Meridian Bioscience Q1 Profit Matches Estimates; Net Revenues Up 12%

(RTTNews) - Meridian Bioscience, Inc. (VIVO) reported, on a non-GAAP basis, first-quarter earnings of $6.5 million, or $0.15 per share, an increase of 4% and flat, respectively, from prior year. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.15 for the quarter. Analysts' estimates typically exclude special items.

The company reported first-quarter net revenues of $52.3 million, an increase of 12% from the same period of the prior fiscal year. Analysts expected revenue of $49 million for the quarter.

Excluding the impact of the tax reform act, for the fiscal year ending September 30, 2018, the company expects net revenues to be in the range of $207 million to $212 million and per share earnings to be between $0.59 and $0.62 on a GAAP basis. On a non-GAAP basis, fiscal 2018 earnings are expected to be between $0.65 and $0.68 per share.

The Board declared the regular quarterly cash dividend of $0.125 per share for the first quarter ended December 31, 2017. The dividend is payable on February 15, 2018 to shareholders of record as of the close of business on February 5, 2018.