Welcome to our dedicated page for Neogen news (Ticker: NEOG), a resource for investors and traders seeking the latest updates and insights on Neogen stock.
Neogen Corporation reports developments tied to its food safety and animal safety businesses, including diagnostic tests, environmental monitoring products, veterinary products and related manufacturing operations. Company updates commonly cover foodborne pathogen detection, Listeria testing, AOAC method certification, Petrifilm manufacturing activity, and product quality or recall matters involving animal health products.
Neogen news also includes quarterly operating results, segment performance in Food Safety and Animal Safety, business transformation updates, leadership and compliance appointments, and governance matters. Its recurring disclosures connect scientific validation, manufacturing execution, customer markets and regulatory interactions across food safety, livestock, and pet health and wellness applications.
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Neogen Corporation reported third-quarter results for fiscal 2023, highlighting revenues of $218.3 million, a 70.2% increase from the previous year. Net income stood at $8.2 million or $0.04 per diluted share. Adjusted net income was $26.5 million ($0.12 per diluted share), driven by the acquisition of the former 3M Food Safety Division. Despite challenges, including a production backlog, the company remains optimistic about long-term growth in the food security market. The Food Safety segment saw a significant 141.5% revenue increase, while Animal Safety grew by 1.9%. The gross margin improved to 49.5%.