Meridian Diagnostics, Inc.
Savings and Investment Plan
Plan 001
EIN: 31-0888197
1996 Form 5500
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
[X] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the Fiscal Year Commission
Ended December 31, 1996 File No.
0-14902
A. Full title of the Plan and the address of the Plan, if different from
that of the issuer named below:
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the Plan and the
address of its principal executive office:
MERIDIAN DIAGNOSTICS, INC.
3471 RIVERHILLS DRIVE
CINCINNATI, OHIO 45244
(513)271-3700
Index to Exhibits at Page 4
<PAGE>
REQUIRED INFORMATION
The Meridian Diagnostics, Inc. Savings and Investment Plan (the "Plan"), is
subject to the Employee Retirement Income Security Act of 1974.
Item 4 In lieu of the requirements of Items 1, 2, and 3 of Form 11-K,
the following financial statements of the Plan, notes thereto, and Report of
Independent Public Accountants thereon are being filed as Exhibit 99 to this
report:
Meridian Diagnostics, Inc. Savings and Investment Plan Financial
Statements as of December 31, 1996 and December 31, 1995 together with
Auditors' Report.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Advisory Committee has duly caused this annual report to be signed by the
undersigned thereunto duly authorized.
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
Dated: June 26, 1997 By: /s/Gerard Blain
------------------------------
Gerard Blain
Vice President, Secretary
and Chief Financial Officer
<PAGE>
INDEX TO EXHIBITS
The following Exhibits are being filed with this Annual Report on Form 11-K:
Located at
Sequentially
Exhibit Numbered Page
- ------------------------------------------------------------- -------------
(23) Consent of Independent Public Accountants 5
(99) ADDITIONAL EXHIBIT
99 Annual Financial Statements of Meridian
Diagnostics, Inc. Savings and Investment
Plan for the years ended December 31,
1996 and 1995........................... F-1 - F-16
EXHIBIT 23
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the
incorporation of our report included in this Form 11-K, into the Company's
previously filed Registration Statement File No. 333-18979.
ARTHUR ANDERSEN LLP
Cincinnati, Ohio,
June 26, 1997
EXHIBIT 99
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
FINANCIAL STATEMENTS
AS OF
DECEMBER 31, 1996 AND 1995
TOGETHER WITH
AUDITORS' REPORT
<PAGE>
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
INDEX TO ANNUAL REPORT ON FORM 11-K
Page(s)
-------
I. Financial Statements
(a) Report of Independent Public Accountants F-3-F-4
(b) Statements of Net Assets Available for Plan
Benefits, with Fund Information F-5-F-6
(c) Statement of Changes in Net Assets Available
for Plan Benefits, with Fund Information F-7
(d) Notes to Financial Statements F-8-F-12
(e) Schedule of Assets Held for Investment Purposes F-13-F-15
as of December 31, 1996
(f) Schedule of Reportable Transactions for the F-16
Year Ended December 31, 1996
<PAGE>
Report of Independent Public Accountants
To the Administrative Committee of the
Meridian Diagnostics, Inc.
Savings and Investment Plan:
We have audited the accompanying statements of net assets available for
plan benefits, with fund information of the MERIDIAN DIAGNOSTICS, INC. SAVINGS
AND INVESTMENT PLAN as of December 31, 1996 and 1995 and the related statement
of changes in net assets available for plan benefits, with fund information, for
the year ended December 31, 1996. These financial statements and the schedules,
referred to below, are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial statements and
schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the net assets available for plan benefits,
with fund information of the Meridian Diagnostics, Inc. Savings and Investment
Plan as of December 31, 1996 and 1995, and the changes in its net assets
available for plan benefits, with fund information, for the year ended December
31, 1996 in conformity with generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental Schedule of Assets Held
for Investment Purposes and Schedule of Reportable Transactions are presented
for the purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
<PAGE>
Department of Labor Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The fund information in the
statements of net assets available for plan benefits and the statements of
changes in net assets available for plan benefits is presented for purposes of
additional analysis rather than to present the net assets available for plan
benefits and changes in net assets available for plan benefits of each fund. The
supplemental schedules and fund information have been subjected to the auditing
procedures applied in the audits of the basic financial statements and, in our
opinion, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Cincinnati, Ohio,
April 15, 1997
<PAGE>
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION>
NON-
PARTICIPANT
PARTICIPANT DIRECTED DIRECTED
------------------------------------------------------------------------------ --------
MONEY CONSERVATIVE AGGRESSIVE INTER- MERIDIAN DEPOSIT
MARKET INCOME BALANCED GROWTH GROWTH NATIONAL STOCK FUND
FUND FUND FUND FUND FUND GROWTH FUND FUND (NOTE 1) TOTAL
------ ------ -------- ------------ ---------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
Cash and Cash
Equivalents $66,752 $ 6,524 $ 54,848 $ 39,399 $ - $ - 5,095 $ 165,085 $ 337,703
-------- -------- ---------- --------- ---------- -------- -------- ---------- ---------
Investments,
at market value
Mutual Funds
T. Rowe Price
International
Stock Fund - - - - - 933,875 - - 933,875
Twentieth Century
Ultra Investors
Fund - - - - 1,110,471 - - - 1,110,471
Equity Securities - - 509,172 871,622 - - - - 1,380,794
Bonds
Federal Agency - 45,094 109,218 - - - - - 154,312
Corporate - 114,735 391,526 - - - - - 506,261
Meridian Diagnostics
Company Stock - - - - - - 81,029 - 81,029
Loans to Participants - - - - - - - 76,681 76,681
-------- -------- ---------- --------- ---------- -------- -------- ---------- ---------
- 159,829 1,009,916 871,622 1,110,471 933,875 81,029 76,681 4,243,423
-------- -------- ---------- --------- ---------- -------- -------- ---------- ---------
Receivables:
Employer Contributions 2,705 7,150 35,499 30,633 42,500 22,449 7,718 (145,715) 2,939
Employee Contributions 321 910 4,541 4,701 7,097 2,702 1,497 (11,727) 10,042
Loan Payments 213 179 2,585 1,991 2,687 1,690 344 (6,685) 3,004
Accrued Income 144 2,212 9,382 1,352 65,377 27,099 820 (958) 105,428
-------- -------- ---------- --------- ---------- -------- -------- ---------- ---------
3,383 10,451 52,007 38,677 117,661 53,940 10,379 (165,085) 121,413
-------- -------- ---------- --------- ---------- -------- -------- ---------- ---------
Net Assets Available for
Plan Benefits $70,135 $176,804 $1,116,771 $ 949,698 $1,228,132 $987,815 $96,503 $ 76,681 $4,702,539
======== ======== ========== ========= ========== ======== ======== =========== =========
</TABLE>
The accompanying notes to financial statements are an integral part
of this statement.
<PAGE>
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1995
<TABLE>
<CAPTION>
NON-
PARTICIPANT
PARTICIPANT DIRECTED DIRECTED
-------------------------------------------------------------------- --------
MONEY CONSERVATIVE AGGRESSIVE INTER- DEPOSIT
MARKET INCOME BALANCED GROWTH GROWTH NATIONAL FUND
FUND FUND FUND FUND FUND GROWTH FUND (NOTE 1) TOTAL
------ ------ -------- ------------ ---------- ----------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Assets
Cash and cash equivalents $50,141 $ 16,973 $ 29,185 $ 28,658 $ - $ - $ 176,848 $ 301,805
-------- -------- -------- -------- ---------- -------- ----------- ----------
Investments, at market
value
Mutual funds
T. Rowe Price
International
Stock Fund - - - - - 460,850 - 460,850
Twentieth Century
Ultra Investors
Fund - - - - 1,150,830 - - 1,150,830
Equity Securities - - 404,293 620,007 - - - 1,024,300
Bonds
Federal Agency - 25,125 49,875 - - - - 75,000
Corporate - 100,094 296,456 - - - - 396,550
Meridian Diagnostics
Company Stock - - - - - - -
Loans to participants - - - - - - 73,910 73,910
-------- -------- -------- -------- ---------- -------- ----------- ----------
- 125,219 750,624 620,007 1,150,830 460,850 73,910 3,181,440
-------- -------- -------- -------- ---------- -------- ----------- ----------
Receivables:
Employer contributions 4,907 7,922 43,694 33,441 41,951 20,638 (140,000) 12,553
Employee contributions 770 1,620 8,491 8,340 11,507 5,866 (27,950) 8,644
Loan payments 286 878 2,821 2,877 3,937 1,170 (7,907) 4,062
Accrued income 31 1,559 5,759 859 57,543 14,459 (991) 79,219
-------- -------- -------- -------- ---------- -------- ----------- ----------
5,994 11,979 60,765 45,517 114,938 42,133 (176,848) 104,478
-------- -------- -------- -------- ---------- -------- ----------- ----------
Liabilities
Payables - - - - - - 5,044 5,044
-------- -------- -------- -------- ---------- -------- ----------- ----------
Net Assets Available
for Plan Benefits $56,135 $154,171 $840,574 $694,182 $1,265,768 $502,983 $ 68,866 $3,582,679
======= ======== ======== ======== ========== ======== =========== ==========
</TABLE>
The accompanying notes to financial statements are an
integral part of this statement.
<PAGE>
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS,
WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
NON-
PARTICIPANT
PARTICIPANT DIRECTED DIRECTED
------------------------------------------------------------------------------ --------
MONEY CONSERVATIVE AGGRESSIVE INTER- MERIDIAN DEPOSIT
MARKET INCOME BALANCED GROWTH GROWTH NATIONAL STOCK FUND
FUND FUND FUND FUND FUND GROWTH FUND FUND (NOTE 1) TOTAL
------ ------ -------- ------------ ---------- ----------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Additions:
Interest and dividends $ 3,292 $ 9,702 $ 42,571 $ 16,480 $ 414 $ 12,394 $ 643 $ 9,563 $ 95,059
Realized and unrealized
net gains (losses) - (295) 63,758 116,684 158,508 89,633 8,544 - 436,832
Rollover contributions - 888 21,293 30,918 19,309 12,133 3,624 - 88,165
Contributions- -
Employer 5,457 12,566 65,448 58,886 78,586 40,297 13,878 - 275,118
Employee 6,113 11,892 69,553 71,429 98,412 46,150 15,816 - 319,365
------- -------- --------- -------- --------- -------- ------- ------- ----------
Total Additions 14,862 34,753 262,623 294,397 355,229 200,607 42,505 9,563 1,214,539
Deductions:
Distributions to
participants 170 4,178 23,011 7,400 27,762 7,532 42 (5,044) 65,051
Plan expenses 325 1,804 10,242 8,548 5,450 3,108 151 - 29,628
------- -------- --------- -------- --------- -------- ------- ------- ----------
Total Deductions 495 5,982 33,253 15,948 33,212 10,640 193 (5,044) 94,679
Net participant loan
activity 1,030 1,526 9 2,874 (1,020) 572 1,801 (6,792) -
Transfers in (out) (1,397) (7,664) 46,818 (25,807) (358,633) 294,293 52,390 - -
------- -------- --------- -------- --------- -------- ------- ------- ----------
Net increase
(decrease) 14,000 22,633 276,197 255,516 (37,636) 484,832 96,503 7,815 1,119,860
Net Assets Available for
Plan Benefits
Beginning of year 56,135 154,171 840,574 694,182 1,265,768 502,983 - 68,866 3,582,679
------- -------- --------- -------- --------- -------- ------- ------- ----------
End of year $70,135 $176,804 $1,116,771 $949,698 $1,228,132 $987,815 $96,503 $76,681 $4,702,539
======= ======== ========== ======== ========== ======== ======= ======= ==========
</TABLE>
The accompanying notes to financial statements are an
integral part of this statement.
<PAGE>
Meridian Diagnostics, Inc.
Savings and Investment Plan
Plan 001
EIN: 31-0888197
1996 Form 5500
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1996 AND 1995
(1) Plan Description-
The following description of the Meridian Diagnostics, Inc. Savings
and Investment Plan (the Plan) provides only general information.
Participants should refer to the Plan agreement for a more complete
description of the Plan's provisions.
(a) General--The Plan became effective October 1, 1983, and was
amended and restated effective as of May 1, 1994. The Plan is
available to all full-time employees of Meridian Diagnostics,
Inc. (the Company) who have met certain service requirements as
defined in the Plan. The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974 (ERISA). The Ohio
Company serves as the Trustee and recordkeeper.
(b) Contributions--Participants may make voluntary contributions to
the Plan on a before tax basis (401(k) contributions or
deferrals) subject to stipulated maximums. In addition, the
Company, at its discretion, may make matching and/or profit
sharing contributions to the Plan. For the Plan year ended
December 31, 1996 and 1995, the Company matched 100% of employee
contributions up to 3% of participant earnings. For the Plan year
ended December 31, 1996 and the Plan year ended December 31,
1995, the Company made profit sharing contributions of $140,600
and $140,000, respectively.
(c) Participant Accounts--Each participant's account is credited with
the participant's voluntary contributions and an allocation of
the Company's discretionary contributions and plan earnings.
Allocations are based on participant earnings (profit sharing
contributions) or account balances (Plan earnings), as defined.
Participants are entitled to the benefit that can be provided
from their participant account based on vesting requirements as
defined in the Plan agreement.
<PAGE>
(d) Vesting--Participants are immediately vested in their voluntary
contributions and earnings thereon and vest in the Company's
discretionary contributions and earnings thereon as follows:
YEARS OF SERVICE PERCENTAGE VESTED
---------------- -----------------
Less than 2 0%
2 20%
3 40%
4 60%
5 80%
6 or more 100%
(e) Investment Options--Participants may direct their contributions
and Company matching and profit sharing contributions to be
invested into one or more selected funds. Participants may change
their investment options quarterly. The investment options are as
follows:
- Money Market Fund - Funds are invested in the Cardinal
Governmental Security Trust Money Market Fund.
- Income Fund - Funds are invested primarily in U.S.
Government and corporate bonds which are A rated or better,
with an average maturity not exceeding ten years.
- Balanced Fund - Funds are invested in common stocks and
quality U.S. Government or corporate bonds which are A rated
or better.
- Conservative Growth Fund - Funds are invested in diversified
equity investments designed to provide above average,
long-term total returns.
- Aggressive Growth Fund - Funds are invested in the Twentieth
Century Ultra Investors Fund. This fund invests primarily in
common stocks which have a better than average prospect for
appreciation. The fund focuses on medium-sized and smaller
companies.
- International Growth Fund - Funds are invested in the T.
Rowe Price International Stock Fund. This fund invests
primarily in common stocks of established non-U.S. companies
in developed, newly industrialized, and emerging countries
throughout the world.
<PAGE>
- Meridian Stock Fund - Funds are invested in Meridian
Diagnostics, Inc. common stock.
- Deposit Fund - Contributions to the Plan are invested in
cash and cash equivalents in this fund until reinvested in
the funds directed by the participants. It also includes
activity related to participant loans. Participant loans
bear interest at rates ranging from 6% to 10%, are secured
by the vested portion of the participants account, and are
generally repayable in 5 years. As of December 31, 1996,
$165,084 of cash had been received but not allocated to the
individual funds. Such amounts are shown as a receivable in
the individual funds with a corresponding payable in the
deposit fund.
(f) Payment of Benefits--Participants become eligible for benefit
payments upon retirement, termination, disability or death.
Participants may elect a lump sum payment, equal installments
over a period of time or an annuity. Benefits are recorded when
paid.
(g) Expenses of the Plan--The Plan pays the trust and investment fees
of the Plan and the Company provides certain administrative
services at no cost to the Plan.
(h) Forfeitures--Forfeitures may be allocated to participants, or
used to reduce employer contributions.
(2) Significant Accounting Policies-
(a) Basis of Accounting--The accompanying financial statements are
prepared on the accrual basis of accounting. The financial
statements are prepared in accordance with generally accepted
accounting principles, which require the use of estimates by
management in the determination of assets, liabilities, and
income. Actual results could differ from those estimates.
(b) Investment Valuation--The Plan's investments are stated at fair
market value based upon quoted market prices. Unrealized
valuation gains and losses are reflected currently in the
statements of changes in net assets available for plan benefits.
Realized gains and losses are computed on the specific
identification basis.
<PAGE>
(c) Realized and Unrealized Gains and Losses--In accordance with
Department of Labor regulations, realized and unrealized gains
and losses are based on the value of investments at the beginning
of the plan year or at the time of purchase, if purchased during
the year.
(d) Reclassifications--Certain reclassifications have been made to
prior year financial statements in order to conform with the
current year presentation.
(3) Tax Status-
The trust established under the Plan is qualified under the Internal
Revenue Code (IRC) as exempt from Federal income taxes. Although the
Plan has received a favorable determination letter from the Internal
Revenue Service (IRS) it has not been updated for the latest plan
amendments. However, the plan administrator believes that the Plan was
designed and is being operated in compliance with the applicable
requirements of the IRC. Therefore, they believe that the Plan was
qualified and the related trust was tax-exempt for the years ended
December 31, 1996 and 1995.
(4) Priorities Upon Termination of the Plan-
Although it has not expressed any interest to do so, the Company has
the right under the Plan to discontinue its contributions at any time
and to terminate the Plan subject to the provisions of ERISA. In the
event the Plan is terminated, the interest of all participants would
immediately vest and become nonforfeitable based upon the then current
individual account balances at the date of termination.
(5) Reconciliation to Form 5500-
As of December 31, 1996 and 1995, the Plan had $15,554 and $46,503,
respectively, of pending distributions to participants who elected to
withdraw from the Plan. These amounts are recorded as a liability in
the Plan's Form 5500; however, these amounts are not recorded as a
liability in the accompanying statements of net assets available for
benefits in accordance with generally accepted accounting principles.
<PAGE>
The following table reconciles net assets available for benefits per
the financial statements to the Form 5500 as filed by the Company for
the year ended December 31, 1996 and 1995:
NET ASSETS AVAILABLE
FOR PLAN BENEFITS
BENEFITS DECEMBER 31,
PAYABLE TO BENEFITS --------------------
PARTICIPANTS PAID 1996 1995
------------ ---------- -------- ----------
Per financial statements $ - $ 65,051 $4,702,539 $3,582,679
Accrued benefit payments (24,798) 24,798 (24,798) (46,503)
Reversal of 1995 accrual
FOR benefit payments - (46,503) - -
Other differences - (1,506) (397) 2
-------- -------- ---------- ----------
Per Form 5500 $(24,798) $ 41,840 $4,677,344 $3,536,178
======== ======== ========== ==========
(6) Additional Information-
The fair market values of individual assets that represent 5% or more
of the Plan's net assets as of December 31, 1996 and 1995 are as
follows:
DECEMBER 31,
1996 1995
---------- ----------
Twentieth Century Ultra Investors Fund $1,110,471 $1,150,830
T. Rowe Price International Stock Fund $ 933,875 $ 460,850
<PAGE>
MERIDIAN DIAGNOSTICS INC
SAVINGS & INVESTMENT PLAN
ITEM 27(A)-SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1996
IDENTITY OF SHARES/
ISSUER/ASSET DESCRIPTION PAR VALUE COST MARKET
- --------------------------------------- --------- --------- --------
BONDS
Federal Agency
- ---------------------------------------
Federal National Mtg Assoc 250 $25,000 $24,500
Federal Home Loan Mtg 200 19,981 20,594
Federal National Mtg Assn 250 25,000 24,500
Federal National Mtg Assn 250 24,938 23,500
Federal Home Loan Mtg 300 29,972 30,891
Federal Home Loan Mtg Corp 300 30,000 30,327
----- ------- -------
Total Federal Agency 1,550 154,891 154,312
Corporate Debt
- ---------------------------------------
American General Finance Corp 500 49,857 50,430
Avco Financial Service 250 24,872 25,715
Bank of New York 250 24,775 27,352
Bankamerica Corp 500 50,000 52,750
Chrysler 500 46,750 49,328
Ford Motor Credit 250 25,263 25,504
Ford Motor Credit Global 500 49,937 50,789
General Motors Acceptance Corp 150 14,923 15,188
IBM Corp 500 49,438 50,219
Lehman Brothers Inc 540 54,432 54,270
Norwest Financial Inc 250 24,945 25,866
Nova Gas Transmission 250 24,936 27,070
Tyco International LTD 500 49,961 51,780
----- ------- -------
Total Corporate Debt Bonds 4,940 490,089 506,261
----- ------- -------
Total Bonds 6,490 644,980 660,573
----- ------- -------
<PAGE>
EQUITIES
Common Stock
- ---------------------------------------
Ahmanson H F & Co 800 27,300 26,000
American International Group 450 28,463 48,713
Amoco 200 12,175 16,125
Atmel Corp 400 12,667 13,250
Avery Dennison Corp 1200 24,963 42,450
Burlington Northern Santa Fe 300 23,638 25,913
Cisco Systems Inc 300 19,650 19,088
Citicorp 300 29,963 30,900
Coca Cola Company 600 29,547 31,575
Colgate Palmolive 250 22,082 23,063
Columbia HCA Healthcare 525 18,813 21,394
Compaq Computer Corp 300 11,976 22,313
Computer Science Corp 250 19,469 20,531
CWM Mortgage Holdings 3,100 27,450 66,650
E I Dupont 150 13,445 14,119
Emerson Electric Co 200 12,050 19,375
Exxon Corp 300 25,650 29,400
Federal National Mortgage Assn 1300 22,669 48,913
Fisher Scientific 650 24,925 30,550
General Electric Co 450 21,138 44,494
Gillette Company 400 14,550 31,100
Hewlett Packard Co 550 27,385 27,638
Intel Corp 200 14,763 26,188
International Business Machine 150 22,333 22,725
Johnson & Johnson 550 24,315 27,363
Lowes Companies Inc 500 18,813 17,813
Lucent Technologies 600 21,958 27,750
McDonalds Corp 450 21,656 20,419
Medtronic Inc 200 9,743 13,600
Merck & Co 500 32,188 39,813
Microsoft Corp 200 11,788 16,525
Mobil Corp 200 22,177 24,450
Monsanto Co 600 24,026 23,325
Morton International Inc Ind 250 6,938 10,188
National City Corp 850 30,028 38,144
New York Times Class A 600 19,990 22,800
Pepsico Inc 500 15,532 14,625
Pfizer Inc 500 20,406 41,500
Potash Corp Sask Inc 400 26,133 34,000
Proctor & Gamble Co 500 31,360 53,813
Royal Dutch 5 Guilder 100 15,513 17,075
Schlumberger LTD 200 13,450 19,974
The Gillette Co 300 10,975 23,324
Toys R Us 500 15,500 14,937
Transocean Offshore Inc 200 12,988 12,524
Tribune Co 200 15,072 15,774
Tyco International Ltd 550 12,684 29,080
US Robotics Corp 300 20,794 21,600
Walt Disney Company 500 31,557 34,874
Williams Companies 1125 34,031 42,187
Worldcom Inc 800 17,419 20,850
------ --------- ---------
Total Equities 25,500 1,044,098 1,380,794
------ --------- ---------
<PAGE>
MUTUAL FUNDS
- ---------------------------------------
Twentieth Century Ultra Investors Fund 39,533 891,400 1,110,471
T. Rowe Price International Stock Fund 67,672 859,616 933,875
------- --------- ---------
Total Mutual Funds 107,205 1,751,016 2,044,346
------- --------- ---------
PROMISSORY NOTE
- ---------------------------------------
Participant loans, interest at
6% to 10% 76,681 76,681 76,681
EMPLOYER'S STOCK
- ---------------------------------------
*Meridian Diagnostics Inc.
Common Stock 6,233 72,495 81,029
------- --------- ---------
Total Assets held for Investment 222,109 $3,589,270 $4,243,423
======= ========== ==========
*Represents a party in-interest.
<PAGE>
MERIDIAN DIAGNOSTICS, INC.
SAVINGS AND INVESTMENT PLAN
ITEM 27(D) - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
CURRENT VALUE
OF ASSET
DESCRIPTION PURCHASE SELLING COST OF ON TRANSACTION NET GAIN
IDENTITY OF PARTY INVOLVED OF ASSET PRICE PRICE ASSET DATE (A) (LOSS)
- -------------------------- ----------- -------- ------- ---------- ---------------- --------
<S> <C> <C> <C> <C> <C> <C>
Reportable Transactions
by Series:
- -----------------------
Cardinal Government
Securities Trust Money Market $2,996,828 $ - $2,996,828 $2,996,828 $ -
Cardinal Government
Securities Trust Money Market - 2,965,807 $2,965,807 2,965,807 -
Hewlett Packard Co. Common Stock 80,480 - 80,480 80,480 -
Hewlett Packard Co. Common Stock - 102,364 76,308 102,364 26,056
Twentieth Century Ultra Mutual Fund 239,139 - 239,139 239,139 -
Twentieth Century Ultra Mutual Fund - 371,275 273,902 371,275 97,373
T. Rowe Price International Mutual Fund 399,137 - 399,137 399,137 -
<FN>
(A) The current value of all assets acquired or disposed of, at the time of
acquisition or disposition, is equal to the purchase price or selling
price, respectively.
</FN>
</TABLE>
