Neogen Reports 18% Increase in Net Income, 12% Increase i...(Research & development 1464 ...)

Date:9/24/2009

Research & development 1,464 952 ----- --- Total other expenses 10,326 9,151 ------ ----- Operating income 6,944 5,653 Other revenue 51 205 Income before tax 6,995 5,858 Income tax 2,600 2,125 ----- ----- Net income $4,395 $3,733 Net income per diluted share $0.29 $0.25 Other information: Shares to calculate per share 15,257 15,031 Depreciation & amortization $1,012 $948 Interest income 17 65 Gross margin (% of sales) 53.4% 51.4% Operating income (% of sales) 21.5% 19.6% Revenue increase vs. FY 2009 12.3% Net income increase vs. FY 2009 17.7%

    NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED
    BALANCE SHEET DATA
    (In thousands)


                                                 Aug. 31      May 31
                                                    2009        2009
    Assets
     Current assets
             Cash & investments                  $23,564     $13,842
             Accounts receivable                  24,094      23,363
             Inventory                            30,471      31,363
             Other current assets                  3,074       3,198
                                                   -----       -----
     Total current assets                         81,203      71,766
     Property & equipment                         17,265      17,058
     Goodwill & other assets                      53,
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SOURCE  Neogen Corporation
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