Neogen Corporation
Founded in 1982, Neogen Corporation (NASDAQ: NEOG) has grown to more than 400 employees in multiple U.S. and international locations, and a worldwide presence. Neogen develops, manufactures and markets a diverse line of products dedicated to food and animal safety.

The Company’s Food Safety Division develops and markets dehydrated culture media, and rapid diagnostic test kits to detect foodborne bacteria, spoilage organisms, mycotoxins, food allergens, genetic modifications, drug residues, plant diseases, and sanitation concerns. Neogen’s Animal Safety Division develops and markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional supplements, disinfectants, and rodenticides.

One-stop Shop For Food And Animal Safety Solutions
Neogen understands that its customers face serious consequences if their products are contaminated with any of a number of well-established or emerging threats, including dangerous bacteria, natural toxins, veterinary drug residues, unlabeled food allergens, rodent filth, sanitation concerns, broken veterinary needles or other contaminants. Neogen excels at helping to identify safety concerns in the vast and changing landscape of food and animal safety.

Neogen sales representatives can help customers address a wide array of concern with a “one-stop testing shop” approach that is a big advantage in a business climate trending toward single-source suppliers. The company now has more than 200 diagnostic tests to offer customers, and a comprehensive line of complementary products and services, such as dehydrated culture media to go with unmatched customer support and training. Neogen employs a similar marketing strategy for its veterinary products, offering customers a wide variety of animal safety solutions.

Neogen provides around-the-clock professional technical support should questions arise about one of its products. The concept of “normal business hours” doesn’t apply to the industries the company serves, and it doesn’t apply to Neogen. The company’s product lines are also backed by an in-house research and development staff that develops new products, and updates existing offerings, in response to evolving market needs.

ISO 9001:2000 Certification
Neogen believes that maintaining earned trust is a combination of innovation and a continuous commitment to quality. Neogen’s ISO 9001:2000 certification communicates to the company’s worldwide customer base that it understands the quality standards customers expect, and is firmly committed to achieving those quality standards.

Growth Strategy
Neogen is working aggressively toward its goal of becoming the dominant provider of products dedicated to food and animal safety by using an approach focused in four areas: higher sales from existing products; introduction of new products; expansion of international markets; and acquisitions and strategic alliances.

This strategy has resulted in a remarkable record for increasing revenues from year to year, and recorded profits from operations in every quarter for many years.

Recognition in Investment Community
In recognition of this success, Neogen has been repeatedly named to Forbes Magazine’s list of the 200 Best Small Companies in America, and was chosen for the new Russell Microcap Index and by the NASDAQ National Market to be included in its top tier of listed companies, the Global Select Market.

Well Positioned For Growth
Food industry consultants have estimated the market for food safety testing moving toward $600 million. The movement to more testing can be partially attributed to increased corporate liability concerns, and to escalating government regulations affecting food producers worldwide. Management believes Neogen is well positioned to capture a sizable portion of this potential market as companies move to rapid, easy-to-use and inexpensive test methods — Neogen’s strength.

Management believes the markets for Neogen’s animal safety products are large and will grow, in part because of the strong link with food safety. Reducing stress on food animals by effectively reducing the adverse effects of rodents and dangerous pathogens, and improving the methods of administering vaccines and drugs has a significant impact on the subsequent safety and quality of meat and milk.

Growth Outlook
Neogen’s customers face serious consequences if their products are contaminated with any of a number of well-established or emerging threats. No other company offers the breadth of products, variety of formats, and packaging options to provide the efficient solutions that food and animal safety customers are seeking.

With a solid distribution system in place, and many years of experience in developing and marketing products to the food and animal safety, Neogen is poised to earn a sizable portion of this growth for our shareholders, and continue to build strong shareholder values.