NEW YORK, July 27, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Neogen Corporation (NASDAQ : NEOG ). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=NEOG
Highlights from our FCX Report include:
- Q4 FY 2015 Revenues & EPS Exceeds Consensus Estimates - On July 21, Neogen Corporation released results for the fourth quarter and full year fiscal 2015. The Company generated total revenue of $78.6 million, reflecting an increase of 17% from $67.3 million in Q4 FY 2014. For fiscal 2015, revenue increased 14.4% YoY to $283.1 million. As per Zacks, the Company's Q4 FY 2015 revenues outpaced its consensus mark of $74 million. Net income attributable to Neogen in Q4 FY2015 amounted to $9.4 million or $0.25 per diluted shares, higher than $7.5 million or $0.20 per diluted shares in previous year quarter. Meanwhile, net income attributable to the Company in FY 2015 was $33.5 million or $0.90 per diluted shares, higher than $28.2 million or $0.76 per diluted shares in FY 2014. As per a report by RTT News, analysts polled by Thomson Reuters expected the company to earn $0.24 per share in Q4 FY 2015. As per the Company, revenues and net income for Q4 FY 2015 and FY 2015 established new all-time highs.
- Improved Operating Performance - The Company's gross profit during Q4 FY 2015 stood at $37.7 million, compared to $32.0 million in prior year quarter. Consequently, gross margin for the quarter was 48.0%, as compared to 47.6% in Q4 FY 2014. Meanwhile, FY 2015 gross profit came in at $139.7 million or 49.3% of revenue, compared to $122.6 million or 49.6% of revenue in the prior year. Additionally, operating income grew from $11.0 million in Q4 FY 2014 to $14.6 million in the reported period.
- Segment Performance Review - The Company's food safety segment generated revenue of $35.6 million in Q4 FY 2015, compared to $29.9 million in prior year period. For fiscal 2015, food safety segment's revenue grew by 13.1% YoY to $131.5 million. In addition, overall organic growth for the food safety segment was 10% for the year. The Company informed that sales of its general microbiology products improved by 40% in 2015, supported by the October 1, 2014 acquisition of BioLumix®. Meanwhile, the animal safety segment of the Company contributed $43.0 million to the total revenue of Q4 FY 2015. In addition, for fiscal 2015, the segment recorded an increase of 16% in the revenues, amounting to $151.6 million from $131.1 million in fiscal 2014. Improved yearly revenue growth of the segment was aided by three acquisitions made by the Company in 2014 fiscal year.
To find out how this influences our rating on Neogen Corporation read the full report in its entirety here: http://www.aciassociation.com/?c=NEOG
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