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Neogen Q1 Net Profit Plunges, But Revenue Up 3%

Neogen Corp. (NEOG) reported on Tuesday that net income for the first quarter plunged to $5.21 million or $0.05 per share from to $17.08 million or $0.16 per share in the prior-year quarter.

Excluding items, adjusted earnings were $0.15 per share, compared to $0.16 per share in the year-ago quarter.

Revenues for the quarter increased 3 percent to $132.35 million from $128.31 million in the same quarter last year. Excluding unfavorable currency, revenues increased 6 percent. On an organic basis, sales increased 4 percent.

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