$NEOG
NEOGEN CORP

2015 Q1 Form 10-Q Financial Statement

#000119312515115905 Filed on April 01, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q2 2014 Q1
Revenue $68.41M $67.26M $62.00M
YoY Change 10.34% 20.1% 21.43%
Cost Of Revenue $34.71M $35.20M $31.29M
YoY Change 10.91% 27.54% 31.8%
Gross Profit $33.70M $32.04M $30.71M
YoY Change 9.76% 12.89% 12.42%
Gross Profit Margin 49.27% 47.63% 49.53%
Selling, General & Admin $19.18M $19.20M $18.31M
YoY Change 4.76% 17.79% 16.86%
% of Gross Profit 56.9% 59.93% 59.62%
Research & Development $2.366M $1.800M $2.106M
YoY Change 12.35% -5.26% 6.26%
% of Gross Profit 7.02% 5.62% 6.86%
Depreciation & Amortization $2.680M $2.540M $2.470M
YoY Change 8.5% 18.69% 24.75%
% of Gross Profit 7.95% 7.93% 8.04%
Operating Expenses $21.54M $21.10M $20.41M
YoY Change 5.54% 15.93% 15.67%
Operating Profit $12.16M $10.94M $10.29M
YoY Change 18.14% 7.44% 6.49%
Interest Expense $100.0K $0.00 $0.00
YoY Change
% of Operating Profit 0.82% 0.0% 0.0%
Other Income/Expense, Net -$526.0K $100.0K -$40.00K
YoY Change 1215.0% -200.0% -110.15%
Pretax Income $11.63M $11.20M $10.25M
YoY Change 13.47% 10.89% 1.92%
Income Tax $4.225M $3.600M $3.700M
% Of Pretax Income 36.32% 32.14% 36.09%
Net Earnings $7.409M $7.537M $6.575M
YoY Change 12.68% 7.2% -1.16%
Net Earnings / Revenue 10.83% 11.21% 10.61%
Basic Earnings Per Share $0.20 $0.20 $0.18
Diluted Earnings Per Share $0.20 $0.20 $0.18
COMMON SHARES
Basic Shares Outstanding 37.01M shares 36.73M shares 36.61M shares
Diluted Shares Outstanding 37.54M shares 37.23M shares

Balance Sheet

Concept 2015 Q1 2014 Q2 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.1M $76.50M $68.80M
YoY Change 48.4% -10.42% -7.77%
Cash & Equivalents $57.48M $40.68M $43.28M
Short-Term Investments $44.70M $35.80M $25.50M
Other Short-Term Assets $7.200M $9.200M $7.300M
YoY Change -1.37% 50.82% 28.07%
Inventory $55.10M $51.18M $51.86M
Prepaid Expenses
Receivables $52.89M $51.90M $48.07M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $217.3M $188.7M $176.0M
YoY Change 23.51% 12.05% 9.93%
LONG-TERM ASSETS
Property, Plant & Equipment $43.54M $41.95M $39.84M
YoY Change 9.3% 22.14% 19.23%
Goodwill $70.12M $68.19M $70.73M
YoY Change -0.86% 14.62% 14.58%
Intangibles $21.85M $25.23M $23.61M
YoY Change -7.44% 104.37%
Long-Term Investments
YoY Change
Other Assets $117.5M $114.6M $114.5M
YoY Change 2.62% 30.58% 30.85%
Total Long-Term Assets $161.1M $156.6M $154.4M
YoY Change 4.35% 28.21% 27.64%
TOTAL ASSETS
Total Short-Term Assets $217.3M $188.7M $176.0M
Total Long-Term Assets $161.1M $156.6M $154.4M
Total Assets $378.4M $345.3M $330.4M
YoY Change 14.56% 18.84% 17.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.59M $13.40M $11.77M
YoY Change -10.02% 45.42% 18.34%
Accrued Expenses $11.10M $11.60M $11.20M
YoY Change -0.89% 39.76% 27.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.55M $24.97M $24.53M
YoY Change 8.22% 40.91% 8.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.100M $1.900M $2.200M
YoY Change -4.55% -9.52% 10.0%
Total Long-Term Liabilities $15.17M $14.03M $14.69M
YoY Change 3.26% -3.56% 15.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.55M $24.97M $24.53M
Total Long-Term Liabilities $15.17M $14.03M $14.69M
Total Liabilities $41.72M $39.00M $39.23M
YoY Change 6.36% 20.85% 11.04%
SHAREHOLDERS EQUITY
Retained Earnings $206.2M $182.0M $174.5M
YoY Change 18.15% 18.3% 18.83%
Common Stock $5.927M $5.877M $5.862M
YoY Change 1.11% 1.8% 53.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $336.8M $306.4M $291.2M
YoY Change
Total Liabilities & Shareholders Equity $378.4M $345.3M $330.4M
YoY Change 14.56% 18.84% 17.55%

Cashflow Statement

Concept 2015 Q1 2014 Q2 2014 Q1
OPERATING ACTIVITIES
Net Income $7.409M $7.537M $6.575M
YoY Change 12.68% 7.2% -1.16%
Depreciation, Depletion And Amortization $2.680M $2.540M $2.470M
YoY Change 8.5% 18.69% 24.75%
Cash From Operating Activities $10.10M $4.510M $6.430M
YoY Change 57.08% -32.38% -24.88%
INVESTING ACTIVITIES
Capital Expenditures -$2.150M -$4.190M -$2.860M
YoY Change -24.83% 117.1% -20.56%
Acquisitions
YoY Change
Other Investing Activities -$1.460M -$10.29M -$7.240M
YoY Change -79.83% 6.74% -1783.72%
Cash From Investing Activities -$3.610M -$14.48M -$10.10M
YoY Change -64.26% 25.26% 218.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.100M 7.380M 3.140M
YoY Change -33.12% 20.98% 31.38%
NET CHANGE
Cash From Operating Activities 10.10M 4.510M 6.430M
Cash From Investing Activities -3.610M -14.48M -10.10M
Cash From Financing Activities 2.100M 7.380M 3.140M
Net Change In Cash 8.590M -2.590M -530.0K
YoY Change -1720.75% -314.05% -106.81%
FREE CASH FLOW
Cash From Operating Activities $10.10M $4.510M $6.430M
Capital Expenditures -$2.150M -$4.190M -$2.860M
Free Cash Flow $12.25M $8.700M $9.290M
YoY Change 31.86% 1.16% -23.6%

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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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us-gaap Stock Repurchased During Period Value
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0
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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2060000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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1000
us-gaap Share Based Compensation
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3187000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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P15Y
neog Environmental Remediation Expense Period Of Remediation
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.008 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.331 pure
CY2015Q1 us-gaap Earnings Per Share Diluted
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CY2015Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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CY2014Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
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-22000

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