Bio-Techne Q4 Adj. Profit Rises

(RTTNews) - Bio-Techne Corp. (TECH) reported that its fourth quarter adjusted EPS increased to $2.05 from $1.88, last year, an increase of 9%. Net earnings attributable to Bio-Techne increased to $61.52 million from $14.96 million, prior year. GAAP EPS was $1.51 compared to $0.37.

Net sales for the fourth quarter increased 11% to $288.2 million. Organic growth was 14% compared to the prior year.

Bio-Teche also announced Chuck Kummeth's planned two-year transition from his position as CEO, effective June 30, 2024. The Board has begun its search for Kummeth's replacement to assume the CEO position at the end of fiscal 2024.

Bio-Techne also announced that its Board has decided to pay a dividend of $0.32 per share for the quarter ended June 30, 2022. The quarterly dividend will be payable August 29, 2022, to all common shareholders of record on August 15, 2022.

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