Computeruser.com
Latest News

Mesa Labs Reports 28% Increase in Annual Net Income

LAKEWOOD, Colo. May 23, 2012 March 31, 2012

Highlights:

  • $10,000,000
  • $2,200,000
  • $2.63
  • $37,963,000

$10,525,000 $9,965,000 $2,200,000 $2,176,000 $.62 $.64 $350,000

March 31, 2012 $37,963,000 $32,826,000 $7,919,000 $2.29 $6,183,000 $1.86

March 31, 2012 $2,681,000 $.76 $2,417,000 $.71 $9,100,000 $2.63 $6,940,000 $2.08

John J. Sullivan $350,000

John Sullivan

During the fourth quarter and 12 month period of fiscal 2012, sales of the Company’s instrumentation products and services increased five percent and 10 percent, respectively, compared to the prior year period.  The revenue increase was due to organic growth of the three major products that make up the instruments segment.

During the fourth quarter and 12 month period of fiscal 2012, sales of the Company’s Biological Indicator products increased six percent and 21 percent, respectively, compared to the same period last fiscal year.  The increase in Biological Indicator sales during the quarter was due to organic growth.  The increase in the 12 month period was due to revenue added as a result of the acquisition the Apex products in December, 2010 and organic growth.

Mesa Laboratories develops, acquires, manufactures and markets electronic instruments and disposables for industrial, pharmaceutical and medical applications.

March 31, 2011

Financial Summary

Statements of Earnings

(Amounts in thousands except EPS)

Year ended March 31,

Three months ended

March 31,

(Unaudited)

2012

2011

2012

2011

Revenues

$ 37,963

$ 32,826

$ 10,525

$ 9,965

Cost of revenues

14,452

13,258

4,061

3,770

  Gross profit

23,511

19,568

6,464

6,195

Operating expense

11,034

9,704

3,128

2,869

  Operating income

12,477

9,864

3,336

3,326

Other expense (income)

146

113

15

34

  Earnings before taxes

12,331

9,751

3,321

3,292

Income taxes

4,412

3,568

1,121

1,116

  Net income

$ 7,919

$ 6,183

$ 2,200

$ 2,176

EPS (basic)

$ 2.41

$ 1.91

$ 0.67

$ 0.67

EPS (diluted)

2.29

1.86

0.62

0.64

Average shares (basic)

3,285

3,231

3,300

3,248

Average shares (diluted)

3,462

3,330

3,533

3,385

 

Balance Sheets

(Amounts in thousands)

March 31,

2012

March 31,

2011

Cash and cash equivalents

$ 7,191

$ 3,546

Other current assets

11,970

13,772

  Total current assets

19,161

17,318

Property and equipment

7,266

7,308

Other assets

24,269

25,934

  Total assets

$ 50,696

$ 50,560

Liabilities

$ 6,781

$ 14,143

Stockholders’ equity

43,915

36,417

  Total liabilities and stockholders’ equity

$ 50,696

$ 50,560

 

Reconciliation of Non-GAAP Measures

(Amounts in thousands except EPS)

Year ended March 31,

Three months ended

March 31,

2012

2011

2012

2011

Net income

$ 7,919

$ 6,183

$ 2,200

$ 2,176

Intangible amortization, net of taxes

956

757

249

241

Impairment of intangible assets, net of taxes

225

232

Adjusted net income

$ 9,100

$ 6,940

$ 2,681

$ 2,417

Adjusted EPS (diluted)

$ 2.63

$ 2.08

$ 0.76

$ 0.71

Average shares (diluted)

3,462

3,330

3,533

3,385

The non-GAAP measures of adjusted net income and adjusted earnings per share presented in the reconciliation above are defined to exclude the impacts of non-cash intangibles amortization and impairment, net of their tax effects. The tax effect is calculated using the average corporate rate for that period multiplied by the elimination. We believe that excluding these acquisition related expenses provides the ability to understand the benefits of acquisitions based on their cash return.

We provide non-GAAP net income and non-GAAP earnings per share amounts in order to provide meaningful supplemental information regarding our operational performance. Our management uses non-GAAP measures to evaluate the performance of our business and to compensate employees. This information facilitates our management’s internal comparisons to our historical operating results as well as to the operating results of our competitors. Since management finds this measure to be useful, we believe that our investors can benefit by evaluating both our non-GAAP and our GAAP results.

Our management recognizes that items such as amortization of intangibles can have a material impact on our net income. To gain a complete picture of all effects on the company’s profit and loss from any and all events, management does (and investors should) rely upon the GAAP income statement. The non-GAAP numbers focus instead upon the core operating business of the company.

Readers are reminded that non-GAAP measures are merely a supplement to, and not a replacement for, or superior to our financial measures prepared according to GAAP. They should be evaluated in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

SOURCE Mesa Laboratories, Inc.

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test