Skip to main content

Free Post Earnings Research Report: Neogen Reported Record Breaking Revenue and Earnings

LONDON, UK / ACCESSWIRE / January 16, 2018 / Active-Investors.com has just released a free earnings report on Neogen Corp. (NASDAQ: NEOG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NEOG. Neogen reported its second quarter fiscal 2018 operating results on January 03, 2018. The reported quarter was the 103rd of the past 108 quarters, where the maker of medical testing kits reported revenue growth on a y-o-y basis, a record spanning 27 year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Neogen most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=NEOG

Earnings Highlights and Summary

Neogen reported revenues for the second quarter of its 2018 fiscal year, which ended November 30, 2017 increased 12% to $101.82 million compared to Q2 FY17 revenues of $90.72 million. The reported quarter marked the first time Neogen has exceeded $100 million in quarterly revenues. The Company's reported numbers lagged behind analysts' estimates of $101.9 million.

Neogen's gross margin was 48.4% of sales in Q2 FY18 compared to 48.1% recorded in Q2 FY17. Expressed as a percentage of sales, the Company's operating income for the reported quarter came in at 17.7% compared to 18.6% in the year earlier same quarter.

For Q2 FY18, Neogen's net income was $17.10 million, reflecting an increase of 53% compared to Q2 FY17 net income of $11.15 million. Adjusted for a 4-for-3 stock split effective December 29, 2017, the Company's earnings per share in the reported quarter were $0.33 compared to $0.22 in the year ago same period. During Q2 FY18, Neogen benefitted $3.4 million, or $0.07 per share, due to the adoption of Accounting Standard Update 2016-09 on June 01, 2017. The Company's earnings surpassed Wall Street's estimates of $0.26 per share.

Neogen's Segment Results

During Q2 FY18, Neogen's revenues for its Food Safety segment increased 21% to $49.56 million on a y-o-y basis compared to $40.96 million in Q2 FY17, aided by acquisitions within the past one year, through Neogen's operations in Scotland and Brazil. Sales of Neogen's line of general sanitation products increased 23% in the reported quarter compared to the prior year's same quarter. The segment's comparative results also included a 20% increase in sales of culture media products. During Q2 FY18, the Food Safety segment's results included an 18% increase in sales of test kits to detect drug residues in milk, and a 14% increase in foodborne pathogen detection tests including a 43% increase in sales of tests to detect Listeria.

For Q2 FY18, Neogen's revenues from international sources increased to 38% of overall revenues compared to 34% in Q2 FY17. Overall, international sales increased 24% on a y-o-y basis. Revenues from Neogen do Brasil increased 22% in US dollars in the reported quarter, while Mexico-based Neogen Latinoamerica's sales surged 36% compared to the year ago corresponding period. During Q2 FY18, Neogen Europe's revenues rose 15% on a y-o-y basis, while Neogen China's revenues increased 23%, and Neogen India's revenues advanced 48%, although from a small base.

During Q2 FY18, the Animal Safety segment reported a 5% revenue growth to $52.26 million compared to $49.76 million in Q2 FY17, led by growth in its genomics business, a 10% increase in sales of its animal care line of products, a 14% growth in its rodent control product line, and a 19% jump in sales of veterinary instruments, which included a 17% increase in sales of its detectable needles. Revenues from Neogen's worldwide animal genomics business increased 19% in the reported quarter compared to the prior year's same quarter.

Cash Matters

Neogen generated approximately $9 million in cash from operations during Q2 FY18 and invested approximately $6 million in property and equipment. For the year-to-date, the Company had generated $27.4 million from operations and spent about $10 million on capital expenditures.

Stock Performance Snapshot

January 12, 2018 - At Friday's closing bell, Neogen's stock was marginally down 0.14%, ending the trading session at $59.12.

Volume traded for the day: 155.99 thousand shares, which was above the 3-month average volume of 151.21 thousand shares.

Stock performance in the last three-month – up 0.83%; previous six-month period – up 15.50%; and past twelve-month period – up 20.40%

After last Friday's close, Neogen's market cap was at $2.26 billion.

Price to Earnings (P/E) ratio was at 64.12.

The stock is part of the Healthcare sector, categorized under the Diagnostic Substances industry. This sector was up 0.7% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.