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Meridian Bioscience Reports Record Second Quarter And First Six Months Operating Results, Declares Regular Cash Dividend, And Reaffirms Fiscal 2012 Guidance

1. These measures help investors to more meaningfully evaluate and compare the results of operations from period to period by removing the impact of non-routine costs related to consolidating the Maine operations and reorganizing our Sales and Marketing Leadership; and

2. These measures are used by our management for various purposes, including evaluating performance against incentive bonus achievement targets, comparing performance from period to period in presentations to our board of directors, and as a basis for strategic planning and forecasting.

We have provided reconciliations of net earnings, basic earnings per share and diluted earnings per share, with and without the effects of the plant consolidation and leadership reorganization costs noted above, in the tables below for the three and six month periods ended March 31, 2012 and 2011.

SECOND QUARTER AND SIX MONTH YEAR TO DATEGAAP TO NON-GAAP RECONCILIATION TABLES(In Thousands, Except per Share Data)
            Three Months     Six Months
Ended March 31, Ended March 31,
2012   2011 2012   2011
Net Earnings -
U.S. GAAP basis $ 9,626 $ 7,260 $ 16,204 $ 13,285
Facility Consolidation costs 132 - 421 -
Sales & Marketing Leadership Reorganization   -   872   -   872
Adjusted Earnings $ 9,758 $ 8,132 $ 16,625 $ 14,157
 
Net Earnings per Basic Common Share -
U.S. GAAP basis $ 0.23 $ 0.18 $ 0.39 $ 0.33
Facility Consolidation costs - - 0.01 -
Sales & Marketing Leadership Reorganization   -   0.02   -   0.02
Adjusted Basic EPS $ 0.24 * $ 0.20 $ 0.40 $ 0.35
*Does not sum to total due to rounding.
Net Earnings per Diluted Common Share -
U.S. GAAP basis $ 0.23 $ 0.18 $ 0.39 $ 0.32
Facility Consolidation costs - - 0.01 -
Sales & Marketing Leadership Reorganization   -   0.02   -   0.02
Adjusted Diluted EPS $ 0.23 $ 0.20 $ 0.40 $ 0.34
 

FORWARD LOOKING STATEMENTS

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