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MERIDIAN DIAGNOSTICS ANNOUNCES RECORD SECOND QUARTER AND SIX MONTH RESULTS

 MERIDIAN DIAGNOSTICS ANNOUNCES RECORD SECOND QUARTER
 AND SIX MONTH RESULTS
 CINCINNATI, May 4 /PRNewswire/ -- Meridian Diagnostics, Inc. (NASDAQ/NMS: KITS), today announced record net sales for the fiscal 1992 second quarter and six month periods ended March 31, 1992 of $3,468,000 and $6,438,000 respectively, compared to $2,730,000 and $4,985,000 for the same periods during the prior fiscal year. These results represent an increase of 27 percent for the second quarter and 29 percent for the six month period. Net earnings for the fiscal second quarter and six month periods were $352,000 ($.05 per share) and $638,000 ($.09 per share) compared to $189,000 ($.03 per share) and $326,000 ($.05 per share) earned during the comparable periods of the previous fiscal year, an increase of 86 percent for the second quarter and 96 percent for the six month period.
 Jerry L. Ruyan, president said, "Management is very pleased to see a continuation of strong sales and profits from our core business and the new product introductions that were made during fiscal 1991. During the last month of the second quarter we began to see initial sales of the new products acquired during the later portion of fiscal 1991."
 At the April 27, 1992 board of directors meetings, the board declared the regular quarterly cash dividend of $.0167 per share payable on May 15, 1992 to shareholders of record at the close of business on May 8, 1992.
 The following table sets forth the unaudited comparative operating results of Meridian Diagnostics, Inc. for the three and six months ended March 31, 1992 and 1991. 0
 Three Months Ended March 31
 1992 1991
 Net sales $3,468,000 $2,730,000
 Gross profit 2,300,000 1,626,000
 Operating income 550,000 284,000
 Earnings before income taxes 570,000 325,000
 Net earnings 352,000 189,000
 Earnings per common share $.05 $.03
 Weighted average number of
 shares outstanding 7,309,679 7,247,166
 Six Months Ended March 31
 1992 1991
 Net sales $6,438,000 $4,985,000
 Gross profit 4,225,000 3,026,000
 Operating income 983,000 445,000
 Earnings before income taxes 1,026,000 548,000
 Net earnings 638,000 326,000
 Earnings per common share $.09 $.05
 Weighted average number of
 shares outstanding 7,307,409 7,223,324
 All per share numbers are adjusted for the company's 3 for 2 stock split effective March 27, 1992.
 Meridian Diagnostics, Inc. develops, manufactures and markets a variety of immunodiagnostic test kits, purified reagents such as antigens and monoclonal and polyclonal antibodies, and related diagnostic products. The company is a leader in the area of rapid diagnosis of infectious human diseases. All Meridian products are used outside the human body and require little or no special instrumentation or equipment . Domestic and international market segments consist of hospital, commercial and reference laboratories and physicians' offices. The company has a leading market position in fungal serology and is the leader in parasite and bacterial collection, preservation and transportation systems.
 -0- 5/4/92
 /CONTACT: Jerry L. Ruyan of Meridian Diagnostics, Inc., 513-271-3700/
 (KITS) CO: Meridian Diagnostics, Inc. ST: Ohio IN: MTC SU: ERN


LC -- CL017 -- 5975 05/04/92 11:11 EDT
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Date:May 4, 1992
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