RTTNews | Jul 13, 2021 10:21AM EDT

10:20 Tuesday, July 13, 2021 (RTTNews.com) - Shares of Meridian Bioscience, Inc. (VIVO) are falling more than 14% Tuesday morning after the diagnostic testing solutions provider announced preliminary third-quarter revenue, that fell short of the Street view.

The company sees revenue in the third quarter to be about $63.5 million. This compares with the consensus estimate of analysts polled by Thomson Reuters at $77.22 million.

The company said its Diagnostics segment performance was hurt by supply chain issues resulting in backorders. Life Science segment also impacted negatively by lower demand for reagents associated with COVID-19 testing.

Meridian is scheduled to report its third quarter results on August 6, 2021.

VIVO is at $19.27 currently. It has traded in the range of $12.98- $30.65 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3208744/meridian-bioscience-drops-14-as-prel-revenue-for-q3-below-consensus.aspx)

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