Mesa Labs Q1 Profit Rises - Quick Facts

(RTTNews) - Mesa Laboratories, Inc. (MLAB), a manufacturer of instruments and disposable products, Wednesday reported first-quarter net income of $1.88 million, up from $1.86 million in the prior year.

Earnings per share declined to $0.51 from $0.52 per share last year. Adjusted earnings were $0.71 per share, while the company posted $0.63 per share last year.

Revenues for the quarter climbed 46 percent to $16.4 million from $11.22 million a year ago.

Operating expenses advanced to $6.65 million from $3.75 million in the preceding year.

John Sullivan, President and Chief Executive Officer of the company said, "For the remainder of the fiscal year, we expect that Mesa's newly acquired businesses will continue to drive revenues growth, and we will continue our product development and marketing initiatives to promote organic growth."