Neogen Reports Increased Q4 Revenue For Animal Safety Division
Neogen Corp.’s Animal Safety Division reported revenue of $15 million in the fourth quarter ended May 31, compared to $11.5 million in the year-ago period.
Year to date, the division had revenue of $57.7 million, compared to $44.8 million in the year-ago period.
The Lansing, Mich., company noted that the successful integration of the acquired DuPont line of disinfectants and cleaners and IDS drug-residue diagnostics contributed to the majority of the revenue growth for the year.
Sales of the DuPont products exceeded first-year expectations by more than 10 percent, according to Neogen.
Sales of existing product lines achieved organic growth of 6 percent in the fourth quarter and 4 percent for the year.
Domestic sales of Neogen’s line of rodenticides saw growth of 11 percent for the year, led by market share gains in argonomic markets.
Sales of Neogen’s Kare line of small-animal supplements rose more than 40 percent.
Overall, Neogen reported fourth-quarter net income of $3.4 million on revenue of $30.9 million, compared to $3.2 million and $27.1 million, respectively, in the year-ago period.
Year to date, the company reported net income of $13.9 million on revenue of $118.7 million, compared to $12.1 million and $102.4 million, respectively, in the year-ago period.