Mesa Labs Reports Higher Quarterly Sales an... (e increases in net profits for the quart...)

Mesa Labs Reports Higher Quarterly Sales and Earnings

Date:11/10/2008

e increases in net profits for the quarter and six month periods were less than the overall sales increase for the period due to several reasons, which included higher sales of thermal barriers in the DataTrace line, higher sales of chemical indicator products in the Raven line and a higher contribution to the sales increases over the first six months of the fiscal year from sales in international markets. In addition to these gross margin issues, Administrative costs and Research and Development cost increases also expanded at a rate greater than the increase in net sales for both the current three and six month periods of this fiscal year.

During the first six months of fiscal 2009, the Company repurchased 3,115 shares of our common stock under a previously announced buyback plan for approximately $67,000. In addition, the Company has a remaining commitment of approximately $235,000 for capital equipment to automate certain manufacturing processes for its Raven line of biological indicators at September 30, 2008. This equipment was delivered in early October of this year. Once testing and implementation of this equipment is completed later in the third quarter of fiscal 2009, we do expect to realize improvements in both our manufacturing costs and delivery times for the affected products.

As discussed in its dividend announcement today, since establishing the regular quarterly dividend in November of 2003, the Board has maintained a policy of reviewing the Company's dividend annually at its regular November meeting. While the Board believes that the Company has the capacity to raise the dividend at this time, they have chosen to maintain the dividend at the current rate of $.10 per share of common stock and exercise caution with the Company's cash assets given the current disruptions in the credit markets and the Company's desire to further its growth through acquisitions which may utilize a large portion of those assets in the future.

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