Mesa Labs Reports Record Year End Sales an...(net sales of 10 percent. The decline in ...),Health

Date:5/19/2008

net sales of 10 percent. The decline in the quarter was due to a one time adjustment of the income taxes that occurred in the fourth quarter of last fiscal year and was attributable to favorable income tax treatment on assets acquired in the Raven acquisition during fiscal 2007. When compared on a quarterly basis, income tax expense in the fourth quarter of fiscal 2008 was 40 percent of income before taxes compared to 21 percent in the comparable period one year ago. If adjusted to the total year fiscal 2008 tax rate, net income for the fourth quarter of fiscal 2007 would have been lower by approximately $280,000 to $1,158,000. Using this adjusted fiscal 2007 net income for comparison, fiscal 2008 fourth quarter net income of $1,195,000 would have increased three percent compared to the $1,158,000 of adjusted net income in the fourth quarter of fiscal 2007.

"The fourth quarter of Fiscal 2008 was an excellent finish for a year in which we posted solid growth at Mesa," said John J. Sullivan, President and Chief Operating Officer. "Going into the quarter we had a challenging goal to meet to be able to exceed the exceptional fourth quarter that we had last year, but the Mesa team pulled together and we posted 10 percent sales growth for the quarter. With record sales and operating profits for both the quarter and the year, Mesa's businesses all have very good momentum."

"We are very excited about the prospects for the new fiscal year," continued John Sullivan. "We have recently introduced the most significant advancement in our data logger technology since the inception of the product line in the mid 1980's. The new DataTrace RF System provides real time data, an expanded temperature range and greatly increased battery lifetime. These new features are important for our data logger customers in all of our markets. This new product has been well received by our early adopters and we expect the DataTrace RF to bolster our growth in the high performance data l
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SOURCE Mesa Laboratories, Inc. Copyright©2008 PR Newswire. All rights reserved

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