Mesa Laboratories Inc. (MLAB, Financial) filed Quarterly Report for the period ended 2009-12-31.
Mesa Laboratories Inc. has a market cap of $85.55 million; its shares were traded at around $26.8 with a P/E ratio of 19.01 and P/S ratio of 3.97. The dividend yield of Mesa Laboratories Inc. stocks is 1.64%. Mesa Laboratories Inc. had an annual average earning growth of 21.6% over the past 5 years. GuruFocus rated Mesa Laboratories Inc. the business predictability rank of 4-star.MLAB is in the portfolios of Chuck Royce of ROYCE & ASSOCIATES.
In dollars, selling costs were $637,000 in the third fiscal quarter and $785,000 in the same prior year quarter, and for the first nine months of the fiscal year selling costs were $1,857,000 compared to $2,299,000 in the same period last year. As a percent of sales, selling cost was 12.0% in the current quarter compared to 14.7% in the prior year quarter, and 11.8% in the current nine month period compared to 14.3% for the same period last year. The decrease in sales and marketing expenses were due chiefly to cost controls in the sales and marketing effort and eliminating advertising projects with marginal returns.
Company sponsored research and development cost was $185,000 during the third fiscal quarter and $151,000 during the previous year period. For the first nine months of fiscal 2010, research and development spending increased to $508,000 from $484,000 in the same period one year ago. We are currently implementing a strategy of increasing the flow of internally developed products. Late in the first quarter of last fiscal year we introduced our new Datatrace Micropack RF product. Unlike previous versions of the Micropack line, this product allows real time radio transmission of data in addition to
Net income decreased five percent to $1,154,000 or $.35 per share on a diluted basis during the quarter from $1,216,000 or $.38 per share on a diluted basis in the previous year period. For the first nine months of the fiscal year, net income has decreased five percent to $3,424,000 or $1.04 per diluted share compared to $3,586,000 or $1.11 per diluted share in the same period last year. As previously discussed, gross margins decreased during the quarter and nine month period. A final factor impacting net income for the quarter and nine month period was lower interest income on the Companys surplus cash due to a softening of interest rates over the past year.
On December 31, 2009, we had cash and short term investments of $9,940,000. In addition, we had other current assets totaling $8,838,000 and total current assets of $18,778,000. Current liabilities of our Company were $1,649,000 which resulted in a current ratio of 11:1.
At December 31, 2009 we had contractual obligations for open purchase orders for routine purchases of supplies and inventory, which would be payable in less than one year. In addition, the Company is liable for payments to Vibrac LLC of approximately $258,000 of which $158,000 was paid in January, 2010 with the remainder being a $100,000 holdback amount to be paid in two equal payments June 2010 and in December 2010.
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Mesa Laboratories Inc. has a market cap of $85.55 million; its shares were traded at around $26.8 with a P/E ratio of 19.01 and P/S ratio of 3.97. The dividend yield of Mesa Laboratories Inc. stocks is 1.64%. Mesa Laboratories Inc. had an annual average earning growth of 21.6% over the past 5 years. GuruFocus rated Mesa Laboratories Inc. the business predictability rank of 4-star.MLAB is in the portfolios of Chuck Royce of ROYCE & ASSOCIATES.
Highlight of Business Operations:
General and administrative expenses tend to be fairly fixed and stable from year-to-year. To the greatest extent possible, we work at containing and minimizing these costs. In the third fiscal quarter of 2010, we have incurred some costs for due diligence procedures preformed related to the assets purchase from Vibrac LLC. Total administrative costs were $658,000 in the current quarter compared to $614,000 for the same quarter last year, and for the first nine months period administrative costs were $1,828,000 compared to $1,987,000 for the comparable period last year.In dollars, selling costs were $637,000 in the third fiscal quarter and $785,000 in the same prior year quarter, and for the first nine months of the fiscal year selling costs were $1,857,000 compared to $2,299,000 in the same period last year. As a percent of sales, selling cost was 12.0% in the current quarter compared to 14.7% in the prior year quarter, and 11.8% in the current nine month period compared to 14.3% for the same period last year. The decrease in sales and marketing expenses were due chiefly to cost controls in the sales and marketing effort and eliminating advertising projects with marginal returns.
Company sponsored research and development cost was $185,000 during the third fiscal quarter and $151,000 during the previous year period. For the first nine months of fiscal 2010, research and development spending increased to $508,000 from $484,000 in the same period one year ago. We are currently implementing a strategy of increasing the flow of internally developed products. Late in the first quarter of last fiscal year we introduced our new Datatrace Micropack RF product. Unlike previous versions of the Micropack line, this product allows real time radio transmission of data in addition to
Net income decreased five percent to $1,154,000 or $.35 per share on a diluted basis during the quarter from $1,216,000 or $.38 per share on a diluted basis in the previous year period. For the first nine months of the fiscal year, net income has decreased five percent to $3,424,000 or $1.04 per diluted share compared to $3,586,000 or $1.11 per diluted share in the same period last year. As previously discussed, gross margins decreased during the quarter and nine month period. A final factor impacting net income for the quarter and nine month period was lower interest income on the Companys surplus cash due to a softening of interest rates over the past year.
On December 31, 2009, we had cash and short term investments of $9,940,000. In addition, we had other current assets totaling $8,838,000 and total current assets of $18,778,000. Current liabilities of our Company were $1,649,000 which resulted in a current ratio of 11:1.
At December 31, 2009 we had contractual obligations for open purchase orders for routine purchases of supplies and inventory, which would be payable in less than one year. In addition, the Company is liable for payments to Vibrac LLC of approximately $258,000 of which $158,000 was paid in January, 2010 with the remainder being a $100,000 holdback amount to be paid in two equal payments June 2010 and in December 2010.
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