Plus   Neg

Meridian Bioscience Cuts FY19 Outlook, Suspends Dividend - Quick Facts

While reporting financial results for the second quarter, Meridian Bioscience, Inc. (VIVO) on Tuesday updated its earnings guidance for the full-year 2019, based on the pending acquisition of the business of GenePOC Inc.

For fiscal 2019, the company now expects the transaction to be dilutive to its previous full year adjusted earnings guidance range of $0.60 to $0.65 per share by about $0.10 to $0.12 per share, based on current purchase accounting estimates.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.66 per share for the year. Analysts' estimates typically exclude special items.

Further, the Board of Directors also suspended the company's quarterly cash dividend in connection with the announcement of its agreement to acquire the business of GenePOC Inc. and decision to allocate capital to related and other growth initiatives.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The University of Phoenix has agreed to pay a record $191 million to settle Federal Trade Commission charges alleging that the university used deceptive advertisements. According to the FTC, the university used deceptive advertisements that falsely touted their relationships and job opportunities... General Motors introduced new versions of its Chevrolet Tahoe and Suburban full-size SUVs that are bigger than previous models, offer more interior space and feature more advanced technology. The new vehicles join the new Silverado and Silverado HD as part of a complete redesign of Chevrolet's full-size truck and SUV lineup within 24 months. They will go on sale in mid-2020 in North America. Apple unveiled a new feature for the Apple Card, enabling cardholders to buy a new iPhone in 24 monthly installments without paying interest. In October, during Apple's earnings call, CEO Tim Cook had announced the tech giant's plans to introduce this feature. The Apple Card, Apple's first credit card, was introduced by the tech giant in March in partnership with Goldman Sachs and Mastercard.
Follow RTT