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Psychemedics Corporation Announces a 20% Increase in Revenue and a 34% Increase in Profits for 2011 Year End
Date:2/23/2012

and chromatographic procedures.  This patent is fundamental to hair analysis drug testing because if you cannot get the drugs out of the hair, the drugs cannot be measured.  In addition, the Company received international accreditation (ISO/IEC 17025:2005) for a broad spectrum of laboratory testing including drugs of abuse and forensics in hair and urine specimens in the fourth quarter. The International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025 accreditation confirms international compliance and technical competence of the laboratory. This additional recognition affirms to our growing number of international clients, as well as domestic clients, that they are partnered with one of the highest quality laboratories anywhere in the world.  Finally, the Company has continued to invest in Sales and Marketing with additional staff and innovative programs."

Kubacki continued: "This year also marks the Company's 25 year anniversary milestone.  Since pioneering the use of hair testing for drugs of abuse over 25 years ago, Psychemedics has achieved global recognition as an innovative organization and technology leader in the field of drug testing. While the Company is proud to celebrate our history and significant achievements over the past 25 years, we look to the future for even greater success."

Kubacki concluded, "The Company's balance sheet remains strong with approximately $5.6 million in cash and cash equivalents and no long-term debt.  Our directors share our confidence in the future of Psychemedics and remain committed to rewarding shareholders and sharing the financial success of the Company with them as we grow.  Therefore, we are pleased to declare a 25% increase in our quarterly dividend to $0.15 per share. This dividend represents our sixty-second consecutive quarterly dividend.”

Psychemedics is the world's largest provider of hair testing for drugs of abus
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SOURCE Psychemedics Corporation
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