LAKEWOOD, Colo., Feb. 14, 2011 /PRNewswire/ -- Mesa Laboratories, Inc. (Nasdaq: MLAB) today reported a 44 percent increase in revenue and a 19 percent increase in non-GAAP(1) net income for the fiscal third quarter ended December 31, 2010.
For the third quarter of fiscal 2011, net sales increased 44 percent to $7,652,000 from $5,318,000 in the same quarter last year. GAAP net income for the quarter increased 9 percent to $1,258,000 or $.37 per diluted share compared to $1,154,000 or $.35 per diluted share one year ago.
For the first nine months of fiscal 2011, net sales increased 46 percent to $22,861,000 from $15,702,000 in the same period last year. Net income for the first nine months increased 17 percent to $4,006,000 or $1.21 per diluted share compared to $3,424,000 or $1.04 per share one year ago.
On a non-GAAP basis (which excludes acquisition related intangible amortization), adjusted net income for the third quarter of fiscal 2011 increased 19 percent to $1,446,000 or $.43 per diluted share of common stock compared to $1,213,000 or $.37 per diluted share of common stock last year. For the first nine months of fiscal 2011, adjusted net income increased 25 percent to $4,515,000 or $1.36 per diluted share of common stock compared to $3,608,000 or $1.10 per diluted share of common stock during the same period last year. See the note below for an explanation of the calculation of adjusted net income and adjusted net income per share.
"The highlight of Mesa's third quarter
|SOURCE Mesa Laboratories, Inc.|
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