Neogen Q4 2021 Earnings Report

Neogen reported record revenues for fiscal year 2021, driven by strong growth in both Food Safety and Animal Safety segments.

Key Takeaways

Neogen Corporation announced its Q4 and full fiscal year 2021 results, with Q4 revenues increasing by 17% to $127.4 million. Net income for the quarter was $15.8 million, or $0.15 per share. The company faced challenges from higher supply chain costs and increased operating expenses but saw growth in both domestic and international markets.

Fourth-quarter revenues increased 17% to $127.4 million, compared to $109.1 million in the prior year.

Fourth-quarter net income was $15.8 million, or $0.15 per share, compared to $16.3 million, or $0.15 per share, in the prior year.

Gross margins for the fourth quarter of 2021 were 45.3% of sales, compared to 47.4% in the prior year's fourth quarter, due to higher supply chain and personnel costs.

Revenues for the Food Safety segment were $64.1 million, an increase of 18%, and Animal Safety segment revenues were $63.3 million, an increase of 16%.

Previous year: $51.7M

+11.5%