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Mesa Labs Reports 8% Increase in Second Quarter Revenues
Date:11/5/2013

LAKEWOOD, Colo., Nov. 5, 2013 /PRNewswire/ -- Mesa Laboratories, Inc. (NASDAQ: MLAB) (we, us, our, "Mesa" or the "Company") today reported an eight percent increase in revenues for the second quarter ended September 30, 2013.

Revenues for the second quarter increased eight percent to $12,676,000 as compared to $11,706,000 for the same quarter last year.  Net income for the second quarter decreased 14 percent to $1,932,000 or $0.54 per diluted share of common stock as compared to $2,248,000 or $0.64 per diluted share of common stock for the same quarter last year.  Net income for the second quarter was impacted by a net $638,000 (before tax) of unusual items, comprised of a $1,106,000 expense for uncollected sales tax liabilities which was partially offset by a gain of $468,000 related to the sale of the Nusonics product line.  The net impact of these unusual items (after tax) reduced our net income per diluted share of common stock by $0.12 for the second quarter.

Revenues for the six months ended September 30, 2013 increased seven percent to $23,894,000 as compared to $22,266,000 for the same period last year.  Net income for the six months ended September 30, 2013 decreased 13 percent to $3,792,000 or $1.06 per diluted share of common stock as compared to $4,348,000 or $1.23 per diluted share of common stock for the same period last year.  Net income for the six months ended was impacted by the same second quarter unusual items noted above.  The net impact of these unusual items (after tax) reduced our net income per diluted share of common stock by $0.11 for the six months ended September 30, 2013.

On a non-GAAP basis, adjusted net income (which excludes the non-cash impact of amortization of intangible assets, net of tax) for the second quarter decreased 13 percent to $2,337,0001
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SOURCE Mesa Laboratories, Inc.
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