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Neogen; Petmed

Financial updates for Neogen Corp. and PetMed.

Suggested Veterinary Products

Neogen Corp.

Neogen Reports Record Quarter

Neogen Corp.’s Animal Safety Division reported revenue of $15.8 million for the second quarter ended Nov. 30, up 24 percent from $12.7 million in the year-ago period. Year to date, the division reported revenue of $29.1 million, up 33 percent.

Sales of veterinary biologics increased more than 60 percent in the quarter as the company responded to suspected equine botulism outbreaks in at least four U.S. states.

Sales of Kane products, including veterinary obstetrical gloves, bovine hoofcare and surgical supplies, rose about 20 percent in the quarter compared to the prior year.

Neogen’s line of veterinary supplements primarily for dogs and cats saw a 26 percent increase in sales.

Overall, the Lansing, Mich.-based company reported net income of $3.9 million on revenue of $31.2 million in the second quarter, compared to net income of $3.3 million on revenue of $27.2 million in the year-ago period.

Neogen said this was the best quarterly performance in its 26-year history.

Year to date, Neogen reported net income of $7.6 million on revenue of $60.0 million, compared to $6.3 million and $50.1 million, respectively, in the year-ago period.


PetMed

PetMed Express’ New Order Sales Up 25%

PetMed Express Inc. of Pompano Beach, Fla., reported net income of $4.9 million on revenue of $43.4 million for the third quarter ended Dec. 31, compared to net income of $4.4 million on revenue of $37.4 million in the year-ago period.

New order sales rose by 25 percent, to $11.2 million, in the quarter, compared to $9 million a year earlier. The company acquired about 154,000 new customers in the quarter, compared to 127,000 in the same quarter the prior year.

Year to date, the company saw net income of $17.3 million on revenue of $171.3 million, compared to $15.1 million and $147.9 million, respectively, in the year-ago period.

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PetMed Express reported that it will continue focusing on capturing additional market share and improving reorders and customer service.

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