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v3.7.0.1

Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended
--- | ---
May 31, 2017 | May 31, 2016 | May 31, 2015
Revenues |  |  |
Product revenues | $ 306,512 | $ 273,570 | $ 243,909
Service revenues | 55,082 | 47,705 | 39,165
Total Revenues | 361,594 | 321,275 | 283,074
Cost of Revenues |  |  |
Cost of product revenues | 156,568 | 137,766 | 120,377
Cost of service revenues | 33,058 | 30,445 | 23,012
Total Cost of Revenues | 189,626 | 168,211 | 143,389
Gross Margin | 171,968 | 153,064 | 139,685
Operating Expenses |  |  |
Sales and marketing | 62,424 | 57,599 | 51,757
General and administrative | 34,214 | 29,189 | 25,233
Research and development | 10,385 | 9,890 | 9,577
Total Operating Expenses | 107,023 | 96,678 | 86,567
Operating Income | 64,945 | 56,386 | 53,118
Other Income (Expense) |  |  |
Interest income | 838 | 322 | 228
Royalty income | 171 | 217 | 150
Change in purchase consideration | 18 |  | (297)
Other, net | 701 | (1,412) | (1,123)
Nonoperating Income (Expense), Total | 1,728 | (873) | (1,042)
Income Before Income Taxes | 66,673 | 55,513 | 52,076
Provision for Income Taxes | 22,700 | 18,975 | 18,500
Net Income | 43,973 | 36,538 | 33,576
Net (Income) Loss Attributable to Non-controlling Interest | (180) | 26 | (50)
Net Income Attributable to Neogen | $ 43,793 | $ 36,564 | $ 33,526
Net Income Attributable to Neogen per Share |  |  |
Basic | $ 1.16 | $ 0.98 | $ 0.91
Diluted | $ 1.14 | $ 0.97 | $ 0.90

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