Swine flu fears pushed up demand for Meridian Bioscience Inc.’s (NSDQ:VIVO) rapid flu tests a year ago, but the absence of those concerns contributed to a 32 percent decline in the diagnostic test maker’s first-quarter earnings for fiscal 2011.
It marked the fourth consecutive quarter of declining year-over-year earnings for the West Chester, Ohio, company. The company reported net earnings of $6 million or 16 cents per diluted share.
That fell below analysts’ expectations of 19 cents per diluted share.