Bio-Techne (TECH) FY2017 results: revenue $563 million, up 12.8% on the year
Bio-Techne Corp. (TECH) reported revenue of $563 million for fiscal 2017, the year ended 30 June 2017, up 12.8% on the year before. Net income was $76 million, down 27.2%, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2019.
Revenue
$563 million
+12.8% on the year
FY2010FY2017
Operating margin
21.4%
30.2% a year earlier
FY2010FY2017
Net income
$76 million
-27.2% on the year
FY2010FY2017
Diluted EPS
$0.51
-27.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
563
499
452
+12.8%
Cost of revenue
188
162
145
+16.1%
Gross profit
375
337
307
+11.3%
Gross margin
66.5%
67.5%
67.9%
Research and development
53.5
45.2
40.9
+18.4%
Selling, general and administrative
200
141
119
+42.3%
Operating income
121
151
147
-19.9%
Operating margin
21.4%
30.2%
32.5%
Interest expense
7.4
1.7
1.5
+321.1%
Pre-tax income
112
147
154
-24.1%
Income tax
35.9
43.0
46.4
-16.6%
Effective tax rate
32.0%
29.2%
30.1%
Net income
76.1
104
108
-27.2%
Net margin
13.5%
20.9%
23.8%
Diluted EPS
$0.51
$0.70
$0.72
-27.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
144
144
139
-0.3%
Capital expenditure
15.2
16.9
19.9
-10.2%
Free cash flow
129
127
119
+1.0%
Free cash flow margin
22.8%
25.5%
26.4%
Cash from investing
-306
-108
n/a
Cash from financing
189
-23.4
n/a
Depreciation and amortisation
60.0
42.8
37.2
+40.4%
Share-based compensation
14.6
9.4
6.0
+55.2%
Buybacks
n/a
n/a
0.0
Dividends paid
47.3
47.6
47.1
-0.6%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
150m
149m
149m
+0.5%
Shares outstanding at period end
149m
149m
149m
+0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
950
879
847
+8.0%
Debt
344
95.3
77.0
+260.9%
Other liabilities
265
155
139
+70.8%
Total liabilities and equity
1,558
1,130
1,063
+37.9%
Fixed assets
135
132
130
+2.1%
Goodwill
579
431
391
+34.4%
Intangible assets
452
311
293
+45.6%
Investments
66.1
31.6
56.4
+109.2%
Cash and equivalents
91.6
64.2
54.5
+42.6%
Receivables
117
93.4
70.0
+25.1%
Inventory
60.2
57.1
49.6
+5.3%
Other assets
57.3
9.5
19.6
+504.6%
Total assets
1,558
1,130
1,063
+37.9%
10-K for the year ended 30 June 2017, filed 28 August 2019: the filing.