Neogen Reports 34% Increase in Net Income, 20% Increase i... (Income tax 1325 1100 ...)

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Neogen Reports 34% Increase in Net Income, 20% Increase in Revenues

Date:3/25/2008

Income tax 1,325 1,100 4,875 3,601

Net income $ 2,658 $ 1,990 $ 8,923 $ 6,822

Net income per

diluted share (1) $ 0.18 $ 0.14 $ 0.60 $ 0.48

Other information:

Shares to calculate

per share (1) 14,918 14,219 14,792 14,096

Depreciation &

amortization $ 914 $ 488 $ 2,584 $ 2,026

Interest expense 0 4 0 15

Gross margin

(% of sales) 50.3% 52.0% 52.0% 52.0%

Operating income

(% of sales) 15.8% 14.4% 17.7% 16.2%

Revenue increase

vs. FY 2007 19.6% 18.7%

Net income increase

vs. FY 2007 33.6% 30.8% NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED BALANCE SHEET DATA

(In thousands)

Feb. 29 May 31

2008 2007

Assets

Current assets

Cash & investments $ 11,093 $ 13,424

Accounts receivable 18,107 14,914

Inventory 25,765 19,115

Other current assets 3,779 3,645

Total current assets 58,744 51,098

Property & equipment 16,547 16,402

Goodwill & other assets 44,527 37,784

Total assets $ 119,818 $ 105,284

Liabilities & Stockholders' Equity

Current liabilities $ 11,387 $ 10,038

Long-term l
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SOURCE Neogen Corporation
Copyright©2008 PR Newswire.
All rights reserved

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Neogen Reports 34% Increase in Net Income, 20% Increase i...(Income tax 1325 1100 ...)