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Psychemedics Corporation Announces Top Revenue Quarter
Date:8/5/2013

ACTON, Mass., Aug. 5, 2013 /PRNewswire/ -- Psychemedics Corporation (NASDAQ: PMD) today announced second quarter financial results for the period ended June 30, 2013.  The Company also announced a quarterly dividend of $0.15 per share payable to shareholders of record as of August 15, 2013 to be paid on August 28, 2013.  This will be the Company's 68th consecutive quarterly dividend.

(Logo: http://photos.prnewswire.com/prnh/20111107/NE00639LOGO )

The Company's revenue for the quarter ended June 30, 2013 was $6.90 million versus $6.86 million for the quarter ended June 30, 2012, an increase of 1%.  Net income for the quarter ended June 30, 2013 was $1.06 million or $0.20 per diluted share, versus $1.00 million or $0.19 per diluted share, for the comparable period last year, an increase of 6%. The Company's revenue for the six months ended June 30, 2013 was $13.33 million versus $13.11 million for the six months ended June 30, 2012, an increase of 2%. Net income for the six months ended June 30, 2013 was $1.89 million or $0.36 per diluted share, versus $1.83 million or $0.35 per diluted share, for the comparable period last year, an increase of 3%.

Raymond C. Kubacki, Chairman and Chief Executive Officer, said,

"We are very pleased to report record sales for this past quarter, which exceeds any quarter in the Company's history. Our new business growth is strong, while larger companies in our base business remain more cautious on hiring. In addition, the pre-tax margins were strong at 25%."We are also very excited about the launch of our hair alcohol test.  Alcohol is the most abused substance in the world, and excessive use poses serious health and safety risks.  After years of investing time and research into developing our hair a
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SOURCE Psychemedics Corporation
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