Meridian Bioscience Q2 EPS Matches View, Revenues Miss; Reaffirms FY16 Forecast

(RTTNews) - Meridian Bioscience Inc. (VIVO) reported Thursday that its second-quarter net earnings fell 10 percent to $9.09 million from last year's $10.07 million. Earnings per share were $0.21, down 13 percent from $0.24 last year.

Excluding transaction costs, adjusted earnings were $10.09 million or $0.24 per share in the latest quarter.

On average, 7 analysts polled by Thomson Reuters expected earnings of $0.24 per share. Analysts' estimates typically exclude special items.

Net revenues edged down 1 percent to $51.26 million from $51.545 million in the same period last year. Analysts expected revenues of $52.09 million.

Further, the Board of Directors declared the regular quarterly cash dividend of $0.20 per share for the second quarter ended March 31, 2016. This annual indicated dividend rate of $0.80 per share remains the same as the rate in fiscal 2015.

Looking ahead, for the fiscal year ending September 30, 2016, the company continues to expect net revenues to be in the range of $195 million to $200 million and per share earnings to be between $0.86 and $0.90.

Analysts expect earnings of $0.89 per share on revenues of $211.33 million for the year.