10-Q Filing

BIO-TECHNE CORP CIK: 842023 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-041541`
Period End Date	20160930
Filing Date	20161109
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	tech-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 40 Cash Flow Statement 62 Comprehensive Income 2

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$555.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$626.00K	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$48.84M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.53M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.30M	shares	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$31.60M	USD	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$52.38M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.25M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $626 and $555, respectively	`AccountsReceivableNetCurrent`	$93.39M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.30M	shares	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.25M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $626 and $555, respectively	`AccountsReceivableNetCurrent`	$109.81M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockNoParValue`	$0.01	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockNoParValue`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$70.52M	USD	Point-in-time
Inventories	`InventoryNet`	$57.10M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.85M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$7.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$253.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$310.15M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$133.81M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$132.36M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$503.63M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$310.52M	USD	Point-in-time
Goodwill	`Goodwill`	$430.88M	USD	Point-in-time
Goodwill	`Goodwill`	$565.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.92M	USD	Point-in-time
Assets	`Assets`	$1.52B	USD	Point-in-time
Assets	`Assets`	$1.13B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$14.18M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$20.65M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$14.87M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$10.11M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$19.97M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.37M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$49.90M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.78M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$4.65M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$4.48M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$4.72M	USD	Point-in-time
Related party note payable, current	`NotesPayableRelatedPartiesClassifiedCurrent`	$3.76M	USD	Point-in-time
Related party note payable, current	`NotesPayableRelatedPartiesClassifiedCurrent`	$3.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$107.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$54.15M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$135.51M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$62.84M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$130.00M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$343.50M	USD	Point-in-time
Fair value contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	-	USD	Point-in-time
Fair value contingent consideration	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$32.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.65M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.32M	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,301,380 and 37, 253,771, respectively	`CommonStockValue`	$373.00K	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,301,380 and 37, 253,771, respectively	`CommonStockValue`	$372.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$178.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$184.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$770.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$774.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-63.92M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-70.41M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$895.37M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$879.28M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$130.58M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$112.38M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.11M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$36.99M	USD	1 Quarter
Gross margin	`GrossProfit`	$75.39M	USD	1 Quarter
Gross margin	`GrossProfit`	$84.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$33.04M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$46.26M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$11.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$12.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$59.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.44M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$31.03M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$818.00K	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-1.31M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.13M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.85M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$9.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$7.84M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$22.71M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$16.28M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.23M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.90M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments, net of tax of ($171) and $3,752, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-10.12M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments, net of tax of ($171) and $3,752, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$9.71M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$-23.02M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTax`	$6.48M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$22.76M	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`	$0.44	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.61	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`	$0.32	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.17M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.28M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.31M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.47M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$22.71M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$16.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.69M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.64M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$1.11M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$4.22M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.11M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.18M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.04M	USD	1 Quarter
Fair value adjustment to contingent consideration payable	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$1.90M	USD	1 Quarter
Fair value adjustment to contingent consideration payable	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-26.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-262.00K	USD	1 Quarter
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.76M	USD	1 Quarter
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$10.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.41M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.18M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$766.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-605.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.13M	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-416.00K	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.26M	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.70M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.85M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$26.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$31.83M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$259.00M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$82.97M	USD	1 Quarter
Proceeds from available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$3.93M	USD	1 Quarter
Proceeds from available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	-	USD	1 Quarter
Purchases of available for sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Purchases of available for sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$6.84M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.44M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.12M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-85.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-268.28M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.93M	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`	$2.03M	USD	1 Quarter
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-131.00K	USD	1 Quarter
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-253.00K	USD	1 Quarter
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	$343.50M	USD	1 Quarter
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	$77.00M	USD	1 Quarter
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$24.50M	USD	1 Quarter
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$91.51M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$41.87M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$242.33M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.25M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.77M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.69M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.35M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.24M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$48.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.59M	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`	$64.24M	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`	$69.59M	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	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-171.00	USD	1 Quarter
Unrealized losses on available-for-sale investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$3.75K	USD	1 Quarter

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