Neogen Profits Fall On Integration Of Acquisitions; Revenue RisesThe Lansing animal and food safety testing product maker Neogen Corp. (Nasdaq: NEOG) Tuesday announced net income of $6.6 million for for the third quarter of its fiscal year, which ended Feb. 28, down from $6.7 million in the same period a year earlier. Earnings per share was unchanged at 18 cents for both periods. Revenue for the quarter was $62 million, up 21 percent from $51.1 million a year earlier.
Neogen Profit Falls On Fewer Food Contamination Crises, Higher Acquisition CostsNeogen Corp. makes products that test for contamination and other biotech information in food and livestock. A year ago, amid outbreaks of food contamination, the company reported record profits. This year, for the second quarter of its fiscal year, which ended Nov. 30, the company reported lower net income despite higher sales due to what a top executive called a year of "clean crops." Acquisition expenses also played a part.