Meridian Bioscience Sees Q1 Results Below Consensus; Reaffirms FY14 Outlook

(RTTNews) - Meridian Bioscience, Inc. (VIVO) said Wednesday that it expects net sales of about $44.8 million and earnings of $0.17 to $0.18 per share for the first quarter of its fiscal year 2014.

Analysts polled by Thomson Reuters currently expect the company to earn $0.22 per share on revenue of $48.89 million for the first quarter.

Based on second quarter to-date diagnostics order volume and sales, as well as expected higher than initially planned revenues from influenza, and Life Science shipments to-date, the company expects the second quarter sales and earnings to be above its previous internal expectations.

Meridian Bioscience reaffirmed its initial guidance of net sales of $203 million to $208 million and earnings of $0.98 to $1.03 per share for the fiscal year 2014.

Analysts currently expect the company to earn $1.00 per share on revenue of $204.43 million for the fiscal year 2014.