Meridian Bioscience Affirms 2008 Outlook
Wednesday November 14, 2:49 pm ET
Meridian Bioscience Reiterates 2008 Earnings, Revenue Guidance, Citing Diagnostics Units
CINCINNATI (AP) -- Meridian Bioscience Inc., which makes diagnostic test kits, Wednesday reaffirmed its fiscal 2008 earnings and revenue guidance, citing growth in its diagnostics business.
The company expects earnings for fiscal 2008, which ends in September 2008, in the range of 72 cents per share and 75 cents per share.
Meridian forecasts revenue to be between $140 million and $142 million.
Analysts surveyed by Thomson Financial, on average, estimate 2008 earnings of 73 cents per share on revenue of $141.8 million.
"Entering fiscal 2008, we believe the growth drivers within the diagnostics business units continue to be robust. We are delighted with the early success of ImmunoCard STAT! EHEC, a test to rapidly diagnose people infected with the toxin-producing forms of E. coli bacteria," said President and Chief Operating Officer John A. Kraeutler, in a statement.
The company also said it will launch several diagnostic tests during the first quarter, as the life science business is poised to roll out new biologics products during the next 60 to 90 days.
In a note to investors, Soleil Securities Group analyst Elliott L. Schlang maintained his estimates on the company and kept his stock rating at "Hold."
Shares of Meridian Bioscience fell 60 cents to $30.25 in afternoon trading. |
