Earnings Call Excerpt
Neogen Corporation (NEOG)
F2Q09 Earnings Call
January 6, 2009 11:00 am ET
Executives
James L. Herbert - Chairman and Chief Executive Officer
Lon M. Bohannon - President and Chief Operating Officer
Richard R. Current - Chief Financial Officer
Analysts
Stephen O'Neil - Hilliard Lyons
Anton Brenner - Roth Capital Partners
Scott Gleason - Stephens
Steven Crowley - Craig-Hallum Capital Group
Presentation
Operator
Welcome to the Neogen Corporation second quarter fiscal year 2009 earnings announcement conference call. (Operator Instructions) For opening remarks and introductions, I would like to turn the conference over to Jim Herbert.
James L. Herbert
Good morning and welcome to our regular quarterly conference call for investors and analysts. Today we will be reporting on Neogen’s second quarter that ended on the November 30, 2008.
Before starting, I would remind you that some of the statements that are made here today could be termed as forward-looking statements. These forward-looking statements, of course, are subject to certain risks and uncertainties. The actual results, of course, could differ from those that we discuss today. These risks that are associated with our business are covered in part in the Company’s Form 10-K as filed with the Securities and Exchange Commission.
In addition to those of you that are joining us today by live telephone conference, I would also welcome those who may be joining by way of simulcast on the World Wide Web. These comments, along with some exhibits, will be available on the Web for approximately 90 days. Following comments this morning, we will entertain questions from participants who are joined by this live telephone conference, and I am joined today by Lon Bohannon, Neogen’s President, and Rick Current, our Chief Financial Officer.
Earlier today Neogen issued a press release announcing results of our second quarter that ended on the November 30, 2008. We reported that net income of approximately $3.9 million was a 20% increase over the same quarter last year and a new record for Neogen.
On a per-share basis the income for the quarter translated to $0.26 per share as compared to $0.22 a year ago.
In the first six months our net income was approximately $7.6 million, or 22% greater than the first half of last year. This translates to $0.51 per share for our current year as compared to $0.42 per share a year ago.
The second quarter revenues increased 15% to approximately $31.2 million compared to last year’s $27.2 million.
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