Neogen reports 30% increase in net income in FY 2011

Neogen’s net income for its 2011 fiscal year, which ended May 31, increased 30% from the previous year to $22,839,000. Net income in the fiscal year increased to $0.96 per share, compared to the prior year’s $0.76 per share.

The fourth quarter was the 73rd consecutive profitable quarter from operations for the company, and the 77th quarter of the past 82 quarters to show increased revenues as compared with the previous year—including the last 25 quarters.

For the first time, Neogen’s percentage of sales from international markets exceeded 42% of total revenues. Neogen’s FY 2011 operating income increased 33% compared to the prior year to $35,835,000, or to 20.8% of revenues, compared with $26,879,000, or 19.1% of revenues in FY 2010.

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