Neogen Corp. Revenue Up

A $9.15 million first quarter profit has been reported by Neogen Corp.

Neogen Corp.’s animal division reported revenue of $9.15 million for its first quarter ended Aug. 31, compared to revenue of $8.83 million in the year-ago period.

In addition to international sales of rodenticides, the division’s growth was spurred by increases in sales of diagnostic tests for drug residues and of veterinary instruments. Sales of tests to detect drugs of abuse in racing animals increased 26 percent and sales of tests and equipment for forensic drug detection were up more than 30 percent.

Veterinary instrument sales to over-the-counter markets and veterinarians saw a 15 percent sales increase.

Overall, Neogen reported net income of $3.01 million on revenue of $22.91 million for its first quarter, compared to net income of $2.41 million on revenue of $20.22 million in the year-ago period.

Neogen is based in Lansing, Mich.

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