MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Techne Corp. (TECH) on Wednesday reported a loss of $17.7 million in its fiscal fourth quarter.
The Minneapolis-based company said it had a loss of 11 cents per share. Earnings, adjusted for research and development costs and amortization costs, were 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The maker of medical testing and diagnostic products posted revenue of $317 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $315.4 million.
For the year, the company reported profit of $73.4 million, or 46 cents per share. Revenue was reported as $1.22 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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