George Christy

Neogen Corporation: A Food and Cattle Safety-Testing, E coli Play

"In addition, the lack of debt I mentioned earlier is due to the NEOG's past quarter. The company made $12.2 million this past June after offering 650,000 shares of common stock. The revenue from the stock offering paid the company's bank debt and the remainder was added to cash balances."
"revenue" from stock offering? "made" $12.2 million?

NEOG now has $17.5 million in its coffers to pursue more growth strategies, which will be focused primarily on its growing food safety sector."
The 8/31/06 balance sheet showed $5.5 million of cash + equivalents. That was as of 8/31/06, not today or 9/1/06.
This kind of language does a disservice to a nice company. I haven't done the Free Cash Flow numbers, but NEOG is certainly in the right place at the right time.