Neogen’s Animal Safety Division Sees 45% IncreaseApril 17, 2009 Neogen Corp.’s animal safety division recently reported revenue of $13.26 million for its first quarter ended Aug. 31, compared to revenue of $9.15 million in the year-ago period, representing a 45 percent increase. The increase included growth in products sold to veterinarians through ethical market channels, growth in products sold to large food animal producers and processors and a continued increase in sales of diagnostic products. The company also noted the resurgence of same-store sales growth within the division, especially within its Hacco subsidiary, which specializes in rodenticides and other bait formulations. Neogen’s food safety division reported revenue of $15.55 million for its first quarter, compared to revenue of $13.76 million in the year-ago period, representing a 13 percent increase. The increase was led by sales of diagnostic tests for food allergens—a 48 percent increase—driven by new customers and a number of high-profile food recalls related to food allergens. International sales accounted for 42 percent of total first quarter revenue and were helped by the June formation of Neogen’s new subsidiary in Mexico to enhance distribution of products in that country, and Central America. The company’s Scotland-based Neogen Europe subsidiary also continued …
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Neogen Corp. - 04-28-2008April 17, 2009 Neogen’s animal division recently reported revenue of $11.3 million for its third quarter ended Feb. 29, a 20 percent increase from $9.5 million in the year-ago period. The third quarter saw a 48 percent increase in sales of specialty needles and syringes to be used by manufacturers of veterinary supplements and pharmaceuticals. With the acquisition of Kane Enterprises last year, third-quarter sales of Neogen’s animal over-the-counter products increased 63 percent compared to the year-ago period. Year to date, the division reported revenue of $33.2 million, a 16 percent from $28.7 million in the year-ago period. Overall, Neogen reported net income of $2.7 million on revenue of $25.2 million for its third quarter, compared to net income of $2 million on revenue of $21.1 million in the year-ago period. Year to date, the company reported net income of $8.9 million on revenue of $75.3 million, compared to net income of $6.8 million on revenue of $63.5 million in the year-ago period. Neogen’s animal division is in Lexington, Ky. <HOME>
Financial Newswire 02-05-2008April 17, 2009PetMed Express Mail order pet pharmacy PetMed Express of Pompano Beach, Fla., reported a 60 percent increase in net income and a 19 percent increase in revenues for its third quarter ended Dec. 31 , driven in part by growth in its reorders and Internet sales. For the quarter, the company posted net income of $4.4 million on sales of $37.3 million, compared to net income of $2.8 million on sales of $31.4 million in the year-ago period. Year-to-date, the company posted net income of $15.1 million on sales of $147.9 million, compared to net income of $10.8 million on sales of $125.8 million in the year-ago period. Reorder sales grew 28 percent for the quarter to $28.4 million and 23 percent to $103.4 million for the nine-month period. Internet sales, which accounted for about 65 percent of PetMed’s revenues in the third quarter of 2007 compared to 63 percent in 2006, grew 23 percent to $24.4 million for the quarter and 24 percent to $96 million for the nine-month period. Internet and reorder sales boost the company’s profit margins as they allow the company to leverage operating costs. PetMed sales prescription and non-prescription …
VCA Antech Inc. - 02-05-2008April 17, 2009 Los Angeles-based VCA Antech Inc. recently reported preliminary financial results of $284 million for its fourth quarter ended Dec. 31 and year to date revenue of $1.16 billion. In addition to the acquisition of Healthy Pet Corp., which included 42 animal hospitals with annual revenue of about $80 million, VCA Antech acquired 29 individual animal hospitals with annual revenue of more than $57 million. “We believe that, historically, the animal healthcare industry and our business have been relatively resistant to changes in the general economy, but not immune to them,” said Bob Antin, chairman and chief executive officer. “However, the fourth quarter results appear to indicate that we were marginally impacted by the uncertainty in the economy. “In addition, the timing of the Christmas and New Year holidays, the California fires, the weather and competition also had an adverse impact on our results. As a result of these factors, during the fourth quarter, and particularly the second half of the quarter, our internal revenue growth slowed. Animal hospital same-store revenue growth for the fourth quarter of 2007 was 2.5 percent and laboratory internal revenue growth was 9.1 percent.” Year to date, animal hospital same-store revenue …
Still More Recall Questions Than AnswersApril 17, 2009 The Menu Foods Inc. pet-food recall, which began mid-March and has grown to include more than 100 brands, is still making headlines. The list continued to grow at press time, including the addition of the first ferret food: 8 in 1 Ferret Ultra-Blend Advanced Nutrition Diet. People have been concerned about what to feed their pets, says Ann Hohenhaus, DVM, Dipl. ACVIM, chair of the Department of Medicine at The Animal Medical Center in New York City. But if you look at the overall picture, she adds, only a small percentage of pet food has been recalled. “Most pet food is actually OK to feed your pet,” Dr. Hohenhaus says, adding that the real problem lies in the ongoing recall announcements. “People have anxiety because they pick a food that they think is safe, and then because it is a moving target, it may not be safe tomorrow,” she says. From Jan. 1 to March 31, AMC saw about 35 cases of nephrotoxicity, representing about half dogs and half cats, in which pets with kidney failure had eaten the recalled foods. Hohenhaus says that the hospital has seen deaths associated with the recall, but …
Snake X-ray Takes Top PrizeApril 17, 2009For the third year in a row, a snake radiograph has been named the winner of Vet Practice News' annual "They Ate WHAT?" radiograph contest featuring the odd things that animals have been known to ingest. And this was a snake to reckon with – a 12-foot-long, 65-pound Burmese phython that had not only consumed its dinner, a rabbit, but the electric blanket underneath the bunny. The annual contest is sponsored by Eklin Medical Systems of Santa Clara, Calif. Gregory Rich, DVM, of Metairie, La., is the veterinarian who the snake and posed for a photo of with the blanket. Elizabeth Boland, North Carolina State Class of 2008, was named winner in the student category for her radiograph of a dog that had swallowed a small stuffed dog—which she also radiographed. Both win single-lens reflex digital cameras. Dr. Rich won in the professional category, and Roland in the student category. "It was interesting to see the marked increase in digital radiographs this year compared to past contests," said Gary R. Cantu, president and chief executive officer of Eklin, which has sponsored the contest every year. "Even though a snake radiograph won for a third time, we always marvel at the …
United Front Tames The FlamesApril 17, 2009 The recent Southern California wildfires forced more than a half million people from their homes, many with their pets, and quickly consumed almost 800 square miles. At one point, at least 15 fires burned from Los Angeles’ San Fernando Valley south to the Mexican border. When fires of this great magnitude ignite, it takes preparedness and collaboration between veterinarians, animal control, pet owners, government agencies and other organizations to help ensure the safety of people and their pets. This is one reason the American Red Cross now partners with local animal control in setting up emergency shelters. When the Red Cross opens a shelter, it informs local animal control that more than likely it will have animal needs. Animal control then sets up a shelter adjoining the Red Cross shelter. The Southern California wildfires brought many types of animals to Red Cross shelters, including dogs, cats, snakes, birds and even fish, says Amy Hegy, public affairs manager of the San Diego chapter. “The initial concern for many of these evacuees is ‘What’s going to happen to my pet?’” Hegy says. “It was very comforting for people to know that …
Laparoscopic Spays Are Not Just For SpecialistsApril 17, 2009 Endoscopy has experienced significant growth among both specialty and general veterinary practitioners in recent years, and perhaps the greatest area of growth is in laparoscopic-assisted spays. As with many relatively new surgical procedures, the technique and its equipment have evolved rapidly to meet the needs of veterinarians. Jim Houchens, DVM, of Arvada Veterinary Hospital in Northern Denver, says that adding laparoscopic-assisted spays to his practice’s arsenal of offerings has helped him to attract new clients. “For established veterinarians like me, the procedure is a terrific cure for burnout,” he says. “For younger veterinarians, it’s a way of whetting their appetite for the skills and technology that will be coming down the pipeline.” The clinical advantages of the laparoscopic-assisted ovariohysterectomy technique were established in a study published in the Journal of the American Veterinary Medical Assn. in 2005. For the study, Chad Devitt, DVM, MS, Dipl. ACVS, of the Veterinary Referral Center of Colorado, worked with Ray Cox, DVM, of the Deer Creek Animal Hospital, and Jim Hailey, DVM, of the Redstone Animal Hospital in Littleton, Colo., to compare traditional OHE with a laparoscopic-assisted OHE using two portals. The study found that dogs spayed using …
Companies That Offer DR TechnologyApril 17, 2009 For information about digital radiography equipment, contact these providers: AFP Imaging Corp. www.imageworkscorporation.com/ (800) 592-6666 All-Pro Imaging www.allproimaging.com (888) 247-8481 Diagnostic Imaging Systems www.vetxray.com (800) 346-9729 Eklin Medical Systems Inc. www.soundeklin.com (800)-268-5354 InnoVet www.innovetpet.com/ (888) 269-3154 Quantum Medical Imaging www.quantummedical.net (631) 567-5800 RF System Lab http://www.rfsystemlab.com/en/ Sedecal USA Inc www.vetray.com (800) 920-9525 Vetel Diagnostics www.veteldiagnostics.com (800) 458-8890 **Seen in the September 2007 issue of Veterinary Practice News** <HOME>
Vet Pay Up; Gender Gap RemainsApril 17, 2009 The mean professional income of veterinarians in private practice hit $115,447 in 2007, with a $91,000 median, up 4.6 percent annually from 2005 figures, the American Veterinary Medical Assn. says in a new report. However, the AVMA’s 2009 “Report on Veterinary Compen-sation” and “Report on Veteri-nary Practice Business Mea-sures” show that growth may be slowing, with salaries for clinical practitioners up 19.8 percent from 2003 to 2007, compared to 28.8 percent from 1997 to 2001. From 1997 to 2007, private practitioners averaged annual income growth of 5.9 percent. “According to our latest biennial economic survey, veterinary incomes are up across the board, but some sectors are doing better than others,” said W. Ron DeHaven, DVM, MBA, chief executive officer of the AVMA. “Salaries are growing at a higher rate than inflation, which is good news. But we need to further explore the disparities in what veteri-narians earn based on their type of employment and even their gender.” The compensation report showed that female veterinarians in private practice had a mean annual income of $91,551 ($79,000 median), one-third less than the $138,633 mean ($109,000 median) salary for male veterinarians in private practice. Male veterinarians, …
