Mesa Labs Reports Second Quarter Results for FY21

About this update from Mesa Laboratories, Inc.

[{"type":"text","content":"LAKEWOOD, Colo., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB) today announced results for the second quarter (“2Q21”) and six months ended September 30, 2020.\n Financial highlights for the quarter and six months ended September 30, 2020 as compared to last year: Revenues increased 25% and 19%, respectivelyOperating income decreased 5% and 21%, respectively Non-GAAP adjusted operating income excluding unusual items1 increased 41% and 21%, respectively Financial Results (amounts in thousands, except per share data) In comparison to the same quarter in the prior year, 2Q21 revenues increased 25% to $31,860, operating income decreased 5% to $4,470 and net income was $2,679, a decrease of 16% or $0.51 per diluted share of common stock. As detailed in the Unusual Items table below, operating income for 2Q21 was impacted by unusual items totaling $628. For the six months ended September 30, 2020, in comparison to the prior year, revenues increased 19% to $61,801, operating income decreased 21% to $8,040, and net income decreased 50% to $3,896 or $0.79 per diluted share of common stock. As detailed in the Unusual Items table below, operating income for the six months ended September 30, 2020 was impacted by unusual items totaling $264. Total revenues, excluding the Cold Chain Packaging division (which we exited during 3Q20), increased 29% for 2Q21 while organic revenues declined 8% as compared to the prior year. Total revenues also increased 6% sequentially vs 1Q21. Total revenues, excluding the Cold Chain Packaging division increased 25% for the six months ended September 30, 2020 while organic revenues declined 6% period over period. On a non-GAAP basis, in comparison to the same quarter in the prior year, 2Q21 adjusted operating income (“AOI”) increased 33% to $9,990 or $1.91 per diluted share of common stock. In comparison to the same period in the prior year, AOI for the six months ended September 30, 2020 increased 17% to $18,182 or $3.67 per diluted share of common stock. As detailed in the Unusual Items table below, AOI for 2Q21 and the six months ended September 30, 2020 was impacted by unusual items totaling $628 and $608, respectively. Excluding Unusual Items, AOI would have increased 41% to $10,618 for 2Q21 and 21% to $18,790 for the six months ended September 30, 2020, primarily due to the strong...

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