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TECHNE CORPORATION RELEASES UNAUDITED THIRD QUARTER OPERATING RESULTS FOR FISCAL YEAR 1992

 TECHNE CORPORATION RELEASES UNAUDITED THIRD QUARTER
 OPERATING RESULTS FOR FISCAL YEAR 1992
 MINNEAPOLIS, April 27 /PRNewswire/ -- For the three months ended March 31, 1992, Techne's (NASDAQ: TECH) consolidated revenues were $5,879,283, net income after provision for income taxes was $742,378 and earnings per share were 8 cents. Compared to the third quarter of FY91 revenues increased by $473,235 (9 percent) and earnings after tax increased by $263,720 (55 percent). Revenues for Techne's R & D Systems subsidiary increased $2,029,114 (53 percent) and earnings after tax increased $354,723 (81 percent) from the third quarter of FY91. These significant increases were offset by a decrease in revenues and earnings as a result of the sale of Techne's Hycel S.A. subsidiary on Oct. 1, 1991. Hycel's revenues and after-tax income for the third quarter of FY91 were $1,555,879 and $73,340, respectively.
 For the nine months ended March 31, 1992, Techne had after-tax income of $868,880 on revenues of $15,994,312 and earnings per share of 9 cents. Compared to the first nine months of FY91 revenues increased $1,805,895 (13 percent) and earnings after tax decreased $126,811. Revenues for R & D Systems increased $5,365,030 (57 percent) and earnings after tax increased $594,512 (65 percent) for the nine months. These increases were offset by the loss of Hycel revenues and after-tax earnings in the second and third quarters of $3,525,852 and $254,840 respectively, and the one-time loss recorded on the sale of Hycel of $307,000, plus income taxes on the sale of $94,000.
 Techne's R & D Systems subsidiary's growth in revenues and pretax earnings exceeded those lost due to the sale of Hycel. The reduction in after-tax earnings for the nine months ended March 31, 1992, was primarily attributable to a $306,000 (86 percent) increase in income taxes on R & D Systems operations.
 Techne Corporation has one operating subsidiary: Research and Diagnostic Systems (R & D Systems) of Minneapolis. R & D Systems is a specialty manufacturer of biological products.
 TECHNE CORPORATION
 Selected Financial Highlights
 Quarter and Nine Months Ended
 March 31, 1992 and 1991
 (Unaudited)
 Third Quarter 3/31 1992 1991
 Revenues $5,879,283 $5,406,048
 Percent change 9 --
 Operating result 1,114,378 685,658
 Tax provision 372,000 207,000
 Net income 742,378 478,658
 Percent change 55 --
 Net/share $.08 $.06
 Weighted average shares 9,252,660 8,680,600
 Nine Months 3/31 1992 1991
 Revenues $15,994,312 $14,188,417
 Percent change 13 --
 Operating result 1,625,880 1,352,691
 Tax provision 757,000 357,000
 Net income 868,880 995,691
 Percent change (13) --
 Net/share $.09 $.12
 Weighted average shares 9,164,421 8,627,817
 -0- 4/27/92
 /CONTACT: Lea Simoane of Techne, 612-379-8854/
 (TECH) CO: Techne Corporation ST: Minnesota IN: SU: ERN


AL -- MN013 -- 3202 04/27/92 13:05 EDT
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Date:Apr 27, 1992
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