William J. Motto, Executive Chairman of the Board, said, “Revenue growth and strong operating profits were the hallmarks of Meridian's second quarter. We believe this bodes well for the balance of fiscal 2012 and beyond. We are comfortable with our cash dividend rate and the sales and earnings guidance. The favorable operating leverage during the second quarter is due to careful attention to cost controls and established efficiency programs. Our illumigene molecular testing platform continues to gain acceptance in the market and we look forward to introducing new products utilizing this proprietary technology. Our most recent acquisition, Bioline, continues to deliver outstanding performance. We regularly screen other acquisition opportunities that could potentially contribute to the growth of our business. Our balance sheet is solid and unlevered, and cash flow from operations comfortably funds capital expenditures, working capital requirements, and cash dividend needs.”CASH DIVIDEND MATTERS
Meridian Bioscience Reports Record Second Quarter And First Six Months Operating Results, Declares Regular Cash Dividend, And Reaffirms Fiscal 2012 Guidance
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