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Mesa Labs Reports 18% Increase in Third Quarter Revenues
Date:2/5/2013

he costs of our Chief Financial Officer transition, our non-GAAP adjusted net income would have risen by 4% in the third quarter."

Revenues related to our Instruments division for the third quarter and nine months ended December 31, 2012 increased 26 percent and 28 percent, respectively, as compared to the same periods last year.  The increase in revenues was primarily due to the Bios acquisition.

Revenues related to our Biological Indicators division for the third quarter and nine months ended December 31, 2012 increased nine percent and seven percent, respectively, as compared to the same periods last year.  The increase in revenues was due to organic growth.

1 The non-GAAP measures of adjusted net income and adjusted net income per diluted share are defined to exclude the impacts of non-cash intangibles amortization, net of its tax effects. A reconciliation between these non-GAAP measures and their GAAP counterparts is set forth in the table below, along with additional information regarding their use.

Financial SummaryStatements of Income(Unaudited)(Amounts in thousands, except per share data)Three months ended December 31,Nine months ended
December 31,2012201120122011Revenues

$ 11,361

$ 9,650

$ 33,627

$ 28,648Cost of revenues

4,414

3,765

12,976

11,601  Gross profit

6,947

5,885

20,651

17,047Operating expenses

4,483

2,723

11,478

7,906  Operating income

2,464

3,162

9,173

9,141Other expense

38

31

109

130  Earnings before income taxes

2,426

3,131

9,064

9,011Income taxes

883

1,144

3,173

3,291  Net income

$ 1,543

$ 1,987

$ 5,891

$ 5,720Net income per share (basic)

$ 0.4
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SOURCE Mesa Laboratories, Inc.
Copyright©2012 PR Newswire.
All rights reserved

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