Core Insights - Bio-Techne Corporation (TECH) reported first-quarter fiscal 2026 adjusted earnings per share (EPS) of 42 cents, matching the Zacks Consensus Estimate, with the bottom line remaining flat year-over-year [1][9] - The company's net sales for the quarter were $286.6 million, down 1% year-over-year, missing the Zacks Consensus Estimate by 0.9%, leading to a 7.5% drop in shares during pre-market trading [3][9] Financial Performance - GAAP loss per share was 24 cents compared to EPS of 21 cents in the prior-year quarter [2] - Gross profit increased by 2.8% to $188.1 million, with gross margin expanding by 242 basis points to 65.6% due to a 7.5% decrease in the cost of sales [6][9] - Operating profit for the quarter was $47.7 million, up from $40 million in the year-ago quarter, with an operating margin expansion of 282 basis points to 16.6% [7][9] - Net cash provided by operating activities was $27.6 million, down from $63.9 million a year ago [10] Revenue Breakdown - In the Protein Sciences segment, revenues were $202.2 million, down 1% year-over-year (down 3% organically) [4] - The Diagnostics and Spatial Biology segment saw sales decrease by 4% year-over-year to $79.5 million, although it was up 3% organically [5] Market Position and Outlook - Despite the revenue decline, there are signs of stabilization in the U.S. academic market and continued strength among large pharmaceutical customers [11] - The expansion of both gross and operating margins is viewed as a positive indicator for the company's future performance [12]