Neogen Corp.

Neogen Corp. has reported a 21 percent increase in revenue.

Neogen Corp.’s animal safety division reported revenue of $12.7 million for its second quarter ended Nov. 30, up 21 percent from $10.5 million in the year-ago period. Year to date, the division reported revenue of $21.9 million, up 13 percent from $19.3 million.

Sales of over-the-counter veterinary products increased 18 percent for the quarter.

For the first half of fiscal 2008, diagnostic product sales have increased 11 percent, with sales of test kits to detect drugs of abuse in racing animals increasing 21 percent over the prior year.

There was also strong growth in rodenticides sales to international markets in the second quarter.

Overall, Neogen reported net income of $3.3 million on revenue of $27.2 million for its second quarter, compared with net income of $2.4 million on revenue of $22.2 million in the year-ago period.

Year to date, the company reported net income of $6.3 million on revenue of $50.1 million, compared to net income of $4.8 million on revenue of $42.4 million.

Posted January 21, 2008, 8:54 a.m., EST

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