Biotechnology company Bio-Techne Corporation (NASDAQ: TECH) on Wednesday announced financial results for the fourth quarter of 2024, reporting a decline in profit.
- Fourth-quarter organic revenue edged up 1% to $306.1 million; net sales moved up 2% during the three months
- Earnings per share, including special items, dropped to $0.25 in Q4 from $0.47 last year; adjusted earnings declined to $0.49 per share from $0.55 in Q4 2023
- Operating income for the fourth quarter decreased 52% to $45.8 million from $94.5 million a year earlier
- Q4 operating margin declined to 15.0% from 31.4% in the prior-year quarter, hurt mainly by impairment of assets held-for-sale, restructuring, and CEO transition costs