Neogen Reports Q2FY11 EPS of $0.26

Neogen Corporation

announced today that its net income for the second quarter of FY 2011, which ended Nov. 30, increased 33% from the previous year's second quarter. Net income in the quarter rose to $6,110,000, or $0.26 per share, compared to the prior year's $0.20. Second quarter revenues increased 25% to $43,931,000, compared to the prior year's $35,251,000. Year-to-date revenues for the first six months of fiscal year 2011 rose 28% to $86,853,000 from FY 2010's $67,598,000. Current year-to-date net income for the same six-month period increased 33% to $11,935,000 from $9,006,000 in FY 2010, or to $0.51 per share compared to the prior year's $0.39. The second quarter revenues and net income represent quarterly records for the 28-year-old company.