Psychemedics Corporation Announces Third Quarter EPS of $.16

Psychemedics Corporation PMD today announced third quarter financial results for the period ended September 30, 2010. The Company's revenue for the quarter ended September 30, 2010 was $5.1 million versus $4.7 million for the quarter ended September 30, 2009, an increase of 9%. Net income for the quarter ended September 30, 2010 was $817 thousand or $0.16 per share, versus $768 thousand or $0.15 per share, for the comparable period last year. The Company also announced a quarterly dividend of $0.12 per share payable to shareholders of record as of November 26, 2010 to be paid on December 10, 2010. This will be the Company's 57th consecutive quarterly dividend.