This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Meridian Bioscience Reports Third Quarter And Nine Months Operating Results, Declares Regular Cash Dividend, And Revises Fiscal 2011 Guidance

Meridian Bioscience, Inc. (NASDAQ: VIVO)

GENERAL HIGHLIGHTS

Meridian Bioscience, Inc., Cincinnati, Ohio (NASDAQ: VIVO) today:

  • reported fiscal 2011 third quarter and nine months net sales of $40.1 million and $118.4 million, respectively, increases of 18% and 10%, respectively, from the same periods of the prior fiscal year;
  • reported third quarter operating income of $10.1 million, an increase of 4% compared to the prior year third quarter;
  • reported nine months operating income of $30.2 million, a decrease of 8% compared to the same period of the prior fiscal year;
  • reported third quarter net earnings of $6.8 million, or $0.17 per diluted share, increases of 6% compared to the fiscal 2010 third quarter;
  • reported nine months net earnings of $20.1 million, or $0.49 per diluted share, decreases of 6% compared to the corresponding fiscal 2010 period. On a non-GAAP basis, earnings were $21.0 million, or $0.51 per diluted share, excluding the effect of costs associated with the reorganization of European and Global Sales and Marketing Leadership during the quarter ended March 31, 2011 (see non-GAAP financial measure reconciliation);
  • declared the regular quarterly cash dividend of $0.19 per share for the third quarter of fiscal 2011, (indicated annual rate of $0.76 per share), the same as the regular quarterly rate of fiscal 2010; and
  • revised downward its fiscal 2011 guidance of per share diluted earnings to between $0.68 and $0.71 (including reorganization costs) on net sales of $160 million to $163 million.
                 

FINANCIAL HIGHLIGHTS (UNAUDITED)

In Thousands, Except per Share Data

 
 

 

 

Three Months Ended June 30,

Nine Months Ended June 30,

2011       2010      

%Change

2011       2010      

%Change

Net Sales $ 40,052 $ 33,857 18 % $ 118,374 $ 107,461 10 %
Operating Income 10,131 9,776 4 % 30,183 32,657 -8 %
Net Earnings 6,836 6,424 6 % 20,121 21,325 -6 %
Diluted Earnings per Share $ 0.17 $ 0.16 6 % $ 0.49 $ 0.52 -6 %
Diluted Earnings per Share
excluding effect of European and
Global Sales & Marketing
Leadership reorganization costs
(see non-GAAP financial measure
reconciliation) $ 0.17 $ 0.16 6 % $ 0.51 $ 0.52 -2 %
 
June 30, June 30,
2011 2010
Cash and Short-Term Investments $ 25,563 $ 58,219
Working Capital 75,340 98,239
Shareholders’ Equity 138,120 137,394
Total Assets 157,951 149,298
 

THIRD QUARTER OPERATING RESULTS

Net sales for the third quarter of fiscal 2011 were $40,052,000, compared to $33,857,000 for the same period of the prior fiscal year, an increase of 18%. Net earnings for the third quarter of fiscal 2011 were $6,836,000, or $0.17 per diluted share, increases of 6% compared to the third quarter of fiscal 2010. Diluted common shares outstanding for the third quarter of fiscal 2011 and 2010 were 41,394,000 and 41,151,000, respectively.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,127.29 +47.15 0.26%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs