QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
☒ | Accelerated filer | ☐ | ||||
Non-accelerated filer |
☐ | Smaller reporting company | ||||
Emerging growth company |
Class |
Outstanding July 31, 2021 | |
Common Stock, no par value | |
Page(s) |
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PART I. |
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Item 1. |
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Condensed Consolidated Statements of Operations Three and Nine Months Ended June 30, 2021 and 2020 |
1 | |||||
Condensed Consolidated Statements of Comprehensive Income Three and Nine Months Ended June 30, 2021 and 2020 |
2 | |||||
Condensed Consolidated Statements of Cash Flows Nine Months Ended June 30, 2021 and 2020 |
3 | |||||
4-5 |
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6 | ||||||
7-20 |
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Item 2. |
21-29 |
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Item 3. |
30 | |||||
Item 4. |
30 | |||||
PART II. |
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Item 1. |
30 | |||||
Item 1A. |
30 | |||||
Item 6. |
31 | |||||
31 |
Three Months Ended |
Nine Months Ended |
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June 30, |
June 30, |
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2021 |
2020 |
2021 |
2020 |
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NET REVENUES |
$ | $ | $ | $ | ||||||||||||
COST OF SALES |
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GROSS PROFIT |
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OPERATING EXPENSES |
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Research and development |
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Selling and marketing |
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General and administrative |
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Acquisition-related costs |
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Change in fair value of acquisition consideration |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Restructuring costs |
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Selected legal costs |
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Total operating expenses |
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OPERATING INCOME |
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OTHER INCOME (EXPENSE) |
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Interest income |
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Interest expense |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
RADx grant income |
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Other, net |
( |
) | ||||||||||||||
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Total other income (expense) |
( |
) | ( |
) | ( |
) | ||||||||||
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EARNINGS BEFORE INCOME TAXES |
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INCOME TAX PROVISION |
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NET EARNINGS |
$ | $ | $ | $ | ||||||||||||
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BASIC EARNINGS PER COMMON SHARE |
$ | $ | $ | $ | ||||||||||||
DILUTED EARNINGS PER COMMON SHARE |
$ | $ | $ | $ | ||||||||||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC |
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EFFECT OF DILUTIVE STOCK OPTIONS AND RESTRICTED SHARE UNITS |
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WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED |
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ANTI-DILUTIVE SECURITIES: |
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Common share options and restricted share units |
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Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
2021 |
2020 |
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NET EARNINGS |
$ | $ | $ | $ | ||||||||||||
Other comprehensive income (loss): |
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Foreign currency translation adjustment |
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Unrealized gain (loss) on cash flow hedge |
( |
) | ( |
) | ||||||||||||
Reclassification of amortization of gain on cash flow hedge |
( |
) | ( |
) | ( |
) | ||||||||||
Income taxes related to items of other comprehensive income (loss) |
( |
) | ( |
) | ||||||||||||
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Other comprehensive income (loss), net of tax |
( |
) | ||||||||||||||
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COMPREHENSIVE INCOME |
$ | $ | $ | $ | ||||||||||||
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Nine Months Ended June 30, |
2021 |
2020 |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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Net earnings |
$ | $ | ||||||
Non-cash items included in net earnings: |
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Depreciation of property, plant and equipment |
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Amortization of intangible assets |
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Stock compensation expense |
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Deferred income taxes |
( |
) | ||||||
Change in fair value of acquisition consideration |
( |
) | ( |
) | ||||
Change in the following: |
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Accounts receivable |
( |
) | ( |
) | ||||
Inventories |
( |
) | ( |
) | ||||
Prepaid expenses and other current assets |
( |
) | ||||||
Accounts payable and accrued expenses |
( |
) | ||||||
Income taxes payable |
( |
) | ||||||
Other, net |
( |
) | ||||||
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Net cash provided by operating activities |
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CASH FLOWS FROM INVESTING ACTIVITIES |
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Purchase of property, plant and equipment |
( |
) | ( |
) | ||||
Payment of acquisition consideration holdback |
( |
) | — | |||||
Acquisition of Exalenz, net of cash acquired |
— | ( |
) | |||||
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Net cash used in investing activities |
( |
) | ( |
) | ||||
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CASH FLOWS FROM FINANCING ACTIVITIES |
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Payment on revolving credit facility |
( |
) | ( |
) | ||||
Proceeds from revolving credit facility |
— | |||||||
Payment of debt issuance costs |
— | ( |
) | |||||
Proceeds from exercise of stock options |
— | |||||||
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Net cash (used in) provided by financing activities |
( |
) | ||||||
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Effect of Exchange Rate Changes on Cash and Cash Equivalents |
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Net Increase in Cash and Cash Equivalents |
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Cash and Cash Equivalents at Beginning of Period |
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Cash and Cash Equivalents at End of Period |
$ | $ | ||||||
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June 30, 2021 (Unaudited) |
September 30, 2020 |
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CURRENT ASSETS |
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Cash and cash equivalents |
$ | $ | ||||||
Accounts receivable, less allowances of $ |
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Inventories, net |
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Prepaid expenses and other current assets |
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Total current assets |
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PROPERTY, PLANT AND EQUIPMENT, at Cost |
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Land |
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Buildings and improvements |
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Machinery, equipment and furniture |
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Construction in progress |
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Subtotal |
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Less: accumulated depreciation and amortization |
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Property, plant and equipment, net |
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OTHER ASSETS |
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Goodwill |
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Other intangible assets, net |
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Right-of-use |
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Deferred income taxes |
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Other assets |
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Total other assets |
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TOTAL ASSETS |
$ | $ | ||||||
June 30, 2021 (Unaudited) |
September 30, 2020 |
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CURRENT LIABILITIES |
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Accounts payable |
$ | $ | ||||||
Accrued employee compensation costs |
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Current portion of acquisition consideration |
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Current operating lease obligations |
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Current government grant obligations |
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Other accrued expenses |
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Income taxes payable |
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Total current liabilities |
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NON-CURRENT LIABILITIES |
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Acquisition consideration |
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Post-employment benefits |
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Fair value of interest rate swaps |
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Long-term operating lease obligations |
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Long-term debt |
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Government grant obligations |
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Long-term income taxes payable |
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Deferred income taxes |
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Other non-current liabilities |
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Total non-current liabilities |
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COMMITMENTS AND CONTINGENCIES |
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SHAREHOLDERS’ EQUITY |
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Preferred stock, |
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Common shares, |
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Additional paid-in capital |
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Retained earnings |
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Accumulated other comprehensive income (loss) |
( |
) | ||||||
Total shareholders’ equity |
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TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ | $ | ||||||
Common Shares Issued |
Additional Paid-In Capital |
Retained Earnings |
Accumulated Other Comprehensive Income (Loss) |
Total Shareholders’ Equity |
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THREE MONTHS ENDED JUNE 30, 2021 |
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Balance at March 31, 2021 |
$ | $ | $ | $ | ||||||||||||||||
Conversion of restricted share units and exercise of stock options |
— | — | ||||||||||||||||||
Stock compensation expense |
— | — | — | |||||||||||||||||
Net earnings |
— | — | — | |||||||||||||||||
Foreign currency translation adjustment |
— | — | — | |||||||||||||||||
Hedging activity, net of tax |
— | — | — | |||||||||||||||||
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Balance at June 30, 2021 |
$ | $ | $ | $ | ||||||||||||||||
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THREE MONTHS ENDED JUNE 30, 2020 |
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Balance at March 31, 2020 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
Conversion of restricted share units and exercise of stock options |
— | — | — | — | ||||||||||||||||
Stock compensation expense |
— | — | — | |||||||||||||||||
Net earnings |
— | — | — | |||||||||||||||||
Foreign currency translation adjustment |
— | — | — | |||||||||||||||||
Hedging activity, net of tax |
— | — | — | ( |
) | ( |
) | |||||||||||||
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Balance at June 30, 2020 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
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Common Shares Issued |
Additional Paid-In Capital |
Retained Earnings |
Accumulated Other Comprehensive Income (Loss) |
Total Shareholders’ Equity |
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NINE MONTHS ENDED JUNE 30, 2021 |
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Balance at September 30, 2020 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
Conversion of restricted share units and exercise of stock options |
— | — | ||||||||||||||||||
Stock compensation expense |
— | — | — | |||||||||||||||||
Net earnings |
— | — | — | |||||||||||||||||
Foreign currency translation adjustment |
— | — | — | |||||||||||||||||
Hedging activity, net of tax |
— | — | — | |||||||||||||||||
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Balance at June 30, 2021 |
$ | $ | $ | $ | ||||||||||||||||
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NINE MONTHS ENDED JUNE 30, 2020 |
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Balance at September 30, 2019 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
Conversion of restricted share units and exercise of stock options |
( |
) | — | — | ( |
) | ||||||||||||||
Stock compensation expense |
— | — | — | |||||||||||||||||
Net earnings |
— | — | — | |||||||||||||||||
Foreign currency translation adjustment |
— | — | — | |||||||||||||||||
Hedging activity, net of tax |
— | — | — | ( |
) | ( |
) | |||||||||||||
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Balance at June 30, 2020 |
$ | $ | $ | ( |
) | $ | ||||||||||||||
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1. |
Nature of Business |
2. |
Basis of Presentation |
3. |
Significant Accounting Policies |
(a) |
Recent Accounting Pronouncements – |
(b) |
Reclassifications – |
4. |
Revenue Recognition |
Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
Inc (Dec) |
2021 |
2020 |
Inc (Dec) |
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Diagnostics- |
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Americas |
$ | $ | % | $ | $ | % | ||||||||||||||||||
EMEA |
% | % | ||||||||||||||||||||||
ROW |
( |
)% | % | |||||||||||||||||||||
Total Diagnostics |
% | % | ||||||||||||||||||||||
Life Science- |
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Americas |
( |
)% | % | |||||||||||||||||||||
EMEA |
( |
)% | % | |||||||||||||||||||||
ROW |
( |
)% | % | |||||||||||||||||||||
Total Life Science |
( |
)% | % | |||||||||||||||||||||
Consolidated |
$ | $ | ( |
)% | $ | $ | % | |||||||||||||||||
Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
Inc (Dec) |
2021 |
2020 |
Inc (Dec) |
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Diagnostics- |
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Molecular assays |
$ | $ | % | $ | $ | ( |
)% | |||||||||||||||||
Non-molecular assays |
% | % | ||||||||||||||||||||||
Total Diagnostics |
$ | $ | % | $ | $ | % | ||||||||||||||||||
Life Science- |
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Molecular reagents |
$ | $ | ( |
)% | $ | $ | % | |||||||||||||||||
Immunological reagents |
( |
)% | % | |||||||||||||||||||||
Total Life Science |
$ | $ | ( |
)% | $ | $ | % | |||||||||||||||||
Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
Inc (Dec) |
2021 |
2020 |
Inc (Dec) |
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Diagnostics- |
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Gastrointestinal assays |
$ | $ | % | $ | $ | % | ||||||||||||||||||
Respiratory illness assays |
( |
)% | ( |
)% | ||||||||||||||||||||
Blood chemistry assays |
% | % | ||||||||||||||||||||||
Other |
% | % | ||||||||||||||||||||||
Total Diagnostics |
$ | $ | % | $ | $ | % | ||||||||||||||||||
5. |
Fair Value Measurements |
Fair Value Measurements Using Inputs Considered as |
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Carrying Value |
Level 1 |
Level 2 |
Level 3 |
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Interest rate swaps - |
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As of June 30, 2021 |
$ | ( |
) | $ | $ | ( |
) | $ | ||||||||
As of September 30, 2020 |
$ | ( |
) | $ | $ | ( |
) | $ | ||||||||
Contingent consideration - |
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As of June 30, 2021 |
$ | ( |
) | $ | $ | $ | ( |
) | ||||||||
As of September 30, 2020 |
$ | ( |
) | $ | $ | $ | ( |
) |
6. |
Business Combinations |
Three Months |
Nine Months |
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Ended June 30, |
Ended June 30, |
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2021 |
2020 |
2021 |
2020 |
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Net revenues |
$ | $ | $ | $ | ||||||||||||
Net loss |
$ | ( |
) | ( |
) | ( |
) | ( |
) |
April 30, 2020 |
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Fair value of assets acquired - |
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Cash |
$ | |||
Accounts receivable |
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Inventories |
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Other current assets |
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Property, plant and equipment |
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Goodwill |
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Other intangible assets (estimated useful life): |
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Non-compete agreement ( |
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Trade name ( |
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Technology ( |
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Customer relationships ( |
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Right-of-use |
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Deferred tax assets, net |
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Fair value of liabilities assumed - |
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Accounts payable and accrued expenses (including current portion of lease and government grant obligations) |
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Long-term lease obligations |
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Long-term government grant obligations |
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Other non-current liabilities |
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Total consideration paid (including $ |
$ | |||
|
|
Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
2021 |
2020 |
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Net revenues |
$ | $ | $ | $ | ||||||||||||
Net earnings |
Three Months Ended June 30, |
Nine Months Ended June 30, |
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2021 |
2020 |
2021 |
2020 |
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Adjustments to net revenues |
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Exalenz pre-acquisition net revenues |
$ | $ | $ | $ | ||||||||||||
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Adjustments to net earnings |
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Exalenz pre-acquisition net loss |
$ | $ | ( |
) | $ | $ | ( |
) | ||||||||
Pro forma adjustments: |
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Meridian acquisition-related costs |
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Exalenz transaction-related costs |
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Gain on Exalenz purchase price currency contracts |
( |
) | ( |
) | ||||||||||||
Remove net impact of non-continuing personnel, locations or activities |
( |
) | ( |
) | ||||||||||||
Incremental depreciation and amortization |
( |
) | ( |
) | ||||||||||||
Interest, net |
( |
) | ||||||||||||||
Tax effects of pro forma adjustments and recognizing benefit on resulting Exalenz losses |
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Total adjustments to net earnings |
$ | $ | ( |
) | $ | $ | ( |
) | ||||||||
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7. |
Cash and Cash Equivalents |
June 30, 2021 |
September 30, 2020 |
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Institutional money market funds |
$ | $ | ||||||
Cash on hand, unrestricted |
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|
|
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Total |
$ | $ | ||||||
|
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|
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8. |
Inventories, Net |
June 30, 2021 |
September 30, 2020 |
|||||||
Raw materials |
$ | $ | ||||||
Work-in-process |
||||||||
Finished goods - instruments |
||||||||
Finished goods - kits and reagents |
||||||||
|
|
|
|
|||||
Total |
$ | $ | ||||||
|
|
|
|
9. |
Leasing Arrangements |
Three Months Ended June 30, |
Nine Months Ended June 30, |
|||||||||||||||
2021 |
2020 |
2021 |
2020 |
|||||||||||||
Lease costs within cost of sales |
$ | $ | $ | $ | ||||||||||||
Lease costs within operating expenses |
||||||||||||||||
Right-of-use |
June 30, 2021 |
September 30, 2020 |
|||||||
Weighted average remaining lease term |
||||||||
Average discount rate |
% | % |
2021 (represents remainder of fiscal year) |
$ | |||
2022 |
||||
2023 |
||||
2024 |
||||
2025 |
||||
Thereafter |
||||
Total lease payments |
||||
Less amount of lease payments representing interest |
( |
) | ||
Total present value of lease payments |
$ | |||
Nine Months Ended June 30, |
2021 |
2020 |
||||||
Cash paid for amounts included in the measurement of lease liabilities: |
||||||||
Operating cash flows from operating leases |
$ | $ | ||||||
10. |
Goodwill and Other Intangible Assets, Net |
June 30, 2021 |
September 30, 2020 |
|||||||||||||||
Gross Carrying Value |
Accumulated Amortization |
Gross Carrying Value |
Accumulated Amortization |
|||||||||||||
Manufacturing technologies, core products and cell lines |
$ | $ | $ | $ | ||||||||||||
Trade names, licenses and patents |
||||||||||||||||
Customer lists, customer relationships and supply agreements |
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Non-compete agreements |
||||||||||||||||
Total |
$ | $ | $ | $ | ||||||||||||
11. |
Bank Credit Arrangements |
12. |
Contingent Obligations and Non-Current Liabilities |
June 30, 2021 |
September 30, 2020 |
|||||||
Current liabilities |
$ | $ | ||||||
Non-current liabilities |
$ | $ |
13. |
National Institutes of Health Contracts |
14. |
Reportable Segment and Major Customers Information |
Three Months Ended June 30, |
Nine Months Ended June 30, |
|||||||||||||||
2021 |
2020 |
2021 |
2020 |
|||||||||||||
Diagnostics |
||||||||||||||||
Customer A |
% | % | % | % | ||||||||||||
Customer B |
% | % | % | % | ||||||||||||
Customer C |
% | % | % | % | ||||||||||||
Life Science |
||||||||||||||||
Customer D |
% | % | % | % | ||||||||||||
Customer E |
% | % | % | % |
Diagnostics |
Life Science |
Corporate (1) |
Eliminations (2) |
Total |
||||||||||||||||
Three Months Ended June 30, 2021 |
||||||||||||||||||||
Net revenues - |
||||||||||||||||||||
Third-party |
$ | $ | $ | — | $ | — | $ | |||||||||||||
Inter-segment |
— | ( |
) | — | ||||||||||||||||
Operating income |
( |
) | ||||||||||||||||||
Goodwill (June 30, 2021) |
— | — | ||||||||||||||||||
Other intangible assets, net (June 30, 2021) |
— | — | ||||||||||||||||||
Total assets (June 30, 2021) |
— | |||||||||||||||||||
Three Months Ended June 30, 2020 |
||||||||||||||||||||
Net revenues - |
||||||||||||||||||||
Third-party |
$ | $ | $ | — | $ | — | $ | |||||||||||||
Inter-segment |
— | ( |
) | — | ||||||||||||||||
Operating income |
( |
) | ( |
) | ( |
) | ||||||||||||||
Goodwill (September 30, 2020) |
— | — | ||||||||||||||||||
Other intangible assets, net (September 30, 2020) |
— | — | ||||||||||||||||||
Total assets (September 30, 2020) |
— | ( |
) | |||||||||||||||||
Nine Months Ended June 30, 2021 |
||||||||||||||||||||
Net revenues - |
||||||||||||||||||||
Third-party |
$ | $ | $ | — | $ | — | $ | |||||||||||||
Inter-segment |
— | ( |
) | — | ||||||||||||||||
Operating income |
( |
) | ||||||||||||||||||
Nine Months Ended June 30, 2020 |
||||||||||||||||||||
Net revenues - |
||||||||||||||||||||
Third-party |
$ | $ | $ | — | $ | — | $ | |||||||||||||
Inter-segment |
— | ( |
) | — | ||||||||||||||||
Operating income |
( |
) | ||||||||||||||||||
(1) |
Includes selected legal costs of $ |
(2) |
Eliminations consist of inter-segment transactions. |
Three Months Ended June 30, |
Nine Months Ended June 30, |
|||||||||||||||
2021 |
2020 |
2021 |
2020 |
|||||||||||||
Operating income: |
||||||||||||||||
Diagnostics segment |
$ | $ | ( |
) | $ | $ | ||||||||||
Life Science segment |
||||||||||||||||
Eliminations |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total segment operating income |
||||||||||||||||
Corporate operating expenses |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
Interest income |
||||||||||||||||
Interest expense |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||
RADx initiative grant income |
— | — | ||||||||||||||
Other, net |
( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Consolidated earnings before income taxes |
$ | $ | $ | $ | ||||||||||||
|
|
|
|
|
|
|
|
15. |
Income Taxes |
16. |
Litigation and Regulatory Matters |
17. |
Subsequent Event |
- | By Reportable Segment & Geographic Region |
- | By Product Platform/Type |
Three Months Ended June 30, |
Nine Months Ended June 30, |
|||||||||||||||||||||||||||
2021 |
2020 |
Change |
2021 |
2020 |
Change |
|||||||||||||||||||||||
Gross profit |
$ | 37,111 | $ | 55,983 | (34 | )% | $ | 156,431 | $ | 118,180 | 32 | % | ||||||||||||||||
Gross profit margin |
58 | % | 66 | % | -8 points | 65 | % | 62 | % | +3 points |
Three Months Ended June 30, |
||||||||||||||||||||
Research & Development |
Selling & Marketing |
General & Administrative |
Other |
Total Operating Expenses |
||||||||||||||||
Fiscal 2020: |
||||||||||||||||||||
Diagnostics |
$ | 6,129 | $ | 5,009 | $ | 6,279 | $ | (4,387 | ) | $ | 13,030 | |||||||||
Life Science |
539 | 1,273 | 3,630 | (3 | ) | 5,439 | ||||||||||||||
Corporate |
— | — | 2,715 | 134 | 2,849 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Expenses (2020 Quarter) |
$ | 6,668 | $ | 6,282 | $ | 12,624 | $ | (4,256 | ) | $ | 21,318 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Fiscal 2021: |
||||||||||||||||||||
Diagnostics |
$ | 5,463 | $ | 4,966 | $ | 6,140 | $ | (3,263 | ) | $ | 13,306 | |||||||||
Life Science |
620 | 1,243 | 3,264 | — | 5,127 | |||||||||||||||
Corporate |
— | — | 2,560 | 438 | 2,998 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Expenses (2021 Quarter) |
$ | 6,083 | $ | 6,209 | $ | 11,964 | $ | (2,825 | ) | $ | 21,431 | |||||||||
|
|
|
|
|
|
|
|
|
|
Nine Months Ended June 30, |
||||||||||||||||||||
Research & Development |
Selling & Marketing |
General & Administrative |
Other |
Total Operating Expenses |
||||||||||||||||
Fiscal 2020: |
||||||||||||||||||||
Diagnostics |
$ | 15,037 | $ | 15,806 | $ | 16,853 | $ | (3,575 | ) | $ | 44,121 | |||||||||
Life Science |
1,709 | 3,733 | 8,740 | 195 | 14,377 | |||||||||||||||
Corporate |
— | — | 6,643 | 1,189 | 7,832 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Expenses (2020 Year-to-Date) |
$ | 16,746 | $ | 19,539 | $ | 32,236 | $ | (2,191 | ) | $ | 66,330 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Fiscal 2021: |
||||||||||||||||||||
Diagnostics |
$ | 16,011 | $ | 15,914 | $ | 18,441 | $ | (5,205 | ) | $ | 45,161 | |||||||||
Life Science |
1,788 | 3,856 | 9,795 | — | 15,439 | |||||||||||||||
Corporate |
— | — | 8,591 | 2,695 | 11,286 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total Expenses (2021 Year-to-Date) |
$ | 17,799 | $ | 19,770 | $ | 36,827 | $ | (2,510 | ) | $ | 71,886 | |||||||||
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
||||||||||||||||||||
Research & Development |
Selling & Marketing |
General & Administrative |
Other |
Total Operating Expenses |
||||||||||||||||
2020 Expenses |
$ | 6,668 | $ | 6,282 | $ | 12,624 | $ | (4,256 | ) | $ | 21,318 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
% of Revenues |
8 | % | 7 | % | 15 | % | (5 | )% | 25 | % | ||||||||||
Fiscal 2021 Increases/(Decreases): |
||||||||||||||||||||
Diagnostics |
(666 | ) | (43 | ) | (139 | ) | 1,124 | 276 | ||||||||||||
Life Science |
81 | (30 | ) | (366 | ) | 3 | (312 | ) | ||||||||||||
Corporate |
— | — | (155 | ) | 304 | 149 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
2021 Expenses |
$ | 6,083 | $ | 6,209 | $ | 11,964 | $ | (2,825 | ) | $ | 21,431 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
% of Revenues |
10 | % | 10 | % | 19 | % | (4 | )% | 34 | % | ||||||||||
% Increase (Decrease) |
(9 | )% | (1 | )% | (5 | )% | 34 | % | 1 | % |
Nine Months Ended June 30, |
||||||||||||||||||||
Research & Development |
Selling & Marketing |
General & Administrative |
Other |
Total Operating Expenses |
||||||||||||||||
2020 Expenses |
$ | 16,746 | $ | 19,539 | $ | 32,236 | $ | (2,191 | ) | $ | 66,330 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
% of Revenues |
9 | % | 10 | % | 17 | % | (1 | )% | 35 | % | ||||||||||
Fiscal 2021 Increases/(Decreases): |
||||||||||||||||||||
Diagnostics |
974 | 108 | 1,588 | (1,630 | ) | 1,040 | ||||||||||||||
Life Science |
79 | 123 | 1,055 | (195 | ) | 1,062 | ||||||||||||||
Corporate |
— | — | 1,948 | 1,506 | 3,454 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
2021 Expenses |
$ | 17,799 | $ | 19,770 | $ | 36,827 | (2,510 | ) | $ | 71,886 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
% of Revenues |
7 | % | 8 | % | 15 | % | (1 | )% | 30 | % | ||||||||||
% Increase (Decrease) |
6 | % | 1 | % | 14 | % | (15 | )% | 8 | % |
31.1 | Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a) | |
31.2 | Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a) | |
32 | Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101.INS | Inline XBRL Instance Document | |
101.SCH | Inline XBRL Instance Extension Schema | |
101.CAL | Inline XBRL Instance Extension Calculation Linkbase | |
101.DEF | Inline XBRL Instance Extension Definition Linkbase | |
101.LAB | Inline XBRL Instance Extension Label Linkbase | |
101.PRE | Inline XBRL Instance Extension Presentation Linkbase | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
MERIDIAN BIOSCIENCE, INC. | ||||||
Date: August 6, 2021 |
By: | /s/ Bryan T. Baldasare | ||||
Bryan T. Baldasare | ||||||
Executive Vice President and Chief Financial Officer | ||||||
(Principal Financial and Accounting Officer) |