Meridian Bioscience Reaffirms FY17 Guidance; Q4 Profit Matches Estimates

(RTTNews) - Meridian Bioscience, Inc. (VIVO) reaffirmed its fiscal 2017 guidance of per share earnings between $0.81 and $0.85 on net revenues of $205 million to $210 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.82 on revenue of $206.12 million. Analysts' estimates typically exclude special items.

The company reported fourth-quarter non-GAAP earnings of $5.9 million, or $0.14 per share, a decrease of 30% compared to the fiscal 2015 fourth quarter. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.14 for the quarter.

The company reported fourth-quarter net revenues of $47.0 million, flat from last year. Analysts expected revenue of $47.7 million, for the quarter.

The Board of Meridian declared the regular quarterly cash dividend of $0.20 per share for the fourth quarter ended September 30, 2016. The dividend is of record November 21, 2016 and payable December 1, 2016. The Board has approved the indicated regular quarterly cash dividend rate of $0.20 per share for fiscal 2017, an annual indicated dividend rate of $0.80 per share, the same as the rate in fiscal 2016.