Neogen Posts $11.9M Fiscal Q1 Loss, Beats Revenue and Earnings Estimates

Neogen Corp. (NEOG) reported a fiscal first-quarter loss of $11.9 million, or 5 cents per share, on Tuesday, while adjusted earnings of 8 cents per share topped analyst forecasts. The Lansing, Michigan-based medical testing kit maker beat Wall Street expectations on both earnings and revenue. Three analysts surveyed by Zacks Investment Research had expected adjusted earnings of 5 cents per share, and four anticipated revenue of $208.1 million. Neogen posted quarterly revenue of $222.8 million, surpassing those forecasts. The company guided full-year revenue to a range of $885 million to $890 million.