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TECHNE CORPORATION RELEASES UNAUDITED FIRST QUARTER RESULTS FOR FISCAL YEAR 1994

 MINNEAPOLIS, Oct. 21 /PRNewswire/ -- For the three months ended Sept. 30, 1993, Techne's (NASDAQ-NMS: TECH) consolidated revenues were $9,427,870, net income after provision for income taxes was $1,097,764 and earnings per share were 11 cents. Compared to the first quarter of FY93, revenues increased by $3,085,310 (49 percent) and earnings after tax increased by $157,566.
 The increase in revenues was primarily the result of the acquisition of an English subsidiary, R&D Europe, in July 1993. Revenues for this subsidiary for the quarter were $2,220,794. Revenues for Techne's other subsidiary, R&D Systems, increased $1,627,303 (26 percent) on an unconsolidated basis, mainly as a result of increases in sales of its Biotechnology Division products. R&D Systems, revenues, net of intercompany sales to R&D Europe, increased $864,516.
 R&D Systems' earnings after tax increased $257,928 (25 percent) from the first quarter of FY93, primarily due to increases in its Biotechnology Division sales and profitability. This increase was partially offset by a slight loss by R&D Europe for the quarter and an increase in corporate related expenses.
 Techne Corporation has two operating subsidiaries: Research and Diagnostic Systems, Inc. (R&D Systems) of Minneapolis and R&D Systems Europe, Ltd. (R&D Europe) of Abingdon, England. R&D Systems is a specialty manufacturer of biological products and R&D Europe is a manufacturer and distributor of biotechnology products.
 TECHNE CORPORATION
 SELECTED FINANCIAL HIGHLIGHTS
 QUARTERS ENDED
 9/30/93 9/30/92
 FIRST QUARTER
 Revenues $9,427,870 $6,342,560
 Percent change 49
 Operating result 1,557,764 1,376,198
 Tax provision 460,000 436,000
 Net income $1,097,764 $940,198
 Net/share $.11 $.10
 Wt. Avg. Shares 9,551,580 9,274,625
 -0- 10/21/93
 /CONTACT: Lea Simoane of Techne Corporation, 612-379-8854/
 (TECH)


CO: Techne Corporation ST: Minnesota IN: CPR MTC SU: ERN

DB-DS -- MN026 -- 5388 10/21/93 15:37 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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