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Neogen (NEOG) - Get Free Report shares moved sharply lower Tuesday after the animal-health company's fiscal-first-quarter earnings came up short of analysts' expectations.

The stock was trading down 11% at $67.01.

For the quarter ended Aug. 31, the Lansing, Mich., company earned 28 cents a share against 29 cents in the year-earlier quarter. Revenue was $101.4 million, up 1.8% from $99.6 million.

A survey of analysts by FactSet produced consensus estimates of profit of 30 cents a share on revenue of $105.2 million.

"Even considering the difficult international business climate created by the continuing strong U.S. dollar and the U.S. trade issues with China and elsewhere, we must work to produce better results," President and CEO John Adent said in a statement.

The company was, however, pleased with its genomics business, he said.

Neogen is continuing to expand its genomics labs in China, Brazil, Canada and the U.K. and is beginning to expand at the flagship operation in Lincoln, Neb., he said. Demand for genomics services is accelerating, the executive said.

Gross-profit margin for the company widened in the quarter to 47.5% of sales from 46.9% a year earlier, driven by the domestic genomics business and by wider-margin sales in food safety.

Currency fluctuations knocked $1.2 million off the quarter's revenue, Chief Financial Officer Steve Quinlan said.

Neogen shares are trading in the middle of their 52-week range of $50.60 to $83.78. For 2019 through Monday, they hadsurged 32%. The stock doesn't pay a dividend.