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Neogen reports 18% revenue increase
Date:9/24/2013

es of Neogen's natural toxin diagnostics increased 12% in the current quarter, as grain producers and processors continued to address safety and quality concerns. These concerns resulted in increased testing of last year's contaminated crops, much of which were still being stored in the first quarter. The sales increase was also due to increasing demand for Neogen's expanding line of simple and quick Reveal® Q+ quantitative tests for mycotoxins, including aflatoxin and deoxynivalenol (DON).

Neogen's Animal Safety segment recorded revenue increases of 21% in the first quarter, aided by sales from the recently acquired SyrVet veterinary instruments and supplies business, and the October 2012 acquisition of the popular Uniprim® veterinary antibiotic. Sales of Neogen's line of animal care products, which consists primarily of veterinary supplements, wound care products and antibiotics, increased 33% on a quarter-to-quarter comparison. For the quarter, sales of the company's line of durable and disposable veterinary instruments increased 35% compared to FY 2013. Organic growth for the Animal Safety segment was 10%.

Neogen's GeneSeek® subsidiary reported a 28% increase in revenues compared to the prior year's quarter. The subsidiary's performance was aided by strong market acceptance of a new genomic test for the beef and dairy cattle markets. The recently released test for beef heifer replacements enables ranchers to quickly decide if animals have the genetic merit to go into the breeding herd. A similar program was recently introduced to help dairymen select heifers that will become high milk production cows.

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, food allergens, drug residues, plant diseases and sanitation concerns. N
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