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Neogen reports 27% increase in quarterly net income
Date:3/26/2013

international shipments to a distributor as well as increases in sales of the product line in Brazil. The increase was also due to continued market acceptance of Neogen's BetaStar® Combo product, which simply and accurately detects both beta-lactam and tetracycline antibiotics. Sales of tests to detect histamine also increased significantly in the third quarter when compared to the same quarter in FY 2012. Histamine is a toxin produced post harvest in certain types of fish, especially tuna, if they are improperly handled.

Revenues from the company's genomics testing service business increased approximately 20% in the third quarter, compared to the prior year quarter. This increase was due to the increased sample volumes from the existing customer bases, including the beef cattle business. The improvement was also due to increased sales efforts for these services in both Brazil and Europe. 

Sales of Neogen's rodenticides continued their strong rebound in FY 2013, increasing significantly from the prior year's comparable third quarter, as sales returned to their historical norms after regulatory changes caused a decline in Neogen's rodenticide sales in its 2012 fiscal year.

Sales of Uniprim®, a leading veterinary antibiotic, continued to be strong since its acquisition from Macleod Pharmaceuticals in October 2012. Uniprim is a prescription-only combination of trimethoprim and sulfadiazine that provides effective antibacterial activity against a wide range of infections in animals. The current quarter also included a significant increase, when compared to the third quarter of FY 2012, in sales of its veterinary detectable D3 Needles™. Neogen's D3 Needles are exceptionally strong to lessen the chance they may break off when treating an animal, and also easily detectable in standard meat processing metal detectors in the unlikely event they ever break.

Neogen Corporation develops and markets products dedicated to food an
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