Meridian Bioscience, Inc. (VIVO) has reported a 2.43 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $9.31 million, or $0.22 a share in the quarter, compared with $9.09 million, or $0.21 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $9.31 million, or $0.22 a share compared with $10.09 million or $0.24 a share, a year ago. Revenue during the quarter grew 5.59 percent to $54.12 million from $51.26 million in the previous year period. Gross margin for the quarter contracted 354 basis points over the previous year period to 61.95 percent. Total expenses were 73.79 percent of quarterly revenues, up from 70.43 percent for the same period last year. That has resulted in a contraction of 336 basis points in operating margin to 26.21 percent.
Operating income for the quarter was $14.19 million, compared with $15.16 million in the previous year period.
Meridian Bioscience, Inc. expects revenue to be in the range of $193 million to $199 million for financial year 2017. For financial year 2017, the company projects diluted earnings per share to be in the range of $0.64 to $0.69 on adjusted basis.
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