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Meridian Sets 2010 Outlook Within Wall Street View

CINCINNATI (AP) ¿ Meridian Bioscience Inc. on Tuesday set its fiscal 2010 profit guidance within Wall Street expectations and reaffirmed its fiscal 2009 outlook.

The company expects profit between 90 cents and 95 cents per share on revenue between $160 million and $165 million in fiscal 2010. Analysts surveyed by Thomson Reuters expect profit of 92 cents per share on revenue of $158.4 million. The fiscal 2010 period ends Sept. 30, 2010.

"We have been diligent in assessing Meridian's growth and profitability drivers for fiscal 2010 and we believe that this guidance is realistic," said CEO John A. Kraeutler, in a statement.

Meanwhile, the company expects profit between 77 cents and 81 cents per share in fiscal 2009 on revenue between $140 million and $144 million. Analysts expect profit of 79 cents on revenue of $144.5 million. The fiscal 2009 year ends Sept. 30.

Shares of Meridian fell 25 cents to close at $24.93.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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