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Flu Test Sales Boost Meridian 3Q Profit 16 Percent

Meridian said its fiscal 2009 profit increased 8 percent to $32.8 million, or 80 cents per share, from $30.2 million, or 74 cents per share. Revenue grew 6 percent to $148.3 million from $139.6 million.

The company backed its profit guidance for fiscal 2010. Meridian expects a profit of 90 cents to 95 cents per share in fiscal 2010, on $160 million to $165 million in revenue. Analysts are forecasting 92 cents per share and $160.2 million in the year ending Sept. 30.

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 This material may not be published, broadcast, rewritten or redistributed.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