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Mesa Labs Reports Higher Quarterly Sales and Earnings
Date:11/10/2008

LAKEWOOD, Colo., Nov. 10 /PRNewswire-FirstCall/ -- Mesa Laboratories, Inc. (Nasdaq: MLAB) today reported significantly higher sales and earnings for both its fiscal second quarter and six months ended September 30, 2008.

Highlights:

-- Second quarter revenues increase 17% over last fiscal year

-- Second quarter pre-tax income increases 8% over last fiscal year

-- Second quarter net income increases 6% over last fiscal year

For the second quarter of fiscal 2009, net sales increased 17 percent to $5,679,000 from $4,868,000 in the same quarter last year. Net income for the quarter increased six percent to $1,353,000 or $.42 per diluted share compared to $1,279,000 or $.39 per diluted share one year ago.

For the first six months of fiscal 2009, net sales increased 17 percent to $10,734,000 from $9,154,000 in the same period last year. Net income for the first six months increased three percent to $2,370,000 or $.73 per diluted share compared to $2,294,000 or $.70 per share one year ago.

"We are pleased with Mesa's financial performance this quarter," said John J. Sullivan, President and Chief Operating Officer. "The revenue for all three core product lines increased substantially over both this quarter last fiscal year and the first quarter of this fiscal year. These increased revenues translated into improved profitability. Our gross margins, earnings before taxes and net income all increased substantially compared to the first quarter of this fiscal year and are within historical ranges. I am particularly pleased with our net income this quarter which increased to 23.8% of sales, slightly above the level for all of fiscal 2008."

"Looking ahead we are cautiously optimistic that the
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SOURCE Mesa Laboratories, Inc.
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