Company: NEOG
Filing Date: 2025-01-15
Form Type: 10-Q
Source: 0000950170-25-005818
Chunk: 36

Company: NEOGEN CORP
Filing Date: 2025-01-15
Form: 10-Q
Item: Item 2
Chunk 36
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 Other Expense

    Interest income

    774

    1,863

    (1,089
    )

    1,767

    3,653

    (1,886
    )

    Interest expense

    (18,141
    )

    (18,032
    )

    (109
    )

    (36,756
    )

    (36,488
    )

    (268
    )

    Other expense, net

    (1,721
    )

    (2,043
    )

    322

    (1,965
    )

    (2,849
    )

    884

    Total Other Expense

    (19,088
    )

    (18,212
    )

    (876
    )

    (36,954
    )

    (35,684
    )

    (1,270
    )

    Loss Before Taxes

    (476,572
    )

    (3,747
    )

    (472,825
    )

    (492,181
    )

    (2,084
    )

    (490,097
    )

    Income Tax Benefit

    (20,290
    )

    (260
    )

    (20,030
    )

    (23,290
    )

    (100
    )

    (23,190
    )

    Net Loss
     
    $
    (456,282
    )
     
    $
    (3,487
    )
     
    $
    (452,795
    )
     
    $
    (468,891
    )
     
    $
    (1,984
    )
     
    $
    (466,907
    )

Results of Operations

Revenues 

Revenue increased $1.6 million during the three months ended November 30, 2024 compared to the three months ended November 30, 2023. The increase included $8.1 million growth in the business offset by a $5.8 million unfavorable foreign exchange rate impact and a $0.7 million unfavorable impact due to discontinued product lines. The increase in the business was driven by new sales in the food quality and nutritional analysis product line paired with continued strength in indicator testing and rodent control product lines and higher sales of our hygiene monitoring product line. These were partially offset by reduced sales of sample collection products due to production constraints and lower genomics volume due primarily