neog - Neogen's E.Coli Test adopted by Japan Message Board

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Biotech / Medical : neog - Neogen's E.Coli Test adopted by Japan

NEOG 6.410

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Nov 7 9:30 AM EST

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To: IN_GOD_I_TRUST who wrote (17)	8/31/1997 6:04:00 PM
From: Ken Sims	of 441

Has anyone seen revised earnings forcasts? With the obvious increase in sales of diagnostic test kits (USA and now Japan) and the resultant improvements of earnings in the past due to increased sales of the kits . . . ? Neog long - Ken biz.yahoo.com ``Obviously, when you set records for sales and earnings you have to be pleased with the results,'' said James Herbert, Neogen president and CEO, commenting on year-end results. ``We continue to believe the markets for our diagnostic product lines are substantial and will continue to grow at a rate approaching 20% per year. With over 140 different diagnostic products currently offered and ten additional products scheduled for release in the next 12 months, we are perfectly positioned to take advantage of the dynamic growth potential in the area of food safety testing.'' New regulations for the seafood industry, which become effective December 1997 and on-going implementation of revolutionary rule changes for the meat, poultry and egg industry are expected to have a positive impact on Neogen's future sales. In addition, concern over the safety and quality of food supplies is increasing worldwide. Neogen's international sales were 61% higher in 1997 than 1996 and represented 27% of the company's total revenues. ``If you exclude last year's restructuring charge and compare apples to apples, we generated a 300% improvement in earnings on a 24% increase in product sales,'' said Lon Bohannon, Neogen's chief financial officer. ``The high gross margins on diagnostic products result in significant bottom-line growth as sales increase. We continue to be enthusiastic about our future because we have really just begun to scratch the surface of sales potential for the meat, poultry and seafood markets.''

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