Neogen honored by Forbes and Queen Elizabeth

November 06, 2007

CONTACT: Rod Poland, Director of Corporate Communications, 517-372-9200

LANSING, Mich., Nov. 6, 2007 — Forbes Magazine has named Neogen Corporation (Nasdaq: NEOG) to its annual list of the 200 Best Small Companies in America for the sixth time in eight years.

“Our 200 Best Small Companies in America must pass through a gauntlet to qualify for the list. We judged candidates—all with revenues between $5 million and $750 million and share prices above $5 as of Oct. 1—according to return on equity, as well as sustained sales and net profit growth over 12-month and five-year periods,” said Forbes’ editors in announcing the list. “Too much debt, signs of a downturn in the future, or a whiff of legal troubles, are all disqualifiers.”

“We are very proud of this recognition, and the trust that we’ve earned based on consistent growth in sales and operating profits,” said James Herbert, Neogen’s chairman and CEO.

Neogen’s recent success is, in part, being driven by its growing international sales. In its most recently completed quarter, the percentage of overall sales from international markets reached 40% of the company’s total revenues for the first time ever. In recognition of this growth, Neogen recently received two honors:

  • The British-American Business Council honored Neogen’s Scotland-based subsidiary Neogen Europe with a British Consul General Award for its innovation in the development and marketing of solutions for food and animal safety, and creation of high quality jobs as a result of its rapid growth. The event recognizes corporations and/or individuals who have made significant contributions to furthering relations and commerce between the United Kingdom and the United States.
  • Neogen Europe was honored with the Queen’s Award for Enterprise, which is regarded as the most prestigious business award in the United Kingdom.

“The Royal Seal of Approval is worth its weight in gold in terms of how customers and potential customers perceive winning companies,” said Dr. Stephen Holmes, Neogen Europe’s managing director. “Receiving the Queen’s personal congratulations at Buckingham Palace was certainly gratifying for all of our employees.”

The awards are presented to companies in the UK of all sizes in the categories of International Trade, Innovation and Sustainable Development. Neogen Europe received its Award for International Trade. Neogen Corporation develops and markets products dedicated to food and animal safety. The company’s Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.


Category: Earnings