Bio-Techne(US:TECH) ZACKSยท2024-10-30 17:05Core Insights - Bio-Techne (TECH) reported first-quarter fiscal 2025 adjusted earnings per share (EPS) of 42 cents, exceeding the Zacks Consensus Estimate by 10.5% and surpassing the year-ago figure by a penny [1][10] - The company registered net sales of $289.5 million, reflecting a 5% year-over-year increase on a reported basis and a 4% increase on an organic basis, also exceeding the Zacks Consensus Estimate by 3.1% [3][10] Financial Performance - GAAP EPS was reported at 21 cents, down from 31 cents in the prior-year quarter [2] - Gross profit decreased by 1.2% to $183 million, with gross margin contracting by 364 basis points to 63.2% due to a 16% rise in cost of sales [6] - Selling, general and administrative expenses rose by 13.1% to $119.2 million, while research and development expenses totaled $23.8 million, down 0.5% year over year [6] Segment Performance - In the Protein Sciences segment, revenues were $204.5 million, flat year over year, with a 1% organic increase [4] - The Diagnostics and Genomics segment saw a 14% increase in sales to $72.8 million, with a 14% organic growth as well [5] - The operating margin for the Protein Sciences segment contracted by 380 basis points to 39.4%, while the Diagnostics and Spatial Biology segment's operating margin increased by 440 basis points to 5.1% [7] Capital Structure - At the end of the first quarter, Bio-Techne had cash and equivalents of $187.5 million, up from $152.9 million at the end of fiscal 2024, while long-term debt obligations decreased to $300 million from $319 million [8] Cash Flow - Cumulative net cash provided by operating activities was $63.9 million, compared to $59.4 million a year ago [9] Management Commentary - Management indicated that the start to fiscal 2025 was consistent with expectations, highlighting continued momentum in the Diagnostics & Spatial Biology segment and strong results in the cell and gene therapy business [11]