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BIO-TECHNE RELEASES FIRST QUARTER FISCAL 2025 RESULTS
MINNEAPOLIS, Oct. 30, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today reported its financial results for the first quarter ended September
About this update from Bio-techne Corp
[{"type":"text","content":"MINNEAPOLIS, Oct. 30, 2024 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today reported its financial results for the first quarter ended September 30, 2024.\nFirst Quarter FY2025 Highlights\nFirst quarter organic revenue increased by 4% (5% reported) to $289.5 million. GAAP earnings per share (EPS) was $0.21 versus $0.31 one year ago. Delivered adjusted EPS of $0.42 compared to $0.41 one year ago. Continued adoption and utilization across the Diagnostics & Spatial Biology (\"DSS\"), formerly Diagnostics & Genomics, portfolio led to 14% organic segment growth (14% reported). Continued uptake of our cell and gene therapy workflow solutions, including strong growth in our GMP reagent offerings.The Company's financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP). Adjusted diluted EPS, adjusted net earnings, adjusted gross margin, adjusted operating income, adjusted tax rate, organic growth, adjusted operating margin, earnings before interest, taxes, depreciation, and amortization (EBITDA), and adjusted EBITDA are non-GAAP measures that exclude certain items detailed later in this press release under the heading \"Use of non-GAAP Adjusted Financial Measures.\" A reconciliation of GAAP to non-GAAP financial measures is included in this press release.\n\"The start to fiscal 2025 was largely consistent with our expectations, as a high-level of execution by the Bio-Techne team drove continued momentum across our Diagnostics & Spatial Biology segment,\" said Kim Kelderman, President and Chief Executive Officer of Bio-Techne. \"This was augmented by strong results in our cell and gene therapy business, including robust growth in our GMP reagent portfolio. The strength in cell and gene therapy, combined with favorable year-to-date funding dynamics, gives us increased confidence in the forthcoming recovery in our biotech end market.\"\nKelderman added, \"Our growth pillars, as well as our core portfolio, continue to outperform in what has proven to be a prolonged period of challenges facing the industry. The high value this novel portfolio brings to our research and clinical diagnostics customers positions the business for an even stronger future. We remain focused on delivering the solutions our customers rely on to catalyze advances in science and medicine while cr...