Mesa Labs Q3 Earnings Rise

(RTTNews) - Mesa Laboratories, Inc. (MLAB), a manufacturer of instruments and disposable products, Monday reported a rise in earnings for the third quarter, citing sales from the two acquisitions completed during period and revenue growth of 3 to 4 percent in Mesa's existing Instruments and Biological Indicators Divisions.

Earnings increased by 13 percent to $1.75 million, or $0.48 per share, from $1.54 million, or $0.44 per share, a year earlier.

Excluding amortization of intangible assets (net of tax), earnings rose by 15 percent to $2.27 million, or $0.62 per share, from $1.97 million, or $0.56 per share, a year ago.

For the 3-month period, revenues rose by 15 percent to $13.12 million from $11.36 million a year ago.

John Sullivan, CEO of Mesa, said, "Looking ahead, we expect that the CM business will drive solid revenue growth again in Mesa's fourth fiscal quarter. However, it will take a few quarters to fully realize the profit contribution of this new business."