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TECHNE CORPORATION UNAUDITED FIRST QUARTER RESULTS FOR FISCAL YEAR 1992

TECHNE CORPORATION UNAUDITED FIRST QUARTER RESULTS FOR FISCAL YEAR 1992
 MINNEAPOLIS, Nov. 13 /PRNewswire/ -- For the three months ended Sept. 30, 1991, Techne's (NASDAQ: TECH) consolidated revenues were $5,224,949, net loss after provision for income taxes was $170,226 and loss per share was 1.9 cents. Compared to the first quarter of FY91 revenues increased by $1,213,294 (30 percent) and earnings after tax decreased by $369,202.
 The primary difference between the results of the first quarter of FY91 and FY92 was the accrual of the expected loss on the sale of Techne's Hycel S.A. subsidiary. On Oct. 1, 1991, Techne sold Hycel S.A. to Groupe Lisabio, a French company. The anticipated loss of $307,000 and income taxes of $94,000 anticipated on the taxable gain from the sale are included in the results for the first quarter of FY92.
 Techne Corporation has two operating subsidiaries: Research and Diagnostic Systems (R&D Systems) of Minneapolis; and Hycel S.A. located in France. R&D Systems is a specialty manufacturer of biological products and Hycel manufactures and distributes various laboratory instruments and reagents which are sold to hospitals, clinical, and physician laboratories in Europe.
 TECHNE CORPORATION SELECTED FINANCIAL HIGHLIGHTS
 First Quarter Ended
 9/30/91 9/30/90
 (Unaudited) (Audited)
 Revenues $5,224,949 $4,011,655
 Percent change 30.24 --
 Operating result 50,774 336,976
 Tax provision 221,000 138,000
 Net income (loss) $(170,226) $198,976
 Net/share $(.019) $.023
 -0- 11/13/91
 /CONTACT: Lea Simoane of Techne Corporation, 612-379-8854/
 (TECH) CO: Techne Corporation ST: Minnesota IN: SU: ERN DS -- MN005 -- 3813 11/13/91 09:50 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 13, 1991
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