Meridian Bioscience, Inc. (NASDAQ:VIVO) Q4 2019 Earnings Conference Call Transcript

Nov 07, 2019 • 10:00 am ET

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Meridian Bioscience, Inc. (NASDAQ:VIVO) Q4 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen thank you for standing by and welcome to the Meridian Bioscience Fiscal Fourth Quarter and Full-Year 2019 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today Bryan Baldasare CFO. Thank you. Please go ahead.

Executive
Bryan Baldasare

Good morning everyone and welcome to Meridian,s 2019 fourth quarter and year-end conference call. Our apologies for the slight delay we were trying to get riveting down as quickly as we could before we got started here. By now you should have access to a copy of the earnings press release that was published earlier this morning. If you have not received a copy please go to the Investors Relations section of our website to access a copy of the press release and this morning,s presentation. Before we begin today let me remind you that the Company's remarks include forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties many of which are beyond the Company's control including risks and uncertainties described from time to time in the Company's SEC filings. The Company's results may differ materially from those projected. The company undertakes no obligation to publicly update any forward-looking statements. Additionally throughout this presentation we refer to non-GAAP financial measures specifically operating expenses operating income operating margin net earnings and earnings per share each on an adjusted basis. A reconciliation of these non-GAAP financial measures with the most directly comparable GAAP measures is included in our press release which is available on our website.

Let me turn this over to Jack.

Executive
Jack Kenny

Thanks Bryan, Before we get to the financial results, I'd like to take a minute to highlight a few of meridians major accomplishment for this past year. Let's start with diagnostics. In two four, we took significant steps forward in our execution of our diagnostic strategy, or commercial team under new leadership is executing well, and it's made great progress in the turnaround of our diagnostics business. In Q4 the Diagnostic business stabilized which is a key first step to returning back to growth. Our integration of the GenePOC business and revogene product line has gone better than anticipated. Our commercial team has executed well and customer acceptance of the product has exceeded our expectations. We have placed approximately 60 revogene systems in Q4 and many of the customers have already implemented and are live within 30 days of receiving the system. Another key element of our Diagnostic strategy was the redesign of our new product development process. We started this in late fiscal 2018 and had been making significant progress to building a strong pipeline of products. One key success for the quarter was the completion of our clinical trials and the FDA submission for our Curian instrument and the first assay using fluorescent chemistry for rapid immunoassays a stool-antigen test for H. pylori.Let's turn our attention to the Life Science