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1ST HALF: NEOGEN REVENUES UP 12%, NET INCOME UP 14%
Source: Neogen news release

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Neogen Corporation (NASDAQ: NEOG) announced today that net income for the second quarter of its 2017 fiscal year, which ended Nov. 30, increased 23% to $11,151,000, or $0.29 per fully diluted share, from $9,073,000, or $0.24 per share, in fiscal 2016. Current year-to-date net income was $21,032,000, or $0.55 per share, compared to $18,396,000, or $0.49 per share, for the same period a year ago.

Revenues for the second quarter of fiscal 2017 increased 14% to $90,717,000, from the previous year's second quarter revenues of $79,610,000. This increase was aided in part by recent acquisitions. The quarterly revenue and net income results represent records for the 34-year-old company. Year to date, fiscal 2017 revenues increased 13% to $174,362,000 from fiscal 2016's $154,471,000.

"Our second quarter shows Neogen's growth strategies continue to provide solid results, as we expanded our core business and efficiently integrated acquisitions," said James Herbert, Neogen's chief executive officer and chairman. "We view these strong results as another snapshot of Neogen's growth capabilities. We take pride in our outstanding sustained profitability, which allows us to capitalize on growth opportunities."

The second quarter was the 99th of the past 104 quarters that Neogen reported revenue increases as compared with the previous year - including all consecutive quarters in the last 11 years.


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