Note 9 - Earnings Per Share

6 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 9. Earnings Per Share:

The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):

	Quarter Ended						Six Months Ended
	December 31,						December 31,
	2020			2019			2020			2019
Earnings per share – basic:
Net earnings, including noncontrolling interest	$	46,144			119,622			79,538			134,018
Less net earnings attributable to noncontrolling interest		(130	)		-			(130	)		-
Net earnings attributable to Bio-Techne	$	46,274		$	119,622		$	79,668		$	134,018
Income allocated to participating securities		(37	)		(172	)		(50	)		(258	)
Income available to common shareholders	$	46,237		$	119,450		$	79,618		$	133,760
Weighted-average shares outstanding – basic		38,691			38,167			38,614			38,100
Earnings per share – basic	$	1.20		$	3.13		$	2.06		$	3.51
Earnings per share – diluted:
Net earnings, including noncontrolling interest	$	46,144		$	119,622		$	79,538		$	134,018
Less net earnings attributable to noncontrolling interest		(130	)		-			(130	)		-
Net earnings attributable to Bio-Techne	$	46,274		$	119,622		$	79,668		$	134,018
Income allocated to participating securities		(37	)		(172	)		(50	)		(258	)
Income available to common shareholders	$	46,237		$	119,450		$	79,618		$	133,760
Weighted-average shares outstanding – basic		38,691			38,167			38,614			38,100
Dilutive effect of stock options and restricted stock units		1,566			1,383			1,521			1,270
Weighted-average common shares outstanding – diluted		40,257			39,550			40,135			39,370
Earnings per share – diluted	$	1.15		$	3.02		$	1.98		$	3.40

The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 1.6 million and 1.3 million for the quarter ended December 31, 2020 and 2019, respectively and 1.5 million and 1.3 million for the six months ended December 31, 2020 and 2019 respectively.