Meridian Diagnostics Inc. (Cincinnati) today announced net sales of $14,654,000 for the second quarter of fiscal 1999 ended March 31 an increase of 54%. Net earnings, excluding the after-tax impact of merger integration costs of $425,000 ($0.03 per share) in connection with the recent acquisition of Gull Laboratories, were 1,681,000 or $0.12 per share. Reported net earnings, including the merger integration charges, were $1,256,000, or $0.09 per share.
Earnings before interest expense, taxes, depreciation, and amortization (EBITDA) were $3,881,000 for the quarter ended March 31, an increase of 11%.
For the six months ended March 31, net sales were $26,373,000, an increase of 47%. Excluding the after tax impact of merger integration costs of $748,000 ($0.05 per share) net earnings were $2,552,000, or $0.18 per share. Reported net earnings, including such merger integration charges were $1,804,000, or $0.12 per share. EBITDA for the six months ended March 31 was $6,467,000, an increase of 7%.
All share amounts are diluted earnings per share. Gull was acquired on November 5, 1998 and is not included in the fiscal 1998 comparable operating results.