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Neogen reports 27% increase in quarterly net income
Date:3/26/2013

n

$1,812

$1,578$5,103

$4,489Interest income

33

30114

78Gross margin (% of sales)

53.5%

51.0%53.5%

50.6%Operating income (% of sales)

18.9%

16.8%20.1%

18.5%Revenue increase vs. FY 2012

13.7%11.8%Net income increase (decrease)vs. FY 2012

26.6%22.0% NEOGEN CORPORATION SUMMARIZED CONSOLIDATED BALANCE SHEET DATA(In thousands)Feb. 28May 3120132012(Unaudited)

(Audited)AssetsCurrent assetsCash & investments

$74,566

$68,645Accounts receivable

38,694

35,652Inventory

41,082

34,992Other current assets

5,729

4,652Total current assets

160,071

143,941Property & equipment

33,414

29,933Goodwill & other assets

87,540

77,726Total assets

$281,025

$251,600Liabilities & EquityCurrent liabilities

$22,569

$19,979Long-term debt

-

-Other non-current liabilities

12,758

12,567Equity: Shares outstanding23,922 in Feb. & 23,620 in May

245,698

219,054Total liabilities & equity

$281,025

$251,600Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors listed in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's most recently filed Form 10-K.

CONTACT:
Steven J. Quinlan
Vice President and CFO
517/372-9200


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SOURCE Neogen Corporation
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