This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Meridian Bioscience Provides Sales And Earnings Guidance For Fiscal 2012 And Comments On Fiscal 2011 Guidance

Stocks in this article: VIVO

Meridian Bioscience, Inc. (NASDAQ: VIVO) today provided the financial community with guidance regarding the Company’s fiscal 2012 sales and earnings estimates. Based on the Company’s business planning and budgeting activities for the fiscal year ending September 30, 2012, management expects net sales to be in the range of $183 to $192 million and per share diluted earnings to be between $0.85 and $0.89. The per share estimates assume an increase in average shares outstanding from approximately 41.3 million at fiscal 2011 year end to 41.5 million at fiscal 2012 year end. Net income is expected to increase between 20% and 30% from fiscal 2011 to fiscal 2012 excluding reorganization costs in 2011. The sales and earnings guidance provided in this press release is from expected internal growth and does not include the impact of any additional acquisitions the Company might complete during fiscal 2012.

On July 21 management revised guidance downward for fiscal year 2011 due primarily to continuing weakness in the Company’s core Life Science and European Diagnostics units. Management expects fiscal 2011 results will come in at the lower end of the current guidance range as we continue to support investments in illumigene ® and other new product development activities and as we work to restore growth in Europe and reduce operating costs in Life Science. We expect to drive revenue growth through our new illumigene platform with its multiple assays, along with our foodborne, H.pylori and Bioline products in 2012 and beyond.

John A. Kraeutler, Chief Executive Officer, stated, "Our ability to grow revenues in fiscal year 2012 is based upon our first year success and continued optimism from our new, simple molecular platform illumigene. Our 2012 guidance includes full year revenues coming from illumigene C. difficile and revenues projected for illumigene Group B Strep, which is currently awaiting FDA clearance to market, based on a U.S. launch in the first quarter. illumigene Mycoplasma pneumoniae is expected to be launched ex-U.S. in the second quarter with only nominal sales revenues reflected in our 2012 guidance. illumigene Group A Strep is scheduled to begin beta trials at the end of the first quarter and no revenues are included in our estimates at this time. Our fifth addition to the illumigene platform, projected for the second half of fiscal 2012, will be a test for Bordatella pertussis/parapertussis, the cause of Whooping Cough. The reemergence of this disease is of great concern and its incidence is increasing and, as with illumigene Group A Strep, our guidance does not include any revenues from this test.

"Additional organic growth in our Diagnostics business is expected to be driven by our H. pylori tests that are used in the diagnosis of peptic ulcers and continued success coming from our foodborne tests for toxigenic E. coli and Campylobacter.

"Further, as a result of our efforts to realign our European Diagnostics unit, we have projected single-digit revenue growth. To further support our efforts in restoring real growth, the European Diagnostics unit will have a new, rapid C. difficile screening test to complement illumigene and a new test for Legionella. Both of these first-time opportunities are ideal for that region’s needs.

"Organic revenue growth projections for Meridian Life Science are expected to be in the range of 5% to 6%, with our Bioline unit expected to sustain double-digit increases while the core Life Science unit anticipates a slight decline due to a slowing immunoassay demand profile.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs