Meridian Bioscience Cuts FY19 Outlook, Suspends Dividend - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Meridian Bioscience, Inc. (VIVO) on Tuesday updated its earnings guidance for the full-year 2019, based on the pending acquisition of the business of GenePOC Inc.

For fiscal 2019, the company now expects the transaction to be dilutive to its previous full year adjusted earnings guidance range of $0.60 to $0.65 per share by about $0.10 to $0.12 per share, based on current purchase accounting estimates.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.66 per share for the year. Analysts' estimates typically exclude special items.

Further, the Board of Directors also suspended the company's quarterly cash dividend in connection with the announcement of its agreement to acquire the business of GenePOC Inc. and decision to allocate capital to related and other growth initiatives.