Neogen Reports Record Third Quarter(a longer decision making process in obta...)

"I think the fact that Neogen was able to report quarterly revenue and profit growth during this economic downturn is a significant achievement," Bohannon continued. "We continue to believe that our extensive product line of food and animal safety solutions provides us excellent short-term and long-term growth opportunities."

"Neogen Europe's outstanding third-quarter sales performance was almost totally nullified by the weakening British currency," said Richard Current, Neogen's chief financial officer. "If you take out the effect of this conversion, and a similar but not as dramatic effect from the Euro, we would have reported a 10% increase in our Food Safety Division's third quarter sales, when compared to the prior year."

Neogen's Lexington, Ky.-based Animal Safety Division led the company's third quarter revenue increase, with sales up 20% from $11,345,000 in FY 2008 to $13,667,000 in the current year. For the first nine months of FY 2009, the division's sales increased 29% over the prior year to $42,730,000. The July 2008 addition of disinfectant and cleaning products from the DuPont acquisition accounted for the division's third quarter revenue gain.

Year-to-date sales of Neogen's veterinary instruments continue to be strong, increasing by 12% over the prior year. This increase is being driven by the continuing market share gain in the retail market, along with significant sales gains in disposable needles and syringes, including Neogen's unique detectable veterinary needles. The Animal Safety division also experienced exceptional third quarter sales growth of its Kare line of small animal supplements as well as solid organic growth of 7% for rodenticides and non-DuPont disinfectants. Sales of Neogen's proprie
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