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Mesa Labs Reports Higher First Quarter Earnings
Date:8/11/2009

LAKEWOOD, Colo., Aug. 11 /PRNewswire-FirstCall/ -- Mesa Laboratories, Inc. (Nasdaq: MLAB) today reported higher earnings for the fiscal first quarter ended June 30, 2009.

Highlights:

  • First quarter revenues decreased less than 2% from last fiscal year
  • Operating income increased 5% over last fiscal year
  • Medical Product sales increase 12%
  • Raven Biological Indicator Product sales increase 16%

For the first quarter of fiscal 2010, net sales decreased two percent to $4,977,000 from $5,054,000 in the same quarter last year. Net income for the quarter increased one percent to $1,026,000 or $.31 per diluted share of common stock compared to $1,016,000 or $.31 per diluted share of common stock last year.

"During a time when many other companies are really struggling, we are pleased to report increased profits compared to last year," said John J. Sullivan, President and Chief Executive Officer. "This first quarter of our new fiscal year started off well and, while revenue decreased slightly compared to last year, we actually posted five percent higher orders during the quarter than the comparable period last year. Both orders and sales for our Medical and Raven lines continue to grow well, while the DataTrace line is still struggling. However, after seeing large sequential quarter-to-quarter decreases in DataTrace orders, we have recently seen a stabilization of this business, albeit at a lower level than this time last year. We are hopeful for a recovery in the DataTrace business going forward, as our customer's focus on increasing their capital equipment spending. We are also pleased with our profits this quarter. As always, we continue to closel
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SOURCE Mesa Laboratories, Inc.
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