$NEOG (Neogen Corp.)

$NEOG {{ '2016-03-23T13:12:44+0000' | timeago}} • Announcement

$NEOG's operating margin for 3Q16 decreased to 14.7% from 17.8% in the previous year quarter. The reduction was the result of the reduction in gross margin. Pre-tax income was favorably impacted by net gains from currency hedging activities, recorded through other income, and increased interest income.

$NEOG {{ '2017-09-19T13:40:41+0000' | timeago}} • Announcement

During 1Q18, $NEOG's Animal Safety segment revenue increased 9% YoY, driven by significant growth in its genomics business. Revenues from Worldwide animal genomics business increased 29% from a year earlier. The rise was basically due to increased market share in the global cattle and poultry markets.

$NEOG {{ '2017-09-19T13:39:04+0000' | timeago}} • Announcement

Food safety company $NEOG reported a 20.57% increase in its 1Q18 earnings, driven by a revenue jump of 13.88% in the quarter. Net income rose to $11.91MM, or $0.31 per share from $9.88MM, or $0.26 per share a year earlier. Revenue rose to $95.25MM from $83.64MM a year ago.

$NEOG {{ '2017-07-17T13:08:38+0000' | timeago}} • Announcement

$NEOG appointed John Adent as CEO, effective immediately. James Herbert, the company’s founder and former CEO, will remain as executive chairman and work closely with Adent in the transition of responsibilities.

$NEOG {{ '2017-07-10T15:50:19+0000' | timeago}} • Announcement

$NEOG developed an innovative test that detects Listeria in environmental samples in under 60 minutes, without the need to enrich samples. The test is also under review for AOAC Performance Tested certification to further validate its accuracy.

$NEOG {{ '2017-06-19T16:35:46+0000' | timeago}} • Announcement

$NEOG announced the availability of next generation sequencing services for the food industry, which will enable food companies to accurately identify all bacteria in a sample in a single genomic test. The new NeoSeek tests will be performed at $NEOG's GeneSeek facilities in Lincoln, Neb.

$NEOG {{ '2017-06-05T14:59:07+0000' | timeago}} • Announcement

$NEOG expanded its comprehensive line of food allergen test kits to include a test for sesame that can be used to screen samples at a set level, or provide precise quantitative results. $NEOG's new Veratox for Sesame Allergen test provides results in just 30 minutes after extraction.

$NEOG {{ '2017-05-23T14:57:06+0000' | timeago}} • Announcement

$NEOG developed innovative Recall Support Services program to better serve needs of food industry customers facing product recall, or preparing for possibility of recall. This emphasizes $NEOG's experience and expertise, as well as testing products and services to help guide a company through a recall, and also to identify source of contamination.

$NEOG {{ '2017-03-21T16:39:04+0000' | timeago}} • Webcast

$NEOG's distribution system on the Animal Safety side is slightly different than the Food Safety side as the former deals with larger products and needs trucks and warehouses. The distribution system in the US is well-established but it is still expanding in other places. On the Food Safety side, the company is able to adopt a more direct system.

$NEOG {{ '2017-03-21T16:05:43+0000' | timeago}} • Webcast

$NEOG's Illumina partnership is going well and shows opportunity for expansion around the world. In February, for genetic testing, the company did 218,000 samples in one month pushing it to well over 2MM samples in 2017 which would make $NEOG the world’s largest animal genomics testing laboratory. The Scotland business is also showing progress.

$NEOG {{ '2017-03-21T15:30:17+0000' | timeago}} • Webcast

In 3Q17, $NEOG’s sales of rapid tests to detect drug residues in forensic samples increased 39% compared to 3Q16 due mainly to the lab business in the US and Brazil. The company also had a significant increase in sales of durable syringes for the veterinary market.

$NEOG {{ '2017-03-21T15:21:01+0000' | timeago}} • Webcast

During 3Q17, $NEOG’s Food Safety segment revenues increased 24% compared to the prior year, aided in part by recent acquisitions. Organic growth for this segment was 12%. Sales performance was led by a 29% increase in sales of $NEOG’s rapid tests to detect natural toxins. Sales of rapid tests for food allergens such as milk and gluten grew 14%.

$NEOG {{ '2017-03-21T13:16:55+0000' | timeago}} • Announcement

During 3Q17, $NEOG's revenues for Animal Safety segment rose 8% YoY. Revenues from Worldwide animal genomics business rose 20% YoY. The rise was basically due to increased testing capability gained through expansion of testing facilities in Scotland.

$NEOG {{ '2017-03-21T13:12:06+0000' | timeago}} • Announcement

Medical testing kits maker $NEOG reported 24% increase in its 3Q17 earnings, helped by higher revenues compared to 3Q16. Net income rose to $10.28MM, or $0.27 per share, compared to $8.31MM, or $0.22 per share during 3Q16. Revenues rose 15% YoY to 88.38MM from $76.72MM during prior year quarter.

$NEOG {{ '2017-01-24T15:10:10+0000' | timeago}} • Announcement

$NEOG terminated its agreement with $SNES related to the manufacturing and marketing of a rodenticide being developed by $SNES. The two firms had worked together since 2014, prior to the time when the $SNES product was approved by the U.S. Environmental Protection Agency.

$NEOG {{ '2017-01-12T18:57:00+0000' | timeago}} • Announcement

$NEOG said Dr. Rich Tait, Jr., has joined the product development team at Neogen GeneSeek Operations, where he will work on new and enhanced genomic testing services. Dr. Tait was previously a statistician and research geneticist in genetics, breeding, and animal-health research at the U.S. Meat Animal Research Center in Nebraska.

$NEOG {{ '2016-12-27T16:49:28+0000' | timeago}} • Announcement

$NEOG has acquired Brazil-based Rogama Industria e Comercio Ltda., a private company that develops and manufactures rodenticides and insecticides. Terms of the agreement were not disclosed. Rogama’s annual revenues are approx. $8MM and going forward, its operations will be managed by $NEOG’s Brazil-based Neogen do Brasil subsidiary.

$NEOG {{ '2016-12-21T17:07:56+0000' | timeago}} • Webcast

Speaking on the market size for Mycotoxin and Allergen businesses, $NEOG said that mycotoxin market is somewhere in mid $30MM and allergen market is north of $20MM.

$NEOG {{ '2016-12-21T16:53:52+0000' | timeago}} • Webcast

In 2Q17, $NEOG saw sales from the forensic drug residue tests growing 59% YoverY. Most of that growth came from Brazilian subsidiary and partly from the Life Sciences Group in Lexington, said the company.

$NEOG {{ '2016-12-21T16:43:11+0000' | timeago}} • Webcast

$NEOG generated about $9.3MM in cash from operations during 2Q17 and invested $2.8MM of that in property and equipment. For year-to-date, the company generated $29.5MM from operations and spend $6.2MM in property and equipment.

$NEOG {{ '2016-12-21T16:31:40+0000' | timeago}} • Webcast

$NEOG said the temporary removal of thyroid replacement product for dogs from marketplace has negatively impacted the results in 2Q17. The impact of this multi-million dollar product loss will continue to be felt in 3Q17 and 4Q17, said the company.

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