Bio-Techne (TECH) FY2018 results: revenue $643 million, up 14.2% on the year
Bio-Techne Corp. (TECH) reported revenue of $643 million for fiscal 2018, the year ended 30 June 2018, up 14.2% on the year before. Net income was $126 million, up 65.8%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 28 August 2019.
Revenue
$643 million
+14.2% on the year
FY2011FY2018
Operating margin
21.2%
21.4% a year earlier
FY2011FY2018
Net income
$126 million
+65.8% on the year
FY2011FY2018
Diluted EPS
$0.83
+63.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
643
563
499
+14.2%
Cost of revenue
211
188
162
+11.9%
Gross profit
432
375
337
+15.4%
Gross margin
67.2%
66.5%
67.5%
Research and development
55.3
53.5
45.2
+3.4%
Selling, general and administrative
241
200
141
+20.1%
Operating income
136
121
151
+12.9%
Operating margin
21.2%
21.4%
30.2%
Interest expense
10.2
7.4
1.7
+38.4%
Pre-tax income
126
112
147
+12.5%
Income tax
-0.2
35.9
43.0
Effective tax rate
-0.2%
32.0%
29.2%
Net income
126
76.1
104
+65.8%
Net margin
19.6%
13.5%
20.9%
Diluted EPS
$0.83
$0.51
$0.70
+63.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
170
144
144
+18.5%
Capital expenditure
20.9
15.2
16.9
+37.9%
Free cash flow
149
129
127
+16.3%
Free cash flow margin
23.2%
22.8%
25.5%
Cash from investing
-38.7
-306
-108
Cash from financing
-99.2
189
-23.4
Depreciation and amortisation
64.5
60.0
42.8
+7.4%
Share-based compensation
28.2
14.6
9.4
+93.0%
Buybacks
0.0
n/a
n/a
Dividends paid
48.0
47.3
47.6
+1.4%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
152m
150m
149m
+1.5%
Shares outstanding at period end
150m
149m
149m
+0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,079
950
879
+13.6%
Debt
339
344
95.3
-1.4%
Other liabilities
175
265
155
-33.9%
Total liabilities and equity
1,593
1,558
1,130
+2.2%
Fixed assets
145
135
132
+7.6%
Goodwill
598
579
431
+3.3%
Intangible assets
446
452
311
-1.3%
Investments
59.8
66.1
31.6
-9.6%
Cash and equivalents
122
91.6
64.2
+33.2%
Receivables
120
117
93.4
+3.0%
Inventory
85.6
60.2
57.1
+42.4%
Other assets
15.9
57.3
9.5
-72.2%
Total assets
1,593
1,558
1,130
+2.2%
10-K for the year ended 30 June 2018, filed 28 August 2019: the filing.