As it rounds out a “very difficult” fiscal 2010, diagnostic test maker Meridian Bioscience Inc. (NASDAQ: VIVO) sees better things in 2011.
The Cincinnati, Ohio, company released earnings guidance for the fiscal year that will end Sept. 30, 2011. Meridian expects earnings between 77 cents and 82 cents per diluted share, and sales between $165 million and $170 million, according to a statement.
Investors liked the sound of those numbers and pushed the company’s stock up about 2.6 percent to $18.65 in early Monday trading.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
As for fiscal 2010, Meridian reiterated its earlier guidance. The company expects sales at the low end of a $145 million to $153 million range, and diluted per-share earnings at the low end of a range between 70 and 80 cents.
“In fiscal 2011, we expect to rebound from a very difficult fiscal 2010, a year in which we experienced a non-existent influenza season, competitive pressure in our C. difficile franchise and a challenging economy,” said John Kraeutler, Meridian’s CEO.
Kraeutler expects 2011 sales to be driven by his company’s diagnostic test kits that detect bugs like C. difficile and H. pylori, as well its first molecular test, called illumigene C. difficile. The molecular test was approved for U.S. sales by the Food and Drug Administration in July.
