Bio-Techne Corp (TECH) Q2 2019 Earnings Conference Call Transcript
Logo of jester cap with thought bubble.
Logo of jester cap with thought bubble.

In This Article:

Image source: The Motley Fool.

Bio-Techne Corp (NASDAQ: TECH)
Q2 2019 Earnings Conference Call
Feb. 05, 2019, 9:00 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the Bio-Techne Earning Conference Call for the Second Quarter of Fiscal Year 2019. At this time, all participants have been placed in a listen-only mode and the call will be opened to the questions following management's prepared remarks.

I'd now like to turn the call over to Mr. Jim Hippel, Bio-Techne's Chief Financial Officer.

Jim Hippel -- Chief Financial Officer

Good morning, and thank you for joining us. On the call with me this morning is Chuck Kummeth, Chief Executive Officer of Bio-Techne. Before we begin, let me briefly cover our Safe Harbor statement. Some of the comments made during this conference call may be considered forward-looking statements, including beliefs and expectations about the Company's future results. The Company's 10-K for fiscal year 2018 identify certain factors that could cause the Company's actual results to differ materially from those projected in the forward-looking statements made during this call. The Company does not undertake to update any forward-looking statements as a result of any new information or future events or developments. The 10-K as well as the Company's other SEC filings are available on the Company's website within its Investor Relations section.

During the call, non-GAAP financial measures may be used to provide information pertinent to ongoing business performance. Tables reconciling these measures to most comparable GAAP measures are available in the Company's press release issued earlier this morning on the Bio-Techne Corporation website at www.bio-techne.com.

I'll now turn the call over to Chuck.

Charles Kummeth -- President and Chief Executive Officer

Thanks, Jim, and good morning, everyone. Thanks for joining us for our second quarter conference call. I'm happy to report that the strength in our core businesses that we experienced back in Q1 of our fiscal year '19 continued in the second quarter. The Company delivered 11% organic growth in the quarter, led again by our Protein Sciences segment with a stellar 14% organic growth for the second quarter in a row.

What makes Q2 even more impressive than Q1, however, is the much stronger comps we faced this quarter. You may recall last year, the overall Company organically grew 14% in Q2, while the Protein Sciences segment grew 15%. This quarter marks the first time Bio-Techne has organically lapped double-digit growth with double-digit growth. Our strategic plan first rolled out five years ago had a long-term goal for the Company to be a perennial double-digit grower. It is satisfying for my team including all of the employees of Bio-Techne to have reached this important milestone. And by continuing to meticulously execute in our strategy, we believe we are still at the beginning of our growth journey.