Neogen’s Animal Safety Division: 39% Increase In Q1
Neogen Corp.’s animal safety division reported revenue of $20.7 million for its first quarter ended Aug. 31, up 39 percent from revenue of $14.9 million in the year-ago period.
While the April acquisition of the GeneSeek agricultural genetics laboratory service business contributed significantly to the quarter-over-quarter revenue gain, a number of core product lines experienced significant revenue increases compared to the previous year, according to Neogen.
Sales of Neogen’s Ideal veterinary instruments increased by 35 percent in the first quarter compared to the year-ago period, sales of veterinary surgical supply products increased about 10 percent and sales of veterinary supplements increased 57 percent.
Overall, the Lansing, Mich.-based company reported net income of $5.8 million on revenue of $42.9 million for its first quarter, compared to net income of $4.4 million on revenue of $32.3 million in the year-ago period.