Neogen Corp. (NASDAQ:NEOG) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Neogen Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.29% to $0.32 in the quarter versus EPS of $0.28 in the year-earlier quarter.
Revenue: Rose 17.64% to $58.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Neogen Corp. reported adjusted EPS income of $0.32 per share. By that measure, the company missed the mean analyst estimate of $0.32. It beat the average revenue estimate of $56.15 million.
Quoting Management: “The first quarter was a great start for our new fiscal year, as Neogen continues to seize opportunities throughout our worldwide markets,” said James Herbert, Neogen’s chief executive officer and chairman. “The strong growth we are reporting today is the result of the efficient assimilation of our recent acquisitions, and significant growth in core product lines — especially in markets outside of the United States.”
Key Stats (on next page)…