10-Q Filing

BIO-TECHNE CORP CIK: 842023 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001437749-17-018898`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	tech-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 42 Cash Flow Statement 76 Comprehensive Income 2

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$696.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.59M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.24M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$50.26M	USD	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$66.10M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.36M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,329 and $696, respectively	`AccountsReceivableNetCurrent`	$107.33M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	37.41M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,329 and $696, respectively	`AccountsReceivableNetCurrent`	$116.83M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.41M	shares	Point-in-time
Inventories	`InventoryNet`	$66.53M	USD	Point-in-time
Inventories	`InventoryNet`	$60.15M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	37.36M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.33M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$307.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$348.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$135.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$136.85M	USD	Point-in-time
Goodwill	`Goodwill`	$579.03M	USD	Point-in-time
Goodwill	`Goodwill`	$587.78M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$451.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$452.04M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$44.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$44.57M	USD	Point-in-time
Total assets	`Assets`	$1.56B	USD	Point-in-time
Total assets	`Assets`	$1.53B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$16.86M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$15.08M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$22.74M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$26.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$19.43M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$18.52M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.37M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.97M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$3.50M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.48M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$40.90M	USD	Point-in-time
Contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$65.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$135.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$107.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$120.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$116.78M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$337.50M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtAndCapitalLeaseObligations`	$343.77M	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$3.30M	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.40M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.25M	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,409,328 and 37,356,041, respectively	`CommonStockValue`	$374.00K	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,409,328 and 37,356,041, respectively	`CommonStockValue`	$374.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$206.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$199.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$802.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$799.03M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-49.76M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-48.94M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$959.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$949.63M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.56B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.53B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$130.58M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$144.61M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$43.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.74M	USD	1 Quarter
Gross margin	`GrossProfit`	$97.87M	USD	1 Quarter
Gross margin	`GrossProfit`	$87.34M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$45.42M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$58.29M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$12.77M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$13.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$58.19M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$29.16M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-1.37M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-3.06M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.79M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$22.97M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$7.10M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$8.94M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$18.84M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$18.84M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.97M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.23M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments, net of tax of $4,576 and $(171), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$9.71M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments, net of tax of $4,576 and $(171), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-7.79M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$6.48M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-824.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.04M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$25.32M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	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`	37.38M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.28M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.47M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$18.84M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$18.84M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.64M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.42M	USD	3 Qtrs
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$1.34M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$318.00K	USD	3 Qtrs
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$1.34M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.18M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.17M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.19M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.79M	USD	3 Qtrs
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$1.90M	USD	3 Qtrs
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$7.50M	USD	3 Qtrs
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$-1.25M	USD	1 Quarter
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$277.00K	USD	3 Qtrs
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$-1.25M	USD	3 Qtrs
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$10.18M	USD	3 Qtrs
Trade accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-9.55M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.41M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$5.45M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-605.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-48.00K	USD	3 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-563.00K	USD	3 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.13M	USD	3 Qtrs
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.37M	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-6.37M	USD	3 Qtrs
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-3.63M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.95M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.95M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.75M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.22M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.70M	USD	3 Qtrs
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$253.19M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.63M	USD	3 Qtrs
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$253.19M	USD	3 Qtrs
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	-	USD	3 Qtrs
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$3.50M	USD	3 Qtrs
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	3 Qtrs
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$6.84M	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.27M	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.44M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.40M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-262.47M	USD	3 Qtrs
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.93M	USD	3 Qtrs
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.96M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$3.81M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$2.03M	USD	3 Qtrs
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-253.00K	USD	3 Qtrs
Excess tax benefit from stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	3 Qtrs
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	$343.50M	USD	3 Qtrs
Borrowings under line-of-credit agreement	`ProceedsFromLongTermLinesOfCredit`	-	USD	3 Qtrs
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$6.00M	USD	3 Qtrs
Payments on line-of-credit	`RepaymentsOfLinesOfCredit`	$91.51M	USD	3 Qtrs
Payments of Contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	3 Qtrs
Payments of Contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$35.00M	USD	3 Qtrs
Other financing	`ProceedsFromPaymentsForOtherFinancingActivities`	$-171.00K	USD	3 Qtrs
Other financing	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.80M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$242.16M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.95M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-563.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-485.00K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-563.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.15M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.35M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	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`	$91.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.24M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	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`	$91.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$72.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.24M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Unrealized gains and losses on availiable-for-sale investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$4.58K	USD	1 Quarter
Unrealized gains and losses on availiable-for-sale investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-171.00	USD	1 Quarter

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