Meridian Bioscience, Inc. (NASDAQ: VIVO):
Meridian Bioscience, Inc., Cincinnati, Ohio (NASDAQ: VIVO) today:
- reported first quarter net sales of $40.3 million, an increase of 8% from the same period of the prior fiscal year;
- reported first quarter operating income of $9.8 million, an increase of 8% over the same period of the prior fiscal year;
- reported first quarter net earnings of $6.6 million, or $0.16 per diluted share, increases of 9% and 7%, respectively, compared to the same period of the prior fiscal year. On a non-GAAP basis, earnings were $6.9 million, or $0.17 per diluted share, excluding the effect of costs associated with the consolidation of its Saco, Maine operations into its Tennessee facility (see non-GAAP financial measure reconciliations);
- declared the regular quarterly cash dividend of $0.19 per share for the first quarter of fiscal 2012, (indicated annual rate of $0.76 per share), the same as the regular quarterly rate of fiscal 2011; and
- reaffirmed its fiscal 2012 guidance of per share diluted earnings between $0.85 and $0.89 (excluding plant consolidation costs of $0.01-$0.02) on net sales of $183 million to $192 million.
FINANCIAL HIGHLIGHTS (UNAUDITED)In Thousands, Except per Share Data
|Three Months Ended December 31,|
|Diluted Earnings per Share||$||0.16||$||0.15||7||%|
|Diluted Earnings per Share excluding||$||0.17||$||0.15||13||%|
|effect of plant consolidation costs*|
|*See non-GAAP financial measure reconciliations|
|Dec. 31||Dec. 31|
|Cash and short-term investments||$||26,205||$||41,479|
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