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Meridian Bioscience Reports Third Quarter And Nine Months Operating Results, Declares Regular Cash Dividend, And Revises Fiscal 2012 Guidance

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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 nine month periods ended June 30, 2012.

       
THIRD QUARTER AND NINE MONTH YEAR TO DATE

GAAP TO NON-GAAP RECONCILIATION TABLES

(In Thousands, Except per Share Data)
 
Three Months Nine Months
Ended June 30, Ended June 30,
2012   2011 2012   2011
Net Earnings -
U.S. GAAP basis $ 8,594 $ 6,836 $ 24,798 $ 20,121
Facility Consolidation costs 238 - 659 -
Sales & Marketing Leadership Reorganization   -   -   -   872
Adjusted Earnings $ 8,832 $ 6,836 $ 25,457 $ 20,993
 
Net Earnings per Basic Common Share -
U.S. GAAP basis $ 0.21 $ 0.17 $ 0.60 $ 0.49
Facility Consolidation costs 0.01 - 0.02 -
Sales & Marketing Leadership Reorganization   -   -   -   0.02
Adjusted Basic EPS $ 0.21* $ 0.17 $ 0.62 $ 0.52*
 
Net Earnings per Diluted Common Share -
U.S. GAAP basis $ 0.21 $ 0.17 $ 0.60 $ 0.49
Facility Consolidation costs 0.01 - 0.02 -
Sales & Marketing Leadership Reorganization   -   -   -   0.02
Adjusted Diluted EPS $ 0.21* $ 0.17 $ 0.61 * $ 0.51
 
*Does not sum to total due to rounding.
 

FORWARD LOOKING STATEMENTS

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