10-Q Filing

BIO-TECHNE CORP CIK: 842023 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-020233`
Period End Date	20150930
Filing Date	20151109
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	tech-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 40 Cash Flow Statement 60 Comprehensive Income 2

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$555.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$500.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$98.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$318.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.53M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.18M	shares	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$56.39M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.15M	shares	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$38.42M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.15M	shares	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.18M	shares	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $500 and $555, respectively	`AccountsReceivableNetCurrent`	$70.92M	USD	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $500 and $555, respectively	`AccountsReceivableNetCurrent`	$70.03M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockNoParValue`	$0.10	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockNoParValue`	$0.10	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$954.00K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$972.00K	USD	Point-in-time
Inventories	`InventoryNet`	$49.58M	USD	Point-in-time
Inventories	`InventoryNet`	$58.97M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.20M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.29M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$16.68M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$11.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$241.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$248.28M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$129.75M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$132.85M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$325.40M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$292.84M	USD	Point-in-time
Goodwill	`Goodwill`	$427.32M	USD	Point-in-time
Goodwill	`Goodwill`	$390.64M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.85M	USD	Point-in-time
Assets	`Assets`	$1.13B	USD	Point-in-time
Assets	`Assets`	$1.06B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$13.18M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$13.44M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$10.34M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$9.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.54M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.97M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$8.44M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$3.84M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$3.38M	USD	Point-in-time
Related party note payable, current	`NotesPayableRelatedPartiesClassifiedCurrent`	$3.87M	USD	Point-in-time
Related party note payable, current	`NotesPayableRelatedPartiesClassifiedCurrent`	$4.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$61.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$77.82M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$164.37M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$112.02M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.15M	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,182,381 and 37,152,979, respectively	`CommonStockValue`	$372.00K	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,182,381 and 37,152,979, respectively	`CommonStockValue`	$371.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$166.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$724.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$713.85M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.59M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-53.62M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$846.93M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$837.95M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$1.06B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$112.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$108.48M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$36.99M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$35.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$75.39M	USD	1 Quarter
Gross margin	`GrossProfit`	$73.07M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$28.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$33.04M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$11.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$9.15M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$37.85M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$31.03M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$818.00K	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-618.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.85M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$34.60M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$10.69M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$9.14M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$22.71M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$23.91M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.90M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.10M	USD	1 Quarter
Unrealized losses on available-for-sale investments, net of tax of ($3,752) and ($100), respectively	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-10.12M	USD	1 Quarter
Unrealized losses on available-for-sale investments, net of tax of ($3,752) and ($100), respectively	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-8.49M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-23.02M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-17.59M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$6.32M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-314.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.61	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.64	USD	1 Quarter
Cash dividends per common share: (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.32	USD	1 Quarter
Cash dividends per common share: (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.31	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.17M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.01M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.31M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$22.71M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$23.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.69M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$1.11M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$3.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.62M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.11M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.04M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.36M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-26.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-68.00K	USD	1 Quarter
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.76M	USD	1 Quarter
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-422.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.33M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.18M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$766.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.49M	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-416.00K	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$2.53M	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.70M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.20M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$35.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$31.83M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$82.97M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$360.18M	USD	1 Quarter
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$9.88M	USD	1 Quarter
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$3.93M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.12M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.91M	USD	1 Quarter
Distributions from unconsolidated entities	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$446.00K	USD	1 Quarter
Distributions from unconsolidated entities	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-85.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-354.75M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.47M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.89M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$1.13M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$1.86M	USD	1 Quarter
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$131.00K	USD	1 Quarter
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$78.00K	USD	1 Quarter
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	$77.00M	USD	1 Quarter
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	$125.00M	USD	1 Quarter
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$13.00M	USD	1 Quarter
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$24.50M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$41.87M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$102.47M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.77M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.76M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.69M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-220.33M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$98.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$318.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$48.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$98.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$318.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.53M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Unrealized losses on available-for-sale investments, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-3.75K	USD	1 Quarter
Unrealized losses on available-for-sale investments, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-100.00	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.