Meridian Bioscience Inc. (NASDAQ:VIVO) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.77%.
Meridian Bioscience Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.35% to $0.24 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Decreased 0.3% to $47.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Meridian Bioscience Inc. reported adjusted EPS income of $0.24 per share. By that measure, the company met the mean analyst estimate of $0.24. It missed the average revenue estimate of $49.66 million.
Quoting Management: John A. Kraeutler, Chief Executive Officer, said, “Flat sales growth, largely due to European weakness, was offset by second quarter earnings increasing by 6% as a result of excellent operating efficiency. USDx sales increased by 7%, driven primarily by increases in C. difficile and foodborne test revenues. Due largely to continued weakness in European healthcare spending, our EURDx business unit reported sales down 12%. Meridian Life Science, which faced a record sales comparison in the year-ago period, reported revenues that were down by 8%. With respect to key diagnostic product categories, quarterly C. difficile revenues increased 8% for USDx, but declined by 16% for EURDx. H. pylori sales increased by 1% for USDx for the quarter, 7% for the first half of fiscal 2013; however, this category declined by 17% for the EURDx unit during the quarter. Foodborne test revenues grew 6% overall, 6% for USDx and 16% for EURDx.”
Key Stats (on next page)…