to the extent customer payment is received before all recognition criteria have been met , these revenues are initially deferred and later recognized in the period that all recognition criteria has been met . accounts receivable allowance management attempts to minimize credit risk by reviewing customers ' credit history before extending credit and by monitoring credit exposure on a regular basis . an allowance for doubtful accounts on accounts receivable is established based upon factors surrounding the credit risk of specific customers , historical trends and other information . collateral or other security is generally not required for accounts receivable . once a receivable balance has been determined to be uncollectible , that amount is written off to the allowance for doubtful accounts . inventory a reserve for obsolete and slow moving inventory has been established and is reviewed at least quarterly based on an analysis of the inventory taking into account the current condition of the asset as well as other known facts and future plans . the amount of reserve required to record inventory at lower of cost or market may be adjusted as conditions change . product obsolescence may be caused by shelf-life expiration , discontinuance of a product line , replacement products in the marketplace or other competitive situations . goodwill and other intangible assets goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses after amounts are allocated to other identifiable intangible assets . other intangible assets include customer relationships , trademarks , licenses , trade names , covenants not-to-compete and patents . amortizable intangible assets are amortized on either an accelerated or a straight-line basis over five to 20 years . the company reviews the carrying amounts of goodwill and other non-amortizable intangible assets annually , or when indications of impairment exist , to determine if such assets may be impaired . if the company 's qualitative assessment concludes that it is more likely than not that an impairment exists , or the company skips the qualitative assessment , then the company performs a quantitative assessment . if the carrying amounts of these assets are deemed to be less than fair value based upon a discounted cash flow analysis and comparison to comparable ebitda multiples of peer companies , such assets are reduced to their estimated fair value and a charge is made to operations . 20 long-lived assets management reviews the carrying values of its long-lived assets to be held and used , including definite-lived intangible assets , for possible impairment whenever events or changes in business conditions warrant such a review . the carrying value of a long-lived asset is considered impaired when the anticipated separately identifiable undiscounted cash flows over the remaining useful life of the asset indicate that the carrying amount of the assets may not be recoverable . in such an event , fair value is determined using discounted cash flows and if lower than the carrying value , impairment is recognized through a charge to operations . equity compensation plans share options awarded to employees and shares of stock awarded to employees under certain stock purchase plans are recognized as compensation expense based on their fair value at grant date . the fair market value of options granted under the company 's stock option plans was estimated on the date of grant using the black-scholes option-pricing model using assumptions for inputs such as interest rates , expected dividends , volatility measures and specific employee exercise behavior patterns based on statistical data . some of the inputs used are not market-observable and have to be estimated or derived from available data . use of different estimates would produce different option values , which in turn would result in higher or lower compensation expense recognized . to value options , several recognized valuation models exist . none of these models can be singled out as being the best or most correct one . the model applied by the company is able to handle some of the specific features included in the options granted , which is the reason for its use . if a different model were used , the option values could differ despite using the same inputs . accordingly , using different assumptions coupled with using a different valuation model could have a significant impact on the fair value of employee stock options . fair value could be either higher or lower than the ones produced by the model applied and the inputs used . further information on the company 's equity compensation plans , including inputs used to determine fair value of options , is disclosed in note 5 to the consolidated financial statements . 21 results of operations executive overview neogen corporation achieved total revenue of $ 247.4 million in fiscal 2014 , a 19 % increase compared to revenue of $ 207.5 million in fiscal 2013. net income attributable to neogen for fiscal 2014 increased 4 % to $ 28.2 million , or $ 0.76 per fully diluted share , compared to $ 27.2 million , or $ 0.75 per fully diluted share , in fiscal 2013. cash flow from operations for fiscal 2014 was $ 21.7 million , compared to $ 26.6 million in fiscal 2013. the company 's food safety segment revenues were $ 116.3 million in fiscal 2014 , up 10 % compared to the prior year . animal safety segment revenues increased $ 29.7 million , or 29 % , to $ 131.1 million in fiscal 2014 as compared to fiscal 2013. in fiscal 2014 , the company benefitted from recent acquisitions , which added revenue totaling $ 23.7 million during the year . the syrvet acquisition in july 2013 helped neogen gain market share , especially internationally , in needles and other veterinary instruments . story_separator_special_tag animal safety gross margins were 38 % , 41 % and 36 % in fiscal years 2014 , 2013 and 2012 , respectively . the decrease in gross margin percentage in fiscal 2014 was due primarily to the three acquisitions completed this year , and product mix shifts within the segment during the year resulting from lower sales of small animal supplements as a market supply disruption was resolved , and lower rodenticide revenues , which carry relatively high gross margins within the segment , due to poor weather and difficult economic conditions in a number of international markets . additionally , margins in the agrigenomics business declined in fiscal 2014 as the result of the completion of a number of larger , lower margin projects , inefficiencies caused by a spike in volume and excessive manual handling of samples . the gross margin improvement in fiscal 2013 compared to fiscal 2012 was the result of a favorable shift in product mix resulting from higher sales in several higher margin product lines , including small animal supplements , rodenticides and the uniprim equine antibiotic . operating expenses replace_table_token_7_th sales and marketing expenses increased by 14 % in fiscal 2014 and by 16 % in fiscal 2013 , each compared with the prior year . as a percentage of sales , sales and marketing expense was 19 % , 20 % and 19 % in fiscal years 2014 , 2013 and 2012 , respectively . the company has continued to add personnel to increase its sales and marketing capabilities worldwide , and the largest components of increases in this expense category are salaries and commissions , which increased 11 % in fiscal 2014 and 15 % in fiscal 2013. other significant increases in both fiscal years were for royalties , based on increased sales of products requiring royalty payments , advertising and distributor marketing support , and shipping expenses , both domestic and international . general and administrative expenses increased 21 % in fiscal 2014 compared to fiscal 2013 and by 19 % in fiscal 2013 compared to fiscal 2012. the increases in fiscal years 2014 and 2013 , respectively , are primarily due to increased salary and other personnel related expenses , higher stock option expense and increased amortization of intangible assets resulting from the company 's recent acquisitions . the company continues to make investments in its information technology infrastructure , and recognized a 25 % increase in depreciation expense in fiscal 2014 , for computers , servers and networking equipment , and additional license fees and support for the operating systems the company deploys . research and development expenses increased 7 % in fiscal 2014 compared to fiscal 2013 and by 17 % in fiscal 2013 compared to fiscal 2012. as a percentage of revenue , these expenses were 3 % in fiscal 2014 , and 4 % in fiscal years 2013 and 2012. the decline in expenditures , expressed as a percentage of revenue , is attributable to the recent acquisitions the company completed , which contributed $ 23.7 million in revenue , with products which generally require relatively less investment in research and development . the company continues to increase spending for research and development ; such expenditures have increased $ 1.7 million since fiscal 2012. for those products requiring support by research and development , which are primarily food safety diagnostics products , the company estimates that it spends 8-10 % of revenues in its research and development efforts and expects to continue to spend 3 % to 5 % of total revenue on research and development annually . 26 operating income replace_table_token_8_th the company 's operating income increased by 7 % in fiscal 2014 compared to fiscal 2013 , and by 21 % in fiscal 2013 compared to fiscal 2012. expressed as a percentage of revenues , it was 18 % , 20 % and 18 % in fiscal years 2014 , 2013 and 2012 , respectively . the increase of 7 % in operating income was largely the result of the 19 % increase in revenues ; however , product mix shifts within both the food safety and animal safety segments towards lower margin products , and the lower gross margins from the three acquisitions , resulted in a 320 basis point reduction in the overall gross margin percentage , and was the primary reason operating income as a percentage of revenues declined from 20 % in fiscal 2013 to 18 % in fiscal 2014. the increase in operating income in fiscal 2013 overall and expressed at a percentage of revenue , was driven by the 13 % increase in revenues , which when combined with improved gross margins compared to fiscal 2012 , more than offset increased operating expenses for that year . historically , the company has been successful in improving its operating income from revenue and gross margin growth from existing products and acquisitions , while controlling manufacturing , distribution and administrative costs . during fiscal 2014 , the company continued to control its overall operating expenses and grew its operating income ; however , gross margin compression adversely impacted the rate of that growth to below the rate of increase in revenues . other income ( expense ) replace_table_token_9_th other income ( expense ) consists principally of royalty income , interest income from investing the company 's excess cash balances , the impact of foreign currency transactions , adjustments to contingent considerations and other miscellaneous items . in fiscal 2014 , other income ( expense ) consisted primarily of losses on foreign currency translations of $ 717,000 most of which occurred in this year 's first quarter , partially offset by $ 231,000 in royalty income and $ 115,000 in interest income . in fiscal 2013 , other income primarily consisted of royalty income totaling $ 364,000 , interest income of $ 144,000 , and $ 100,000 for the reversal of the contingent consideration obligation relating to the igenity

financial condition and liquidity on may 31 , 2014 , the company had $ 40.7 million in cash and cash equivalents , $ 35.8 million in marketable securities , and working capital of $ 163.8 million . the company has a financing agreement with a bank providing for an unsecured revolving line of credit of $ 12.0 million which was amended in may 2014 to extend the expiration to september 1 , 2017. there were no advances against this line of credit during fiscal years 2014 , 2013 and 2012 , and no balance outstanding at may 31 , 2014 and 2013. for the year ended may 31 , 2014 , cash generated from operating activities was $ 21.7 million ; proceeds from stock option activity provided an additional $ 14.9 million of cash . for the same period , additions to property and equipment and business acquisitions used cash of $ 11.5 million and $ 39.3 million , respectively . accounts receivable at may 31 , 2014 increased $ 13.2 million , or 34 % , compared to may 31 , 2013 , primarily due to the increase in revenues . days sales outstanding , a measurement of the time it takes to collect receivables , increased from 57 days at may 31 , 2013 to 64 days at may 31 , 2014 ; the increase is due primarily to slower collections on international balances , and , to a lesser extent , the timing of revenues generated in the last two months of each fiscal year .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```financial condition and liquidity on may 31 , 2014 , the company had $ 40.7 million in cash and cash equivalents , $ 35.8 million in marketable securities , and working capital of $ 163.8 million . the company has a financing agreement with a bank providing for an unsecured revolving line of credit of $ 12.0 million which was amended in may 2014 to extend the expiration to september 1 , 2017. there were no advances against this line of credit during fiscal years 2014 , 2013 and 2012 , and no balance outstanding at may 31 , 2014 and 2013. for the year ended may 31 , 2014 , cash generated from operating activities was $ 21.7 million ; proceeds from stock option activity provided an additional $ 14.9 million of cash . for the same period , additions to property and equipment and business acquisitions used cash of $ 11.5 million and $ 39.3 million , respectively . accounts receivable at may 31 , 2014 increased $ 13.2 million , or 34 % , compared to may 31 , 2013 , primarily due to the increase in revenues . days sales outstanding , a measurement of the time it takes to collect receivables , increased from 57 days at may 31 , 2013 to 64 days at may 31 , 2014 ; the increase is due primarily to slower collections on international balances , and , to a lesser extent , the timing of revenues generated in the last two months of each fiscal year .
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 Suspicious Activity Report : to the extent customer payment is received before all recognition criteria have been met , these revenues are initially deferred and later recognized in the period that all recognition criteria has been met . accounts receivable allowance management attempts to minimize credit risk by reviewing customers ' credit history before extending credit and by monitoring credit exposure on a regular basis . an allowance for doubtful accounts on accounts receivable is established based upon factors surrounding the credit risk of specific customers , historical trends and other information . collateral or other security is generally not required for accounts receivable . once a receivable balance has been determined to be uncollectible , that amount is written off to the allowance for doubtful accounts . inventory a reserve for obsolete and slow moving inventory has been established and is reviewed at least quarterly based on an analysis of the inventory taking into account the current condition of the asset as well as other known facts and future plans . the amount of reserve required to record inventory at lower of cost or market may be adjusted as conditions change . product obsolescence may be caused by shelf-life expiration , discontinuance of a product line , replacement products in the marketplace or other competitive situations . goodwill and other intangible assets goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses after amounts are allocated to other identifiable intangible assets . other intangible assets include customer relationships , trademarks , licenses , trade names , covenants not-to-compete and patents . amortizable intangible assets are amortized on either an accelerated or a straight-line basis over five to 20 years . the company reviews the carrying amounts of goodwill and other non-amortizable intangible assets annually , or when indications of impairment exist , to determine if such assets may be impaired . if the company 's qualitative assessment concludes that it is more likely than not that an impairment exists , or the company skips the qualitative assessment , then the company performs a quantitative assessment . if the carrying amounts of these assets are deemed to be less than fair value based upon a discounted cash flow analysis and comparison to comparable ebitda multiples of peer companies , such assets are reduced to their estimated fair value and a charge is made to operations . 20 long-lived assets management reviews the carrying values of its long-lived assets to be held and used , including definite-lived intangible assets , for possible impairment whenever events or changes in business conditions warrant such a review . the carrying value of a long-lived asset is considered impaired when the anticipated separately identifiable undiscounted cash flows over the remaining useful life of the asset indicate that the carrying amount of the assets may not be recoverable . in such an event , fair value is determined using discounted cash flows and if lower than the carrying value , impairment is recognized through a charge to operations . equity compensation plans share options awarded to employees and shares of stock awarded to employees under certain stock purchase plans are recognized as compensation expense based on their fair value at grant date . the fair market value of options granted under the company 's stock option plans was estimated on the date of grant using the black-scholes option-pricing model using assumptions for inputs such as interest rates , expected dividends , volatility measures and specific employee exercise behavior patterns based on statistical data . some of the inputs used are not market-observable and have to be estimated or derived from available data . use of different estimates would produce different option values , which in turn would result in higher or lower compensation expense recognized . to value options , several recognized valuation models exist . none of these models can be singled out as being the best or most correct one . the model applied by the company is able to handle some of the specific features included in the options granted , which is the reason for its use . if a different model were used , the option values could differ despite using the same inputs . accordingly , using different assumptions coupled with using a different valuation model could have a significant impact on the fair value of employee stock options . fair value could be either higher or lower than the ones produced by the model applied and the inputs used . further information on the company 's equity compensation plans , including inputs used to determine fair value of options , is disclosed in note 5 to the consolidated financial statements . 21 results of operations executive overview neogen corporation achieved total revenue of $ 247.4 million in fiscal 2014 , a 19 % increase compared to revenue of $ 207.5 million in fiscal 2013. net income attributable to neogen for fiscal 2014 increased 4 % to $ 28.2 million , or $ 0.76 per fully diluted share , compared to $ 27.2 million , or $ 0.75 per fully diluted share , in fiscal 2013. cash flow from operations for fiscal 2014 was $ 21.7 million , compared to $ 26.6 million in fiscal 2013. the company 's food safety segment revenues were $ 116.3 million in fiscal 2014 , up 10 % compared to the prior year . animal safety segment revenues increased $ 29.7 million , or 29 % , to $ 131.1 million in fiscal 2014 as compared to fiscal 2013. in fiscal 2014 , the company benefitted from recent acquisitions , which added revenue totaling $ 23.7 million during the year . the syrvet acquisition in july 2013 helped neogen gain market share , especially internationally , in needles and other veterinary instruments . story_separator_special_tag animal safety gross margins were 38 % , 41 % and 36 % in fiscal years 2014 , 2013 and 2012 , respectively . the decrease in gross margin percentage in fiscal 2014 was due primarily to the three acquisitions completed this year , and product mix shifts within the segment during the year resulting from lower sales of small animal supplements as a market supply disruption was resolved , and lower rodenticide revenues , which carry relatively high gross margins within the segment , due to poor weather and difficult economic conditions in a number of international markets . additionally , margins in the agrigenomics business declined in fiscal 2014 as the result of the completion of a number of larger , lower margin projects , inefficiencies caused by a spike in volume and excessive manual handling of samples . the gross margin improvement in fiscal 2013 compared to fiscal 2012 was the result of a favorable shift in product mix resulting from higher sales in several higher margin product lines , including small animal supplements , rodenticides and the uniprim equine antibiotic . operating expenses replace_table_token_7_th sales and marketing expenses increased by 14 % in fiscal 2014 and by 16 % in fiscal 2013 , each compared with the prior year . as a percentage of sales , sales and marketing expense was 19 % , 20 % and 19 % in fiscal years 2014 , 2013 and 2012 , respectively . the company has continued to add personnel to increase its sales and marketing capabilities worldwide , and the largest components of increases in this expense category are salaries and commissions , which increased 11 % in fiscal 2014 and 15 % in fiscal 2013. other significant increases in both fiscal years were for royalties , based on increased sales of products requiring royalty payments , advertising and distributor marketing support , and shipping expenses , both domestic and international . general and administrative expenses increased 21 % in fiscal 2014 compared to fiscal 2013 and by 19 % in fiscal 2013 compared to fiscal 2012. the increases in fiscal years 2014 and 2013 , respectively , are primarily due to increased salary and other personnel related expenses , higher stock option expense and increased amortization of intangible assets resulting from the company 's recent acquisitions . the company continues to make investments in its information technology infrastructure , and recognized a 25 % increase in depreciation expense in fiscal 2014 , for computers , servers and networking equipment , and additional license fees and support for the operating systems the company deploys . research and development expenses increased 7 % in fiscal 2014 compared to fiscal 2013 and by 17 % in fiscal 2013 compared to fiscal 2012. as a percentage of revenue , these expenses were 3 % in fiscal 2014 , and 4 % in fiscal years 2013 and 2012. the decline in expenditures , expressed as a percentage of revenue , is attributable to the recent acquisitions the company completed , which contributed $ 23.7 million in revenue , with products which generally require relatively less investment in research and development . the company continues to increase spending for research and development ; such expenditures have increased $ 1.7 million since fiscal 2012. for those products requiring support by research and development , which are primarily food safety diagnostics products , the company estimates that it spends 8-10 % of revenues in its research and development efforts and expects to continue to spend 3 % to 5 % of total revenue on research and development annually . 26 operating income replace_table_token_8_th the company 's operating income increased by 7 % in fiscal 2014 compared to fiscal 2013 , and by 21 % in fiscal 2013 compared to fiscal 2012. expressed as a percentage of revenues , it was 18 % , 20 % and 18 % in fiscal years 2014 , 2013 and 2012 , respectively . the increase of 7 % in operating income was largely the result of the 19 % increase in revenues ; however , product mix shifts within both the food safety and animal safety segments towards lower margin products , and the lower gross margins from the three acquisitions , resulted in a 320 basis point reduction in the overall gross margin percentage , and was the primary reason operating income as a percentage of revenues declined from 20 % in fiscal 2013 to 18 % in fiscal 2014. the increase in operating income in fiscal 2013 overall and expressed at a percentage of revenue , was driven by the 13 % increase in revenues , which when combined with improved gross margins compared to fiscal 2012 , more than offset increased operating expenses for that year . historically , the company has been successful in improving its operating income from revenue and gross margin growth from existing products and acquisitions , while controlling manufacturing , distribution and administrative costs . during fiscal 2014 , the company continued to control its overall operating expenses and grew its operating income ; however , gross margin compression adversely impacted the rate of that growth to below the rate of increase in revenues . other income ( expense ) replace_table_token_9_th other income ( expense ) consists principally of royalty income , interest income from investing the company 's excess cash balances , the impact of foreign currency transactions , adjustments to contingent considerations and other miscellaneous items . in fiscal 2014 , other income ( expense ) consisted primarily of losses on foreign currency translations of $ 717,000 most of which occurred in this year 's first quarter , partially offset by $ 231,000 in royalty income and $ 115,000 in interest income . in fiscal 2013 , other income primarily consisted of royalty income totaling $ 364,000 , interest income of $ 144,000 , and $ 100,000 for the reversal of the contingent consideration obligation relating to the igenity

