Neogen Reports Record Third Quarter(ned in the third quarter due exclusively...)

Date:3/19/2009

ned in the third quarter due exclusively to inventory consolidation and reduction at Neogen's largest distributor. However, in the third quarter, Neogen cleared the final hurdle to sell its new BetaStar(R) US dairy antibiotic test by receiving an approval from the FDA and milk shippers organization. Approval of the BetaStar US test opens up the domestic test market for dairy antibiotic residues.

Neogen's increased focus on accelerating its research and development efforts is now yielding results, as numerous new and improved products are either now ready for the marketplace, or are in their final stages of development. These products include a new soy food allergen test that will detect soy protein in milk, a new simple dipstick test for the mycotoxin fumonisin, a new dairy antibiotic test for the international market that will simultaneously detect beta-lactam antibiotics and tetracyclines, an improved rapid test for pesticides, and improvements to the company's line of foodborne pathogen tests.

Neogen initiated its current common stock repurchase program on March 6, 2009. As of today, Neogen has spent approximately $1,000,000 in the repurchase program that its board of directors authorized in December 2008.

Neogen Corporation develops and markets products dedicated to food and animal safety. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.

        NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED OPERATING DATA
            (In thousands, except for per share and percentages)

                            Quarter ended 
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SOURCE  Neogen Corporation
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