LEXINGTON, Ky., Aug. 22, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG) announced today that it has formed a relationship with US Equestrian to help provide better equine care solutions for veterinarians and horse owners. Neogen and US Equestrian will together develop member-accessible educational materials on best practices, prevention techniques, and recommended treatment protocols for cases of equine botulism, a progressive neuromuscular disease that leads to weakness and muscle paralysis in equ ...

Investors in Neogen Corporation (NEOG) need to pay close attention to the stock based on moves in the options market lately. That is because the Oct 18, 2024 $17.50 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could a ...

Revenue Performance - Total revenue for fiscal year 2024 was $924.2 million, an increase of 12% compared to $822.4 million in fiscal year 2023[323]. - Revenue from the Food Safety segment increased by 20% to $655.3 million, driven by significant growth in Bacterial & General Sanitation (27% increase) and Indicator Testing, Culture Media & Other (25% increase)[323][324]. - Revenue from the Animal Safety segment decreased by $6.8 million to $268.9 million, with a notable 10% decline in Genomics Services attributed to a strategic shift towards large production animals[327][329]. - International revenues rose by 15% to $459.0 million, primarily due to $63.8 million from the 3M FSD acquisition in the first quarter of fiscal 2024[331]. - International revenues accounted for 49.7% of the company's consolidated net revenues in fiscal year 2024[356]. Financial Metrics - Adjusted EBITDA for fiscal year 2024 was $213.2 million, with an Adjusted EBITDA margin of 23.1%, down from 25.0% in the prior year[343]. - The company reported a net loss of $9.4 million for fiscal year 2024, improving from a net loss of $22.9 million in fiscal year 2023[343]. - The gross margin for the Food Safety segment improved to $136.8 million, a 38% increase from the previous year[333]. Expenses - Sales and marketing expenses increased by 29% to $182.9 million, largely due to costs associated with the FSD transaction and headcount increases in the Animal Safety segment[333]. - General and administrative expenses decreased slightly to $199.9 million, reflecting lower transaction fees and integration expenses compared to the previous year[334]. - Service revenue from genomics services decreased by 5% to $102.4 million, primarily due to customer attrition in the poultry market[330]. Cash and Investments - As of May 31, 2024, the company had cash and cash equivalents and marketable securities totaling $170.9 million, with an additional $150.0 million available under its revolving line of credit[345]. - In fiscal year 2024, cash outflow for investing activities was $111.4 million, primarily due to purchases of property, equipment, and noncurrent intangible assets, partially offset by $82.0 million from the sale of marketable securities[347]. - In fiscal year 2023, the company had purchases of property, equipment, and non-current intangible assets totaling $65.8 million, with marketable securities maturing at $266.8 million[347]. Legal and Compliance - The company is subject to certain legal proceedings that are not expected to materially affect its financial position[345]. - Management identified material weaknesses in internal controls related to the accounting and valuation of acquisitions and ineffective information technology general controls[387]. - Management's assessment concluded that the consolidated financial statements fairly present the financial condition and results of operations as of May 31, 2024[391]. Future Plans and Liquidity - The company plans to issue additional equity securities or enter into financing arrangements to meet future capital needs if necessary[345]. - The company continuously monitors its liquidity situation and evaluates financial alternatives to preserve liquidity[345]. - The company completed the exit of distribution and back office-related service contracts with 3M, maintaining only a contract manufacturing agreement[348].

Revenue of $236.8 million. Net loss of $5.4 million; $(0.02) per diluted share. Adjusted Net Income of $22.4 million; $0.10 per diluted share. Adjusted EBITDA of $53.0 million. "After crossing multiple significant integration milestones in the third quarter related to the integration of the former 3M Food Safety business, progress continued on multiple fronts in the fourth quarter," said John Adent, Neogen's President and Chief Executive Officer. "We completed the relocation of the sample handling product l ...

Conference Call and Webcast Neogen Corporation will host a conference call today at 8:00 a.m. Eastern Time to discuss the Company's financial results. The live webcast of the conference call and accompanying presentation materials can be accessed through Neogen's website at neogen.com/investor-relations. For those unable to access the webcast, the conference call can be accessed by dialing (800) 836-8184 (U.S.) or +1 (646) 357-8785 (International) and requesting the Neogen Corporation Fourth Quarter 2024 Ea ...

Neogen Corporation (NEOG) recently announced the launch of the Petrifilm Automated Feeder to help labs efficiently process microbial tests and meet food safety standards. The Petrifilm Automated Feeder works with existing Petrifilm Plate Reader Advanced equipment. About Petrifilm Automated Feeder Neogens' Petrifilm Automated Feeder can conduct more than 100,000 quality indicator tests per year. It delivers consistent colony counting and enhances lab productivity by automatically feeding and enumerating up t ...

LANSING, Mich., June 27, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, is helping high-volume food safety testing laboratories implement a more efficient way to process quality indicator tests. Today's launch of Neogen's Petrifilm® Automated Feeder will provide industry-leading indicator testing processing capabilities that build on 40 years of innovation across Petrifilm's portfolio. The system is specifically designed for high-volume food safety te ...

Neogen Corporation (NEOG) recently announced that its Molecular Detection System ("MDS") has been named by the U.S. Department of Agriculture Food Safety and Inspection Service ("USDA FSIS") as the primary method for the detection of Salmonella and Listeria monocytogenes testing for meat, poultry and egg products. USDA FSIS has been using the Neogen MDS for Salmonella and Listeria monocytogenes for more than five years, attesting to the reliability and efficiency of the system. The Neogen MDS makes the dete ...

LANSING, Mich., June 10, 2024 /PRNewswire/ -- Neogen® Corporation (NASDAQ: NEOG), an innovative leader in food safety solutions, announced today that the U.S. Department of Agriculture Food Safety and Inspection Service (USDA FSIS) has named the Neogen Molecular Detection System as its primary method to be used for the detection of Salmonella and Listeria monocytogenes testing for meat, poultry and egg products. USDA FSIS has been using the Neogen Molecular Detection System for Salmonella and Listeria monoc ...

Cellulosic ethanol represents a 60% reduction in greenhouse gas emissions from standard petroleum-based fuel and helps progress toward climate goals. The CelluSmart technology has the potential to help ethanol producers further reduce carbon intensity scores, which, in combination with other factors, may help them gain access to new markets, including sustainable aviation fuel. About Neogen In creating this industry-first technology, Neogen improved upon the previous National Renewable Energy Laboratory (NR ...