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Mesa Labs Reports Third Quarter Results
LAKEWOOD, Colo., Feb. 10, 2020 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, or “Mesa Labs”) today reported third quarter results
About this update from Mesa Laboratories, Inc.
[{"type":"text","content":"LAKEWOOD, Colo., Feb. 10, 2020 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, or “Mesa Labs”) today reported third quarter results for the three months ended December 31, 2019.\n Financial Results (amounts in thousands, except per share data) In comparison to the same quarter in the prior year, third quarter revenues increased 19% to $31,655, operating (loss) income decreased 356% to $(3,381) and net (loss) income decreased 640% to $(4,630) or $(1.06) per diluted share of common stock. As detailed in the Unusual Items table below, operating income for the three months ended December 31, 2019 and 2018 was impacted by unusual items totaling $8,636 and $3,669, respectively. Excluding unusual items in both quarters, operating income would have increased 5% to $5,255 as compared to the same quarter in the prior year. For the nine months ended December 31, 2019, in comparison to the same period in the prior year, revenues increased 9% to $83,479, operating income decreased 9% to $6,595 and net income decreased 50% to $3,029 or $0.69 per diluted share of common stock. As detailed in the Unusual Items table below, operating income for the nine months ended December 31, 2019 and 2018 was impacted by unusual items totaling $8,676 and $6,969, respectively. Excluding unusual items for both nine-month periods, operating income would have increased 8% to $15,271 as compared to the same nine-month period in the prior year. On a non-GAAP basis, in comparison to the same quarter in the prior year, third quarter adjusted operating income¹ (“AOI”) decreased 63% to $2,720 or $0.62 per diluted share of common stock. In comparison to the same period in the prior year, adjusted operating income for the nine months ended December 31, 2019 decreased 4% to $18,076 or $4.09 per diluted share of common stock. As detailed in the Unusual Items table below, AOI for both the three and the nine months ended December 31, 2019 were impacted by unusual items totaling $6,294 and $6,334, respectively while AOI for the nine months ended December 31, 2018 was impacted by an unusual item totaling $3,330. Excluding the unusual items for the third quarter and both the nine months ended December 31, 2019 and 2018, adjusted operating income would have increased 22% to $9,014 and 11% to $24,410 for the three and nine months ended December 31, 2019, ...