Company: NEOG
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0000950170-25-005818
Chunk: 5

Company: NEOGEN CORP
Filing Date: 2025-01-15
Form: 10-Q
Item: Item 1
Chunk 5
---
 Proceeds from the maturities of marketable securities

    325

    57,828

    Proceeds from the sale of property and equipment and other

    4,446

    70

    Net Cash (used for) provided by Investing Activities

    (50,819
    )

    2,852

    Cash Flows (used for) provided by Financing Activities

    Exercise of stock options and issuance of employee stock purchase plan shares

    1,182

    1,230

    Tax payments related to share-based awards

    (1,439
    )

    (89
    )

    Repayment of finance lease and other

    (173
    )

    (389
    )

    Net Cash (used for) provided by Financing Activities

    (430
    )

    752

    Effects of Foreign Exchange Rate on Cash

    (1,470
    )

    198

    Net (Decrease) Increase in Cash and Cash Equivalents

    (30,380
    )

    42,525

    Cash and Cash Equivalents, Beginning of Year

    170,611

    163,240

    Cash and Cash Equivalents, End of Year
     
    $
    140,231

    $
    205,765

    Supplemental cash flow information

    Right of use assets obtained in exchange for new operating lease liabilities
     
    $
    5,802

    $
    2,198

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

NEOGEN CORPORATION

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 

(Dollar amounts in thousands except shares)

1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION DESCRIPTION OF BUSINESS Neogen Corporation and subsidiaries ("Neogen," "we," "our" or the "Company") develop, manufacture and market a diverse line of products and services dedicated to food and animal safety. Our Food Safety segment consists primarily of diagnostic test kits and complementary products (e.g., culture media) sold to food producers and processors to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues and general sanitation concerns. The majority of the test kits are disposable