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Neogen Reports 34% Increase in Net Income, 20% Increase in Revenues
Date:3/25/2008

seases and sanitation concerns. Neogen's Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.

Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward- looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors listed in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's most recently filed Form 10-K.

NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED OPERATING DATA

(In thousands, except for per share and percentages)

Quarter ended Feb. 29/28 Nine months ended Feb. 29/28

2008 2007 2008 2007

Revenue

Food Safety $ 13,835 $ 11,565 $ 42,068 $ 34,749

Animal Safety 11,345 9,489 33,231 28,714

Total revenue 25,180 21,054 75,299 63,463

Cost of sales 12,517 10,104 36,168 30,484

Gross margin 12,663 10,950 39,131 32,979

Other expenses

Sales & marketing 4,947 4,612 15,081 13,517

Administrative 2,717 2,378 7,909 6,516

Research &

development 1,018 937 2,815 2,650

Total other expenses 8,682 7,927 25,805 22,683

Operating income 3,981 3,023 13,326 10,296

Other revenue 2 67 472 127

Income before tax 3,983 3,090 13,798 10,423


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SOURCE Neogen Corporation
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