MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Techne Corp. (TECH) on Wednesday reported fiscal fourth-quarter profit of $40.6 million.
The Minneapolis-based company said it had net income of 25 cents per share. Earnings, adjusted for one-time gains and costs, were 49 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The maker of medical testing and diagnostic products posted revenue of $306.1 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $308.1 million.
For the year, the company reported profit of $168.1 million, or $1.05 per share. Revenue was reported as $1.16 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TECH at https://www.zacks.com/ap/TECH
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