Neogen Q2 2022 Earnings Report
Key Takeaways
Neogen Corporation announced a 13% increase in revenues to $130.517 million for the second quarter of fiscal year 2022. Both the Food Safety and Animal Safety segments experienced double-digit organic sales growth. Net income was $10.828 million, or $0.10 per share, compared to $15.885 million, or $0.15 per share, in the prior year's second quarter, impacted by $9.3 million in professional fees related to the planned combination with 3M's Food Safety business.
Revenues increased by 13% compared to the previous year's second quarter.
Food Safety and Animal Safety segments both recorded double-digit increases in organic sales for the fourth consecutive quarter.
Net income was impacted by $9.3 million in professional fees related to the planned combination with 3M's Food Safety business.
International revenues rose by 20% with 14% organic growth.
Neogen
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Neogen Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income