Mesa Labs Reports Q3 EPS of $0.43

Mesa Laboratories, Inc. MLAB today reported a 44 percent increase in revenue and a 19 percent increase in non-GAAP net income for the fiscal third quarter ended December 31, 2010. For the third quarter of fiscal 2011, net sales increased 44 percent to $7,652,000 from $5,318,000 in the same quarter last year. GAAP net income for the quarter increased 9 percent to $1,258,000 or $.37 per diluted share compared to $1,154,000 or $.35 per diluted share one year ago. On a non-GAAP basis, adjusted net income for the third quarter of fiscal 2011 increased 19 percent to $1,446,000 or $.43 per diluted share of common stock compared to $1,213,000 or $.37 per diluted share of common stock last year. For the first nine months of fiscal 2011, adjusted net income increased 25 percent to $4,515,000 or $1.36 per diluted share of common stock compared to $3,608,000 or $1.10 per diluted share of common stock during the same period last year.