10-Q Filing

BIO-TECHNE CORP CIK: 842023 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001437749-18-019736`
Period End Date	20180930
Filing Date	20181107
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tech-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 40 Cash Flow Statement 72

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$839.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$72.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$121.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.67M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$402.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$59.76M	USD	Point-in-time
Short-term available-for-sale investments	`AvailableForSaleSecuritiesCurrent`	$69.05M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,007 and $839, respectively	`AccountsReceivableNetCurrent`	$120.30M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $1,007 and $839, respectively	`AccountsReceivableNetCurrent`	$114.75M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.61M	shares	Point-in-time
Inventories	`InventoryNet`	$90.92M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.80M	shares	Point-in-time
Inventories	`InventoryNet`	$85.65M	USD	Point-in-time
Inventories	`InventoryNet`	$85.65M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.67M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.80M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.61M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$383.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$398.37M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$145.35M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$146.51M	USD	Point-in-time
Goodwill	`Goodwill`	$704.79M	USD	Point-in-time
Goodwill	`Goodwill`	$597.89M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$446.33M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$632.69M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.27M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.10M	USD	Point-in-time
Total assets	`Assets`	$1.87B	USD	Point-in-time
Total assets	`Assets`	$1.59B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$18.26M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$18.45M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$15.18M	USD	Point-in-time
Salaries, wages and related accruals	`EmployeeRelatedLiabilitiesCurrent`	$23.71M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$23.51M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$20.36M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$8.11M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$8.76M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$8.88M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$5.23M	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtCurrent`	$12.50M	USD	Point-in-time
Current portion of long-term debt obligations	`LongTermDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$83.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.51M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$113.84M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$86.29M	USD	Point-in-time
Long-term debt obligations, net of deferred financing costs of $402 and $0, respectively	`LongTermDebtAndCapitalLeaseObligations`	$339.00M	USD	Point-in-time
Long-term debt obligations, net of deferred financing costs of $402 and $0, respectively	`LongTermDebtAndCapitalLeaseObligations`	$548.97M	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$6.80M	USD	Point-in-time
Long-term contingent consideration payable	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.67M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.34M	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,802,998 and 37,607,500, respectively	`CommonStockValue`	$376.00K	USD	Point-in-time
Common stock, par value $.01 per share; authorized 100,000,000; issued and outstanding 37,802,998 and 37,607,500, respectively	`CommonStockValue`	$378.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$246.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$274.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$876.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$905.14M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-44.81M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-70.63M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.11B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.59B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.87B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$144.61M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$162.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$46.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$55.37M	USD	1 Quarter
Gross margin	`GrossProfit`	$107.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$97.87M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$58.29M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$67.05M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$13.55M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$14.79M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$81.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$71.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.76M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-3.06M	USD	1 Quarter
Other (expense) income	`NonoperatingIncomeExpense`	$-8.18M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$22.97M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.59M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$183.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$7.10M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$17.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.97M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.14M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-7.79M	USD	1 Quarter
Unrealized gains and losses on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-824.00K	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.14M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$15.04M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.27M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	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`	37.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.38M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.81M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.70M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$17.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.42M	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$318.00K	USD	1 Quarter
Costs recognized on sale of acquired inventory	`FairValueWriteUpOfAcquiredInventory`	$935.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.18M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.77M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$11.56M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.79M	USD	1 Quarter
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$7.50M	USD	1 Quarter
Fair value adjustment to contingent consideration payable	`FairValueAdjustmentToContingentConsiderationPayable`	$-200.00K	USD	1 Quarter
Fair value adjustment on available for sale investments	`FairValueAdjustmentOnAvailableForSaleSecurities`	-	USD	1 Quarter
Fair value adjustment on available for sale investments	`FairValueAdjustmentOnAvailableForSaleSecurities`	$2.20M	USD	1 Quarter
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$277.00K	USD	1 Quarter
Other operating activity	`OtherOperatingActivitiesCashFlowStatement`	$2.22M	USD	1 Quarter
Trade accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-8.31M	USD	1 Quarter
Trade accounts and other receivables, net	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-9.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.45M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.68M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidExpense`	$-48.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.35M	USD	1 Quarter
Trade accounts payable, accrued expenses, and contract liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-563.00K	USD	1 Quarter
Trade accounts payable, accrued expenses, and contract liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.11M	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-3.63M	USD	1 Quarter
Salaries, wages and related accruals	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.48M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.86M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.45M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.70M	USD	1 Quarter
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	-	USD	1 Quarter
Proceeds from maturities of available-for-sale investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$3.50M	USD	1 Quarter
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Purchases of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$11.69M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.19M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.27M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$272.23M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$10.63M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-288.11M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$11.96M	USD	1 Quarter
Cash dividends	`PaymentsOfDividendsCommonStock`	$12.07M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$3.81M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$16.45M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$580.00M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$357.12M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$6.00M	USD	1 Quarter
Payments of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	1 Quarter
Payments of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$35.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$3.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Other financing activity	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.73M	USD	1 Quarter
Other financing activity	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.80M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$222.53M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.95M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.18M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-485.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.15M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-27.32M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$72.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.67M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$121.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$94.67M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$91.61M	USD	Point-in-time
Cash paid for income taxes	`InterestPaidNet`	$8.45M	USD	1 Quarter
Cash paid for income taxes	`InterestPaidNet`	$6.07M	USD	1 Quarter
Cash paid for interest	`IncomeTaxesPaid`	$2.14M	USD	1 Quarter
Cash paid for interest	`IncomeTaxesPaid`	$3.23M	USD	1 Quarter

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