Neogen Q1 Profit Rises; Revenue Up 11% - Quick Facts

(RTTNews) - Neogen Corp. (NEOG) reported that its first-quarter net income to company increased 5% to $9.3 million, or $0.25 per share, from $8.9 million, or $0.24 a share, a year ago.

Steve Quinlan, Neogen's CFO, said: "Currency fluctuations continued to negatively impact both our top and bottom lines, and resulted in an adverse currency effect of about $0.02 per share to earnings for the first quarter."

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $74.86 million, an 11% increase compared to $67.60 million, previous year. Analysts expected revenue of $76.35 million for the quarter.