Neogen Corp. – 04-28-2008

A third quarter profit of $11.3 million has been reported by Neogen Corp.

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.

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