Bio-Techne (TECH) FY2016 results: revenue $499 million, up 10.3% on the year
Bio-Techne Corp. (TECH) reported revenue of $499 million for fiscal 2016, the year ended 30 June 2016, up 10.3% on the year before. Net income was $104 million, down 3.0%, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2016.
Revenue
$499 million
+10.3% on the year
FY2009FY2016
Operating margin
30.2%
32.5% a year earlier
FY2009FY2016
Net income
$104 million
-3.0% on the year
FY2009FY2016
Diluted EPS
$0.70
-3.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
499
452
358
+10.3%
Cost of revenue
162
145
106
+12.0%
Gross profit
337
307
251
+9.6%
Gross margin
67.5%
67.9%
70.3%
Research and development
45.2
40.9
30.9
+10.6%
Selling, general and administrative
141
119
60.7
+18.0%
Operating income
151
147
160
+2.4%
Operating margin
30.2%
32.5%
44.7%
Interest expense
1.7
1.5
0.0
+13.2%
Pre-tax income
147
154
161
-4.3%
Income tax
43.0
46.4
50.4
-7.4%
Effective tax rate
29.2%
30.1%
31.3%
Net income
104
108
111
-3.0%
Net margin
20.9%
23.8%
31.0%
Diluted EPS
$0.70
$0.72
$0.75
-3.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
144
139
137
+3.4%
Capital expenditure
16.9
19.9
13.8
-15.1%
Free cash flow
127
119
123
+6.5%
Free cash flow margin
25.5%
26.4%
34.4%
Cash from investing
-108
n/a
n/a
Cash from financing
-23.4
n/a
n/a
Depreciation and amortisation
42.8
37.2
19.2
+14.9%
Share-based compensation
9.4
6.0
3.5
+58.3%
Buybacks
n/a
0.0
0.0
Dividends paid
47.6
47.1
45.4
+1.1%
Dividend per share
$0.32
$0.32
$0.31
+0.8%
Diluted shares, weighted
149m
149m
148m
+0.3%
Shares outstanding at period end
149m
149m
148m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
879
847
795
+3.8%
Debt
95.3
77.0
12.9
+23.7%
Other liabilities
155
139
54.3
+11.2%
Total liabilities and equity
1,130
1,063
862
+6.2%
Fixed assets
132
130
117
+2.0%
Goodwill
431
391
151
+10.3%
Intangible assets
311
293
109
+6.0%
Investments
31.6
56.4
48.4
-44.0%
Cash and equivalents
64.2
54.5
319
+17.8%
Receivables
93.4
70.0
55.0
+33.4%
Inventory
57.1
49.6
38.8
+15.2%
Other assets
9.5
19.6
24.3
-51.6%
Total assets
1,130
1,063
862
+6.2%
10-K for the year ended 30 June 2016, filed 29 August 2016: the filing.