Neogen Corporation (NASDAQ:NEOG) Q4 2022 Earnings Conference Call July 26, 2022 11:00 AM ET
Company Participants
John Adent - President and CEO
Steve Quinlan - Chief Financial Officer
Conference Call Participants
Andrew Brackmann - William Blair
Operator
Good morning. And welcome to the Neogen Corporation Fourth Quarter and Full Year 2022 Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions]
Please note, this event is being recorded. I would now like to turn the conference over to Mr. John Adent, President and CEO. Please go ahead.
John Adent
Good morning. And welcome to our regular quarterly conference call for investors and analysts. Today we will be reporting on the fourth quarter and the full 2022 fiscal year, which ended on May 31st.
As usual, some of the statements today could be termed as forward-looking statements. These statements are subject to certain risks and uncertainties, and our actual results may differ from those that we discuss today. The risks associated in our business are covered in part in the company’s Form 10-K as filed with the Securities and Exchange Commission.
In addition to those of you who are joining us by live telephone conference, we also want to welcome those of you online. Following our prepared comments this morning, we will address questions from participants who have joined this live conference.
I am joined again this morning by Steve Quinlan, our Chief Financial Officer, who will provide some additional details on our results for both the quarter and the full fiscal year.
As we reported in our press release this morning, we are pleased to report record revenues of our 2022 fiscal year with an overall increase of 13% over the prior year. I am incredibly proud of our entire Neogen team for all their hard work and their continued dedication to our mission to be the leading company in the development and marketing solutions for Animal and Food Safety. It hasn’t been an easy year, but their enthusiasm and hard work every day inspire us as we work toward our goals.
The fourth quarter was a strong conclusion to a great fiscal year, reporting revenue growth of over 10% from the prior fiscal year to achieve a fourth quarter with double-digit top and bottomline growth, while preparing for the integration of the 3M business is a tremendous accomplishment and shows the strength of our exceptional team. The momentum from this quarter has helped propel us into our new fiscal year and toward the close of our 3M Food Safety transaction.