Meridian Bioscience, Inc. Provides Sales and Earnings Guidance for Fiscal 2013 and Reaffirms Fiscal 2012 Guidance
CINCINNATI--(BUSINESS WIRE)--Meridian Bioscience, Inc. (NASDAQ: VIVO) today provided the financial community with guidance regarding the Company’s fiscal 2013 sales and earnings estimates. Based on the Company’s business planning and budgeting activities for the fiscal year ending September 30, 2013, management expects net sales to be in the range of $190 to $195 million and per share diluted earnings to be between $0.86 and $0.91. The per share estimates assume an increase in average shares outstanding from approximately 41.6 million at fiscal 2012 year end to 41.8 million at fiscal 2013 year end. Net earnings are expected to increase between 8% and 14% from fiscal 2012 to fiscal 2013 excluding reorganization costs in 2012. This includes the $0.03 charge to earnings for the Medical Device Tax effective January 1, 2013 and the $0.03 charge to earnings representing the incremental cost of clinical trials for an important new illumigene® product over and above the cost of clinical trials for past illumigene products. The sales and earnings guidance provided in this press release is from expected internal growth and does not include the impact of any additional acquisitions the Company might complete during fiscal 2013.