The 10-second takeaway
For the quarter ended June 30 (Q3), Meridian Bioscience met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. GAAP earnings per share increased.
Gross margins contracted, operating margins expanded, net margins expanded.
Meridian Bioscience recorded revenue of $47.1 million. The nine analysts polled by S&P Capital IQ wanted to see net sales of $47.0 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $42.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.24. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.22 per share. GAAP EPS of $0.24 for Q3 were 14% higher than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 65.0%, 60 basis points worse than the prior-year quarter. Operating margin was 33.3%, 250 basis points better than the prior-year quarter. Net margin was 21.6%, 120 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $48.8 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $188.9 million. The average EPS estimate is $0.89.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 455 members out of 465 rating the stock outperform, and 10 members rating it underperform. Among 112 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 110 give Meridian Bioscience a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Meridian Bioscience is hold, with an average price target of $21.22.
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