EX-13 7 l04579aexv13.txt EXHIBIT 13 CORPORATE PROFILE Meridian is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technolo- gies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. All Meridian diagnostic products are used outside of the human body and require little or no special equipment. The Company's products are designed to enhance patient well-being while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections, serology, parasitology and fungal disease diagnosis. In addition, Meridian is a supplier of rare reagents and specialty biologicals along with proteins and other biologicals used by biopharmaceutical companies engaged in research for new drugs and vaccines. The Company markets its products to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices and diagnostics manufacturers in more than 60 countries around the world. The Company's shares are traded through Nasdaq's National Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com. FORWARD LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward looking statements accompanied by meaningful cautionary statements. Except for historical information, this report contains forward-looking statements which may be identified by words such as "estimates", "anticipates", "projects", "plans", "expects", "intends", "believes", "should", and similar expressions or the negative versions thereof and which also may be identified by their context. Such statements are based upon current expectations of the Company and speak only as of the date made. The company assumes no obligation to publicly update any forward looking statements. These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ, including, without limitation, the following. Meridian's continued growth depends, in part, on its ability to introduce into the marketplace enhancements of existing products or new products that incorporate technological advances, meet customer requirements and respond to products developed by Meridian's competition. While Meridian has introduced a number of internally-developed products, there can be no assurance that it will be successful in the future in introducing such products on a timely basis. Ongoing consolidations of reference laboratories and formation of multi-hospital alliances may cause adverse changes to pricing and distribution. Costs and difficulties in complying with laws and regulations administered by the United States Food and Drug Administration can result in unanticipated expenses and delays and interruptions to the sale of new and existing products. Changes in the relative strength or weakness of the U.S. dollar can change expected results. One of Meridian's main growth strategies is the acquisition of companies and product lines. There can be no assurance that additional acquisitions will be consummated or that, if consummated, will be successful and the acquired businesses successfully integrated into Meridian's operations.
----------------------------------------------------------------------------------------------------- SELECTED FINANCIAL DATA Meridian Bioscience, Inc. and Subsidiaries (Amounts in thousands, except for per share data) Income Statement Information ----------------------------------------------------------------------------------------------------- FY 2003 FY 2002 FY 2001 FY 2000 FY 1999 FY 1998 ----------------------------------------------------------------------------------------------------- Net sales $65,864 $59,104 $56,527 $57,096 $53,927 $33,169 Gross profit 38,288 34,598 26,706 35,446 34,369 22,519 Operating income (loss) 12,789 9,994 (12,507) 9,354 6,527 8,351 Net earnings (loss) 7,018 5,031 (10,275) 7,111 2,073 4,958 Basic earnings (loss) per share $ 0.48 $ 0.34 $ (0.70) $ 0.49 $ 0.14 $ 0.34 Diluted earnings (loss) per share $ 0.47 $ 0.34 $ (0.70) $ 0.49 $ 0.14 $ 0.34 Cash dividends declared per share $ 0.34 $ 0.28 $ 0.26 $ 0.23 $ 0.20 $ 0.22 Book value per share $ 1.87 $ 1.67 $ 1.57 $ 2.51 $ 2.33 $ 2.41
Balance Sheet Information ----------------------------------------------------------------------------------------------------- 30-Sep-03 30-Sep-02 30-Sep-01 30-Sep-00 30-Sep-99 30-Sep-98 ----------------------------------------------------------------------------------------------------- Current assets $33,161 $30,375 $32,502 $40,798 $31,744 $39,763 Current liabilities 15,330 15,249 16,368 16,619 13,602 3,869 Total assets 66,420 65,095 65,982 84,717 72,161 59,147 Long-term debt obligations 21,505 23,626 24,349 27,159 22,187 20,808 Shareholders' equity 27,484 24,381 22,944 36,611 33,591 34,683
CORPORATE DATA CORPORATE HEADQUARTERS 3471 River Hills Drive Cincinnati, Ohio 45244 (513) 271-3700 ------------------------------------- LEGAL COUNSEL Keating, Muething & Klekamp, P.L.L. Cincinnati, Ohio ------------------------------------- INDEPENDENT PUBLIC ACCOUNTANTS PricewaterhouseCoopers LLP Cincinnati, Ohio ------------------------------------- TRANSFER AGENT, REGISTRAR AND DIVIDEND REINVESTMENT ADMINISTRATION Shareholders requiring a change of name, address or ownership of stock, as well as information about shareholder records, lost or stolen certificates, dividend checks, dividend direct deposit, and dividend reinvestment should contact: Computershare Investor Services LLC, P.O. Box 2388, Chicago, IL 60690-2388; (888) 294-8217 or (312) 601-4332: e-mail web.queries@computershare.com; or submit your inquiries online through www.computershare.com/contactus. -------------------------------------------------------------------------------- Meridian Bioscience, Inc. and Subsidiaries ANNUAL MEETING The annual meeting of the shareholders will be held on Thursday, January 22, 2004 at 2:00 p.m. Eastern Time at the Holiday Inn Eastgate, 4501 Eastgate Boulevard, Cincinnati, OH 45245. Directions to the Holiday Inn Eastgate can be found on our website: www.meridianbioscience.com -------------------------------------------------------------------------------- COMMON STOCK INFORMATION NASDAQ National Market System Symbol: "VIVO." Approximate number of record holders: 1000 The following table sets forth by calendar quarter the high and low sales prices of the Common Stock on the NASDAQ National Market System. Years Ended September 30, 2003 2002 Quarter ended: HIGH LOW High Low -------------------------------------------------------------------------------- December 31 6.900 6.400 6.690 4.300 March 31 7.890 7.550 7.830 5.750 June 30 9.630 8.280 7.600 5.821 September 30 10.400 9.870 7.000 4.590 DIRECTORS AND OFFICERS DIRECTORS WILLIAM J. MOTTO Chairman of the Board and Chief Executive Officer JOHN A. KRAEUTLER President and Chief Operating Officer JAMES A. BUZARD, PH.D. Retired Executive Vice President, Merrell Dow Pharmaceuticals, Inc. GARY P. KREIDER Senior Partner, Keating, Muething & Klekamp, P.L.L. ROBERT J. READY Chairman of the Board and President, LSI Industries, Inc. DAVID C. PHILLIPS Retired Managing Partner, Arthur Andersen LLP OFFICERS WILLIAM J. MOTTO Chairman of the Board and Chief Executive Officer JOHN A. KRAEUTLER President and Chief Operating Officer RICHARD L. EBERLY Executive Vice President, General Manager, Meridian Life Science ANTONIO A. INTERNO President, Managing Director, Meridian Bioscience Europe KENNETH J. KOZAK Vice President, Research and Development MELISSA A. LUEKE Vice President, Chief Financial Officer SUSAN D. ROLIH Vice President, Regulatory Affairs and Quality Assurance LAWRENCE J. BALDINI Vice President, Operations