NEOGEN CORP Files Q1 2025 10-Q Report
Ticker: NEOG · Form: 10-Q · Filed: Oct 10, 2024 · CIK: 711377
| Field | Detail |
|---|---|
| Company | Neogen Corp (NEOG) |
| Form Type | 10-Q |
| Filed Date | Oct 10, 2024 |
| Risk Level | low |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.16 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, diagnostics
TL;DR
NEOGEN CORP 10-Q filed. Q1 FY25 results out. Check financials.
AI Summary
NEOGEN CORP filed its 10-Q for the period ending August 31, 2024. The company, headquartered in Lansing, MI, operates in the in vitro & in vivo diagnostic substances sector. Key financial data and segment performance for the first quarter of fiscal year 2025 are detailed within this report.
Why It Matters
This filing provides investors with an update on NEOGEN CORP's financial performance and operational status for the first quarter of its fiscal year, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates and does not indicate any immediate or significant new risks.
Key Numbers
- 20240831 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20241010 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- NEOGEN CORP (company) — Filer of the 10-Q report
- LANSING, MI (location) — Company headquarters
- 20240831 (date) — End of the reporting period
- 20241010 (date) — Date of filing
FAQ
What is the primary business of NEOGEN CORP?
NEOGEN CORP operates in the 'IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES' sector, as indicated by its Standard Industrial Classification code [2835].
For which fiscal period is this 10-Q report filed?
This 10-Q report is filed for the period ending August 31, 2024.
Where is NEOGEN CORP headquartered?
NEOGEN CORP is headquartered at 620 LESHER PLACE, LANSING, MI 48912.
What is the SEC file number for NEOGEN CORP?
The SEC file number for NEOGEN CORP is 000-17988.
When was the previous fiscal year end for NEOGEN CORP?
NEOGEN CORP's fiscal year ends on 0531.
Filing Stats: 4,265 words · 17 min read · ~14 pages · Grade level 18 · Accepted 2024-10-10 14:14:11
Key Financial Figures
- $0.16 — e on which registered Common Stock, $0.16 par value per share NEOG NASDAQ Glo
Filing Documents
- neog-20240831.htm (10-Q) — 1264KB
- neog-ex31_1.htm (EX-31.1) — 14KB
- neog-ex31_2.htm (EX-31.2) — 14KB
- neog-ex32.htm (EX-32) — 11KB
- img193737124_0.jpg (GRAPHIC) — 632KB
- 0000950170-24-114022.txt ( ) — 7751KB
- neog-20240831.xsd (EX-101.SCH) — 1323KB
- neog-20240831_htm.xml (XML) — 870KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1. Interim Condensed Consolidated Financial Statements (unaudited) 2 Condensed Consolidated Balance Sheets – August 31, 2024 and May 31, 2024 2 Condensed Consolidated Statements of Operations – three months ended August 31, 2024 and August 31, 2023 3 Condensed Consolidated Statements of Comprehensive (Loss) Income – three months ended August 31, 2024 and August 31, 2023 4 Condensed Consolidated Statements of Equity – three months ended August 31, 2024 and August 31, 2023 5 Condensed Consolidated Statements of Cash Flows – Three months ended August 31, 2024 and August 31, 2023 6 Notes to Interim Condensed Consolidated Financial Statements – August 31, 2024 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5. Other Information 26 Item 6. Exhibits 27
SIGNATURES
SIGNATURES 28 CEO Certification CFO Certification Section 906 Certification 1
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Interim Condensed Consolidated Financial Statements
Item 1. Interim Condensed Consolidated Financial Statements Neogen Corporation Condensed Consolidated Balance Sheets (in thousands, except shares) August 31, 2024 May 31, 2024 Assets (unaudited) Current Assets Cash and cash equivalents $ 120,477 $ 170,611 Marketable securities — 325 Accounts receivable, net of allowance of $ 4,137 and $ 4,140 167,639 173,005 Inventories Raw materials 77,217 78,799 Work-in-process 12,593 10,990 Finished goods 125,995 111,839 215,805 201,628 Less inventory reserve ( 17,209 ) ( 12,361 ) Inventories, net 198,596 189,267 Prepaid expenses and other current assets 53,938 56,025 Total Current Assets 540,650 589,233 Net Property and Equipment 300,971 277,104 Other Assets Right of use assets 14,311 14,785 Goodwill 2,137,494 2,135,632 Intangible assets, net 1,489,751 1,511,653 Other non-current assets 19,996 20,426 Total Assets $ 4,503,173 $ 4,548,833 Liabilities and Stockholders' Equity Current Liabilities Current portion of finance lease $ 2,651 $ 2,447 Accounts payable 61,464 83,061 Accrued compensation 15,803 19,949 Income tax payable 11,102 10,449 Accrued interest 3,554 10,985 Deferred revenue 5,635 4,632 Other current liabilities 22,480 22,800 Total Current Liabilities 122,689 154,323 Deferred Income Tax Liability 317,574 326,718 Non-Current Debt 889,129 888,391 Other Non-Current Liabilities 38,589 35,259 Total Liabilities 1,367,981 1,404,691 Commitments and Contingencies (note 7) Equity Preferred stock, $ 1.00 par value, 100,000 shares authorized, no ne issued and outstanding - - Common stock, $ 0.16 par value, 315,000,000 shares authorized, 216,698,138 and 216,614,407 shares issued and outstanding 34,672 34,658 Additional paid-in capital 2,588,930 2,583,885 Accumulated other comprehensive loss ( 31,421