Neogen credits Macleod, new products

Neogen credits Macleod, new products

- Macleod's Uniprim and Neogen's animal supplements and rodenticides lead animal safety results. - Grain producers and processors "escalate" testing for natu

NEOGEN Corp. has reported an increase in earnings and sales for its fiscal 2013 second quarter and six months, crediting its acquisition of Macleod Pharmaceuticals — which was immediately accretive to income and sales — and "significant" initial sales of recently developed products.

The company also noted increased same-store sales of key products, including rodenticides and small animal supplements in its animal safety division and food allergen and natural toxin diagnostics in its food safety division.

Neogen's results are shown in the Table.

Neogen noted that the acquisition of Macleod in October (Feedstuffs, Oct. 8) gave it Uniprim, a leading veterinary antibiotic that provides antibacterial activity against a broad range of infections in animals.

The company said its rodenticide sales remained strong, especially in the animal production and farm segments, and small animal supplement sales strengthened substantially as the company responded to a temporary shortage of supplements used for thyroid hormone replacement therapy in dogs.

Neogen said sales of its natural toxin diagnostics increased 62% in the second quarter over the year before as grain producers and processors "escalated" product testing to address quality and safety concerns due to what were difficult growing conditions, especially in the U.S. and parts of Europe.

The company said its new rapid and simple Reveal Q+ tests for mycotoxins, including aflatoxin and deoxynivalenol, met with increasing acceptance, as did tests to detect histamine — a toxin found in harvested fish, especially tuna, if they are handled improperly.

The company said sales of rapid tests for food allergens continued to advance strongly due partly to initial acceptance of Reveal 3-D test kits that offer easy extraction and rapid time to results.

Neogen, headquartered in Lansing, Mich., develops and markets products for animal and food safety. The company reported fiscal 2012 sales of $184.0 million.

 

Neogen earnings and sales*

 

-Second quarter-

-Six months-

 

2013

2012

2013

2012

Sales (million $)

 

 

 

 

Animal safety

24.707

22.849

48.242

45.264

Food safety

26.030

22.042

52.225

45.324

Company-wide

50.737

44.891

100.467

90.588

Earnings (million $)

6.793

5.237

13.507

11.241

Earnings per share (cents)

28

22

56

47

*For the quarters ended Nov. 30, 2012, and Nov. 30, 2011.

Source: Neogen Corp.

 

Volume:84 Issue:54

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