Techne 3Q profit jumps on boost in biotechnology sales
MINNEAPOLIS—Techne Corp., a maker of medical testing and diagnostic products, said Tuesday its fiscal third-quarter profit rose 24 percent on a jump in biotechnology sales and a boost from the weaker U.S. dollar.
For the three months ended March 31, the company earned $29.6 million or 76 cents per share, compared with profit of $23.9 million or 60 cents per share in the same quarter a year ago.
Revenue rose 15 percent to $69.5 million from $60.2 million.
Analysts polled by Thomson Financial expected profit of 66 cents per share on sales of $64.1 million.
Biotechnology research sales rose 17 percent to $39.1 million. Sales from the R&D Europe unit rose 16 percent to 20 million.
(This version corrects quarter throughout.)
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