Mesa Laboratories, Inc. (NASDAQ: MLAB) (we, us, our, "Mesa" or the "Company") today reported an 18 percent increase in revenues for the third quarter ended December 31, 2012.
Highlights:
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Revenues for the third quarter increased 18 percent to $11,361,000 as compared to the same quarter last year
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Revenues for the nine months ended December 31, 2012 increased 17 percent to $33,627,000 as compared to the same period last year
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Net income for the nine months ended December 31, 2012 increased three percent to $5,891,000 as compared to the same period last year
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Non-GAAP adjusted net income for the nine months ended December 31, 2012 increased 11 percent to $7,144,000 as compared to the same period last year
Revenues for the third quarter increased 18 percent to $11,361,000 as compared to $9,650,000 for the same quarter last year. Net income for the third quarter decreased 22 percent to $1,543,000 or $0.44 per diluted share of common stock as compared to $1,987,000 or $0.57 per diluted share of common stock for the same quarter last year. Net income for the third quarter was impacted by $526,000, before tax, of Chief Financial Officer transition costs, which are one-time in nature.
Revenues for the nine months ended December 31, 2012 increased 17 percent to $33,627,000 as compared to $28,648,000 for the same period last year. Net income for the nine months ended December 31, 2012 increased three percent to $5,891,000 or $1.67 per diluted share of common stock as compared to $5,720,000 or $1.66 per diluted share of common stock for the same period last year.
On a non-GAAP basis (which excludes acquisition related intangible amortization, net of tax effects), adjusted net income for the third quarter decreased 11 percent to $1,974,000 or $0.56 per diluted share of common stock as compared to $2,217,000 or $0.63 per diluted share of common stock for the same quarter last year. Adjusted net income for the third quarter was impacted by $526,000, before tax, of Chief Financial Officer transition costs, which are one-time in nature. Adjusted net income for the nine months ended December 31, 2012 increased 11 percent to $7,144,000 or $2.03 per diluted share of common stock as compared to $6,427,000 or $1.86 per diluted share of common stock for the same period last year.