Meridian Bioscience, Inc. (NASDAQ: VIVO), today provided preliminary net revenues results for its second quarter of fiscal 2022.
Preliminary unaudited net revenues for the second quarter of fiscal 2022 are expected to be between $109 million and $113 million, above Meridian’s expectations and a record for the Company. Individually, both of the Company’s segments are also expected to have record net revenues in the quarter with the Diagnostics segment net revenues expected to be between $40 million and $42 million and the Life Science segment net revenues expected to be between $69 million and $71 million.
Both the return of the LeadCare® product line to market earlier in the quarter than expected and positive demand for the SARS-CoV-2 rapid antigen test contributed to Diagnostics segment results. Strong demand for reagents associated with COVID-19 antigen testing during the recent Omicron wave of infections contributed to Life Science segment results.
The Company will provide full financial results and any changes to fiscal 2022 guidance during the second quarter earnings call scheduled for 10:00 a.m. Eastern Time on Friday, May 6. CEO Jack Kenny, and Chief Financial Officer Andy Kitzmiller, will host the conference call and answer questions.
VIVO shares closed Thursday at 7.5 cents.