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Mesa Labs Reports 6% Increase in First Quarter Revenues
Date:8/6/2013

LAKEWOOD, Colo., Aug. 6, 2013 /PRNewswire/ -- Mesa Laboratories, Inc. (NASDAQ: MLAB) (we, us, our, "Mesa" or the "Company") today reported a six percent increase in revenues for the first quarter ended June 30, 2013.

Revenues for the first quarter increased six percent to $11,218,000 as compared to $10,559,000 for the same quarter last year.  Net income for the first quarter decreased 11 percent to $1,860,000 or $0.52 per diluted share of common stock as compared to $2,099,000 or $0.59 per diluted share of common stock for the same quarter last year. 

On a non-GAAP basis, adjusted net income (which excludes the non-cash impact of amortization of intangible assets, net of tax) for the first quarter decreased ten percent to $2,238,0001 or $0.63 per diluted share of common stock as compared to $2,482,000 or $0.70 per diluted share of common stock for the same quarter last year.

"This was a quarter of mixed results for Mesa," said John J. Sullivan, President and Chief Executive Officer.  "Our Instruments Division revenues increased 17 percent and its gross margin as a percentage of revenues improved from 65 percent to 67 percent, compared to the same quarter last year.  Both of these increases were driven primarily by the acquisition of the Bios flow calibrator business in the same quarter last year.  However, we experienced an unusual event in our Biological Indicators ("BI") Division that depressed sales and margins for the quarter.  Revenues decreased five percent and gross margin as a percentage of revenues decreased from 57 percent last year to 53 percent this year.  The declines were due to an initiative to replace three batches of non-conforming product that had been shipped to customers in previous months.  The product in question had l
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SOURCE Mesa Laboratories, Inc.
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