Company: NEOG
Filing Date: 2025-07-30
Form Type: 10-K
Source: 0000950170-25-100064
Chunk: 8

Company: NEOGEN CORP
Filing Date: 2025-07-30
Form: 10-K
Item: Item 6
Chunk 8
---
 Pillar Two. Many countries continue to announce changes in their tax laws and regulations based on the Pillar Two framework. Additionally, U.S Congress enacted the One Big Beautiful Bill Act (“OBBBA”) which includes significant provisions, including tax cut extensions and modifications to the international tax framework. While we continue to evaluate the impact of these legislative changes as additional guidance becomes available, uncertainty remains regarding the timing and interpretation by tax authorities in affected jurisdictions. These legislative changes could have an adverse impact on our future effective tax rate, tax liabilities, and cash tax.﻿ 

35

SEGMENT RESULTS OF OPERATIONS 

     Year Ended May 31

     2025

     2024

     Increase / (Decrease)

     % Change

     Food Safety Revenues
      
     $
     638,140

     $
     655,341

     $
     (17,201
     )

     (3
     )%

     Animal Safety Revenues

     256,521

     268,881

     (12,360
     )

     (5
     )%

     Total Revenues
      
     $
     894,661

     $
     924,222

     $
     (29,561
     )

     (3
     )%

     Food Safety
      
     $
     (985,670
     )
      
     $
     82,446

     $
     (1,068,116
     )

     (1296
     )%

     Animal Safety

     7,247

     39,320

     (32,073
     )

     (82
     )%

     Segment Operating (Loss) Income
      
     $
     (978,423
     )
      
     $
     121,766

     $
     (1,100,189
     )

     (904
     )%

     Corporate Expenses

     (82,574
     )

     (63,103
     )

     (19,471
     )

     31
     %

     Total Operating (Loss) Income
      
     $
     (1,060,997
     )
      
     $
     58,663

     $
     (1,119,660
     )

     (1909
     )%
    
    Revenues Revenue for the Food Safety segment decreased $17.2 million during fiscal year 2025 compared to the prior year. The decrease was primarily due