Neogen Corp., which develops and markets products dedicated to food and animal safety, said Tuesday its net income for the fourth quarter of its 2015 fiscal year, which ended May 31, increased 25 percent.
Neogen said net income for the quarter was $9,384,000, or $0.25 per fully diluted share, up from $7,537,000, or $0.20 per share, in the similar quarter in fiscal 2014.
"We are pleased to report a strong finish to our 2015 fiscal year and increased momentum as we begin our new fiscal year. In our fourth quarter, we exceeded our goal of producing double-digit organic growth for both our food and animal safety segments," Neogen Chairman and CEO
James Herbert said.
Neogen's fourth quarter revenues were $78,611,000, a 17 percent increase over revenues from 2014's final quarter.
Neogen's revenues for its 2015 fiscal year increased 14 percent, to $283,074,000, up from $247,405,000 in the previous fiscal year.
Net income for the 2015 fiscal year increased 19 percent from the previous year.
"Neogen is uniquely positioned to grow and prosper by helping the world's food producers and processors meet ever-increasing challenges - whether inside the farm gate, or anywhere along the processing and distribution chain," Herbert said.
Neogen said revenues and net income for the fourth quarter, and for the 2015 fiscal year, established new all-time highs for the 33-year-old company.
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Neogen Corporation 620 Lesher Pl Lansing, MI 48912
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