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Meridian Bioscience Posts Higher Fiscal Q1 Results, Raises FY2021 Outlook - Shares Climb Pre-Bell

· 02/05/2021 03:31

08:24 AM EST, 02/05/2021 (MT Newswires) -- Meridian Bioscience (VIVO) reported premarket Friday adjusted earnings of $0.65 per share in fiscal Q1, up from $0.10 per share in the previous year.

The consensus estimate from a Capital IQ survey of analysts was for adjusted EPS of $0.42.

Revenue also increased to $92.9 million from $47.4 million last year. Analysts were expecting revenue of $88.3 million.

Moving forward, Meridian said it anticipates FY2021 adjusted EPS of $1.70 to $1.90, compared with the Street estimate of $1.24 per share. It sees revenue of $320 million to $350 million, versus the consensus estimate of $307.9 million. The company previously projected full-year adjusted EPS of $1.14 to $1.28 on revenue of $290 million to $310 million.

Shares of Meridian are up more than 8% in premarket activity.

Price: 25.52, Change: +1.90, Percent Change: +8.04