Thursday, Meridian Bioscience, Inc. (VIVO) reported an increase in first-quarter profit from the year ago on higher revenue with increased demand for foodborne tests and upper respiratory tests, including tests for influenza.
First-quarter profit increased 10% to $8.92 million from $8.07 million in the year-ago period. Earnings per share rose to $0.22 from $0.20. On average, seven analysts polled by Thomson Reuters expected earnings of $0.22 for the quarter. Analysts' estimates typically exclude one-time items. Net sales increased 24% to $42.45 million from $34.29 million in the prior-year quarter; higher than analysts' revenue expectations of $38.99 million for the first-quarter.
Segment-wise, sales from its U.S. Diagnostics unit increased to $30.70 million from $23.48 million, while sales from European Diagnostics unit rose to $6.29 million from $5.67 million a year earlier. Sales from its Life Science unit increased to $5.45 million from $5.13 million in the year-ago quarter.
The company attributed the increase in net sales to high organic growth, increased demand for foodborne tests and upper respiratory tests and positive currency effects at Meridian BioscienceEurope.
John Kraeutler, Chief Executive Officer said, "C.difficile sales were weaker due to increased competition from new immunoassays as well as emerging molecular methods, plus distributor buying patterns. We are expecting flat sales in this product line until the launch of our new illumigene molecular-based technology platform later this fiscal year."
Cost of goods sold increased to $16.97 million from $10.94 million last year. Total operating expenses, rose to $11.72 million from $11.18 million in the year-ago period. Research and development expenses increased slightly to $2.07 million from $2.06 million, sales and marketing expenses declined to $4.88 million from $4.96 million, while general and administrative expenses rose to $4.76 million from $4.15 million in the prior-year quarter.
Gross profit increased to $25.48 million from $23.34 million in the year-earlier quarter. Overall, the company said that its first-quarter gross profit margin of 60% was lower than planned due to the H1N1 pandemic driving a higher sales volume of lower margin, OEM influenza and RSV or Respiratory Syncytial Virus tests. The company's board has declared a quarterly cash dividend of $0.19 per share, payable to shareholders on record from February 1, 2010 as of February 11, 2010.
Looking ahead, Meridian Bioscience reaffirmed its earlier guidance and said that it expects full-year earnings per share between $0.90 and $0.95 on net sales in the range of $160 million to $165 million. Analysts expect earnings of $0.93 per share on revenues of $163.37 million.
VIVO is currently trading at $21.50, down $0.14 or 0.65%, on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.