Meridian Bioscience (NASDAQ: VIVO) reported Q4 EPS of $0.13, $0.04 better than the analyst estimate of $0.09. Revenue for the quarter came in at $50.8 million versus the consensus estimate of $50.59 million.

Fourth Quarter 2019 Highlights (Comparison to Fourth Quarter Fiscal 2018):

• Consolidated revenue decreased 4% to $50.8 million (3% decrease in constant-currency)
• Diagnostics segment revenues decreased 9% to $33.4 million (also a 9% decrease in constant-currency); note that while Diagnostics segment revenues were down compared to the fourth quarter of fiscal 2018, such revenues were relatively flat with our fiscal 2019 third quarter
• Life Science segment achieved a record quarter, with revenues increasing 7% to $17.4 million (9% growth in constant-currency)
• Reported GAAP Operating Margin of 11.5% and Adjusted Operating Margin of 14.9% for the quarter, which includes a full three months of activities in the Diagnostics segment from the acquisition of the GenePOC business
• Reported GAAP EPS of $0.10 per diluted share and Adjusted EPS of $0.13 per diluted share
• Adjusted Operating Margin and Adjusted EPS on a diluted basis excludes costs associated with acquisition-related activities, restructuring activities and selected legal matters (see non-GAAP financial measure reconciliation below)

Jack Kenny, Chief Executive Officer, commented, “We are very pleased with our fourth quarter results, which showed significant progress on our strategic direction for both our Diagnostics and Life Science businesses. For the Diagnostics segment, our overall revenue level stabilized commensurate with our third quarter. Conversion of customers from our alethia™ molecular system to the revogene™ system during the first 120 days exceeded our expectations. Instrument placements were approximately 60 during this time period. The revogene™ platform is helping address competitive pressures and has slowed our account losses. Our new product development efforts on our Diagnostic instrument platforms (revogene™, Curian™ and PediaStat™) continue to make progress, and we submitted our first Curian™ assay, a stool-antigen test for H. pylori, to the FDA in September. For the Life Science segment, IVD customer orders for immunological reagents were strong as this segment delivered its best revenue-growth quarter for the year. During the quarter we also made refinements to our organizational structure in both business units in order to improve customer focus and cost efficiencies in fiscal 2020.”

For earnings history and earnings-related data on Meridian Bioscience (VIVO) click here.