
Dividend per share
$0.32
$0.31
$0.29
+3.3%
Diluted shares, weighted
149m
148m
148m
+0.6%
Shares outstanding at period end
149m
148m
147m
+0.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
847
795
738
+6.5%
Debt
77.0
12.9
0.0
+495.0%
Other liabilities
139
54.3
40.6
+156.8%
Total liabilities and equity
1,063
862
778
+23.3%
Fixed assets
130
117
109
+10.8%
Goodwill
391
151
84.3
+157.9%
Intangible assets
293
109
40.6
+169.2%
Investments
56.4
48.4
302
+16.6%
Cash and equivalents
54.5
319
164
-82.9%
Receivables
70.0
55.0
38.2
+27.3%
Inventory
49.6
38.8
34.9
+27.6%
Other assets
19.6
24.3
6.1
-19.5%
Total assets
1,063
862
778
+23.3%
10-K for the year ended 30 June 2015, filed 31 August 2015: the filing.