“Our illumigene ® simplified molecular platform represented 16% of revenues, and our overall C. difficile category grew by 13%. With regard to new products, illumigene Group B strep contributed sales of $700,000. This product is becoming more widely adopted as laboratories and clinicians recognize that birth complications can be reduced due to its very high accuracy. We now have nearly 975 illumigene customers, with more now using two or three illumigene tests. In addition, we closed agreements with several large hospital groups that are expected to contribute importantly to illumigene revenues in the remainder of the year. Foodborne test sales improved 15% in the period and our H. pylori diagnostics grew by 10%. With the early start to the influenza season, not surprisingly, the respiratory category increased 42%, with flu accounting for $1 million of incremental revenues.“Operating metrics were strong as we leveraged top line revenue growth with efficient manufacturing and prudent spending. Gross profit improved from 61.2% to 63.5%, which enabled an operating income rate of 29% and net income of 19%. Beginning in the second quarter of fiscal 2013, the 2.3% Medical Device tax will impact U.S. Diagnostics results. We believe that with continued revenue growth and operating efficiencies we can minimize the negative effects of this new tax.
Meridian Bioscience Reports First Quarter 2013 Operating Results And Reaffirms Fiscal 2013 Guidance
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