Mesa Laboratories Inc. Reports Operating Results (10-Q)
Mesa Laboratories, Inc. has a market cap of $154.8 million; its shares were traded at around $47.56 with a P/E ratio of 16.2 and P/S ratio of 4.1. The dividend yield of Mesa Laboratories, Inc. stocks is 1.1%. Mesa Laboratories, Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Mesa Laboratories, Inc. the business predictability rank of 5-star.
Highlight of Business Operations:Approximately $411,000 and $820,000, respectively, of customer payments for shipping services were reclassified from cost of revenues to revenues in the condensed statements of income for the three and six months ended September 30, 2011. This reclassification affected revenues and cost of revenues, but had no other impact on amounts in the accompanying condensed statements of income.
Biological indicator gross profit increased approximately $150,000 and $740,000, respectively, for the three and six months ended September 30, 2012, compared to the prior year, due to improved manufacturing efficiencies and higher sales.
Gross profit for Instruments increased approximately $1,320,000 and $1,800,000, respectively, for the three and six months ended September 30, 2012, compared to the prior year, primarily due to the Bios Acquisition. Gross profit for other Instruments product lines was relatively unchanged.
Selling expenses increased approximately $34,000 and $97,000, respectively, for the three and six months ended September 30, 2012, compared to the prior year. The Bios Acquisition resulted in an increase of our selling costs which was primarily offset with cost savings elsewhere. As a percent of revenues, selling expense remained relatively flat.
Working capital is the amount by which current assets exceed current liabilities. We had working capital of approximately $13,371,000 and $14,899,000, respectively, at September 30 and March 31, 2012. The decrease in working capital is due to the use of cash for the Bios Acquisition and repayment of long-term debt, partially offset by higher revenues and net income which generated increased cash flow.
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