Bio-Techne Corp. Q1 Profit Decreases, misses estimates

(RTTNews) - Bio-Techne Corp. (TECH) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $50.99 million, or $0.31 per share. This compares with $89.56 million, or $0.55 per share, in last year's first quarter.

Excluding items, Bio-Techne Corp. reported adjusted earnings of $66.04 million or $0.41 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.7% to $276.94 million from $269.66 million last year.

Bio-Techne Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $50.99 Mln. vs. $89.56 Mln. last year. -EPS (Q1): $0.31 vs. $0.55 last year. -Analyst Estimates: $0.44 -Revenue (Q1): $276.94 Mln vs. $269.66 Mln last year.