reported record quarterly and nine-month sales of $38.2 million and $105.8 million, respectively, increases of 16% and 3% over the same periods of the prior fiscal year;

reported record quarterly and nine-month operating income of $12.5 million and $35.7 million, respectively, increases of 14% and 8% over the same periods of the prior fiscal year;

reported quarterly earnings and diluted earnings per share of $8.5 million and $0.21, respectively, increases of 10% and 11% compared with the same periods of the prior fiscal year, and an earnings record, excluding a tax benefit recognized in the third quarter of fiscal 2007 that did not recur;

reported record nine-month earnings and diluted earnings per share of $23.8 million and $0.58, respectively, increases of 6% and 5% compared with the same periods of the prior fiscal year;

declared the regular quarterly cash dividend of $0.17 per share (indicated annual rate of $0.68 per share), 21% higher than the regular quarterly rate of fiscal 2008;

reaffirmed its guidance of net sales between $140 million and $144 million and per share-diluted earnings between $0.77 and $0.81 for the fiscal year ending September 30, 2009; and

stated its initial 2010 guidance will be provided mid-September of 2009.

                                                                                              FINANCIAL HIGHLIGHTS                                                                        In Thousands, Except per Share Data                                                                                                                                                                                       Three Months June 30,       Nine Months June 30,                                            2009      2008     Change   2009       2008      Change   Net sales                         $38,240   $33,068  16  %    $105,813   $103,164  3  %     Operating income                  12,531    10,999   14  %    35,694     32,930    8  %     Net earnings                      8,502     7,763    10  %    23,829     22,518    6  %     Diluted earnings per share        $0.21     $0.19    11  %    $0.58      $0.55     5  %                                                                                                 Cash and short-term investments   $53,426   $47,050                                         Working capital                   90,354    79,921                                          Long-term debt obligations        -         -                                               Shareholders' equity              135,008   124,374                                         Total assets                      148,370   141,230                                                                                                                                      -------------------------------------------------------------------------------  

THIRD QUARTER AND NINE-MONTH RESULTS

Net sales for the third fiscal quarter ended June 30, 2009, were $38.2 million as compared to $33.1 million for the same period of the prior fiscal year, an increase of 16%. Net earnings for the third quarter of fiscal 2009 were $8.5 million, or $0.21 per diluted share, increases of 10% and 11%, respectively, over the corresponding periods of fiscal 2008. Diluted common shares outstanding for the third quarter of fiscal 2009 and 2008 were 41,191,000 and 41,050,000, respectively, an increase of 0.3% due primarily to stock option exercises.

Net sales for the nine months ended June 30, 2009, were $105.8 million as compared to $103.2 million for the same period of the prior fiscal year, an increase of 3%. Net earnings for the nine months ended June 30, 2009, were $23.8, or $0.58 per diluted share, increases of 6% and 5%, respectively, over the corresponding periods of fiscal 2008. Diluted common shares outstanding for the first nine months of fiscal 2009 and 2008 were 41,121,000 and 41,018,000, respectively, an increase of 0.3% due primarily to stock option exercises.

CASH DIVIDEND MATTERS

The Board of Directors declared the regular quarterly cash dividend of $0.17 per share for the third quarter ended June 30, 2009. The record date is July 27, 2009 and the dividend is payable August 7, 2009. The annual indicated cash dividend rate for fiscal 2009 is $0.68 per share, an increase of 21% over the fiscal 2008 rate of $0.56 per share.

FISCAL 2009 GUIDANCE REAFFIRMED

For the fiscal year ending September 30, 2009, management expects net sales to be in the range of $140 million to $144 million and per share diluted earnings to be between $0.77 and $0.81. The sales and earnings guidance provided in this press release does not include the impact of any acquisitions the Company might complete during fiscal 2009.

FINANCIAL CONDITION

The Company's financial condition is sound. At June 30, 2009, current assets were $102.6 million compared to current liabilities of $12.2 million thereby producing working capital of $90.4 million and a current ratio of 8.4.

Cash and short-term investments on hand were $53.4 million. The Company had 100% borrowing capacity under its $30 million commercial bank credit facility. The Company has no long-term debt obligations.

                                                                                                                                                                 UNAUDITED OPERATING RESULTS In Thousands, Except per Share Data                                                                                                                                                                                                                                                               The following table sets forth the unaudited comparative operating results ofMeridian Bioscience for the interim periods of fiscal 2009 and fiscal 2008.