Date of Report (Date of earliest event reported):
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July 23, 2015
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MERIDIAN BIOSCIENCE, INC.
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(Exact name of registrant as specified in its charter)
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Ohio
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0-14902
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31-0888197
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||
(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No. )
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3471 River Hills Drive, Cincinnati, Ohio
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45244
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number, including area code
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(513) 271-3700
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(Former name or former address, if changed since last report.)
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Date: July 27, 2015
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MERIDIAN BIOSCIENCE, INC.
By: /s/ Melissa A. Lueke
Melissa A. Lueke
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
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·
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reported fiscal 2015 third quarter and first nine months net revenues of $48.2 million and $147.8 million, respectively, increases of 2% and 4%, respectively, from the same periods of the prior fiscal year;
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·
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reported third quarter operating income of $14.4 million, an increase of 10% from the same period of the prior fiscal year;
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·
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reported nine months operating income of $42.8 million, an increase of 6% from the same period of the prior fiscal year;
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·
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reported third quarter net earnings of $9.1 million, or $0.22 per diluted share, increases of 3% and 5%, respectively, compared to the fiscal 2014 third quarter;
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·
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reported first nine months net earnings of $27.1 million, or $0.64 per diluted share, an increase of 2% compared to the same period of fiscal 2014;
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·
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declared the regular quarterly cash dividend of $0.20 per share for the third quarter of fiscal 2015, (annual indicated rate of $0.80 per share), the same as the regular quarterly rate for fiscal 2014; and
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·
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reaffirmed its fiscal 2015 guidance of per share diluted earnings between $0.85 and $0.91 on net revenues of $193 million to $200 million.
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Three Months Ended
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Nine Months Ended
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|||||||||||||||||||||||
June 30,
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June 30,
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|||||||||||||||||||||||
2015
|
2014
|
% Change
|
2015
|
2014
|
% Change
|
|||||||||||||||||||
Net Revenues
|
$
|
48,204
|
$
|
47,212
|
2
|
%
|
$
|
147,762
|
$
|
142,140
|
4
|
%
|
||||||||||||
Operating Income
|
14,398
|
13,132
|
10
|
%
|
42,799
|
40,424
|
6
|
%
|
||||||||||||||||
Net Earnings
|
9,102
|
8,835
|
3
|
%
|
27,073
|
26,561
|
2
|
%
|
||||||||||||||||
Diluted Earnings per Share
|
$
|
0.22
|
$
|
0.21
|
5
|
%
|
$
|
0.64
|
$
|
0.63
|
2
|
%
|
||||||||||||
June 30,
|
||||||||||||||||||||||||
2015
|
2014
|
|||||||||||||||||||||||
Cash and Equivalents
|
$
|
45,975
|
$
|
39,285
|
||||||||||||||||||||
Working Capital
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104,687
|
98,809
|
||||||||||||||||||||||
Shareholders' Equity
|
163,931
|
161,820
|
||||||||||||||||||||||
Total Assets
|
179,316
|
178,763
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
Net revenues
|
$
|
48,204
|
$
|
47,212
|
$
|
147,762
|
$
|
142,140
|
||||||||
Cost of sales
|
17,873
|
17,970
|
55,673
|
53,298
|
||||||||||||
Gross profit
|
30,331
|
29,242
|
92,089
|
88,842
|
||||||||||||
Operating expenses
|
||||||||||||||||
Research and development
|
3,214
|
3,146
|
9,685
|
9,185
|
||||||||||||
Selling and marketing
|
6,184
|
6,249
|
18,745
|
18,787
|
||||||||||||
General and administrative
|
6,535
|
6,715
|
20,860
|
20,446
|
||||||||||||
Total operating expenses
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15,933
|
16,110
|
49,290
|
48,418
|
||||||||||||
Operating income
|
14,398
|
13,132
|
42,799
|
40,424
|
||||||||||||
Other income (expense), net
|
(93
|
)
|
(252
|
)
|
(874
|
)
|
(490
|
)
|
||||||||
Earnings before income taxes
|
14,305
|
12,880
|
41,925
|
39,934
|
||||||||||||
Income tax provision
|
5,203
|
4,045
|
14,852
|
13,373
|
||||||||||||
Net earnings
|
$
|
9,102
|
$
|
8,835
|
$
|
27,073
|
$
|
26,561
|
||||||||
Net earnings per basic common share
|
$
|
0.22
|
$
|
0.21
|
$
|
0.65
|
$
|
0.64
|
||||||||
Basic common shares outstanding
|
41,714
|
41,478
|
41,647
|
41,445
|
||||||||||||
Net earnings per diluted common share
|
$
|
0.22
|
$
|
0.21
|
$
|
0.64
|
$
|
0.63
|
||||||||
Diluted common shares outstanding
|
42,093
|
42,096
|
41,999
|
42,114
|
Three Months Ended
|
Nine Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||||
Net revenues
|
||||||||||||||||
Diagnostics
|
$
|
36,049
|
$
|
35,168
|
$
|
111,297
|
$
|
107,066
|
||||||||
Life Science
|
12,155
|
12,044
|
36,465
|
35,074
|
||||||||||||
$
|
48,204
|
$
|
47,212
|
$
|
147,762
|
$
|
142,140
|
|||||||||
Operating Income
|
||||||||||||||||
Diagnostics
|
$
|
11,203
|
$
|
10,526
|
$
|
33,081
|
$
|
32,211
|
||||||||
Life Science
|
3,240
|
2,676
|
9,814
|
8,243
|
||||||||||||
Eliminations
|
(45
|
)
|
(70
|
)
|
(96
|
)
|
(30
|
)
|
||||||||
$
|
14,398
|
$
|
13,132
|
$
|
42,799
|
$
|
40,424
|
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