Mesa Laboratories, Inc. (NASDAQ: MLAB) made an announcement today regarding the appointment of Mark Capone to its board of directors, effective January 5, 2024. In response to this news, the company's stock moved 1.7% and is now trading at a price of $100.56 per share.
Dr. John Sullivan, Ph.D., Chairman of the Board of Directors, expressed his enthusiasm for the appointment, stating, "We are pleased to welcome Mark to Mesa's board. Mark is an accomplished life sciences executive with significant leadership and acquisitions experience spanning biopharmaceuticals, life science tools, and clinical genomics. We believe Mark's insights will be pivotal to Mesa's growth strategy, and to the value Mesa brings to its customers, employees, and shareholders."
Following Mr. Capone's election, the Mesa board will be comprised of 7 directors, the majority of whom are independent. The board is committed to ongoing director refreshment and continues to consider new, qualified independent directors.
"I am honored to be joining the board of Mesa – a high growth life sciences tools organization built around a vision to protect the vulnerable," said Mark Capone. "I look forward to joining the well-respected leaders already on Mesa's board and lending my experience to help Mesa achieve its strategic objectives."
Mr. Capone most recently served as CEO and President of Myriad Genetics for five years. Prior to his appointment as CEO and President, he held various progressive leadership roles at Myriad Genetics, with a total tenure of 17 years at the company.
In addition to his executive leadership positions, Mr. Capone is a non-executive director and member of the compensation committee for Owlstone Medical Ltd, a breath biopsy diagnostic company, and a non-executive director and member of the audit committee and financing committee of DermTech, a U.S.-based company focused on early melanoma detection and other skin applications.
About Mesa Laboratories, Inc. Mesa is a global leader in the design and manufacturing of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare, and medical device industries. Mesa offers products and services through four divisions (sterilization and disinfection control, biopharmaceutical development, clinical genomics, and calibration solutions) to help its customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world.
Gary Owens, President, and CEO, or John Sakys, CFO, both of Mesa Laboratories, Inc., can be reached at +1-303-987-8000 for further information.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $96,179 | $103,135 | $117,687 | $133,937 | $184,335 | $219,080 |
| Revenue Growth | n/a | 7.23% | 14.11% | 13.81% | 37.63% | 18.85% |
| Operating Margins | 2% | 9% | 7% | 9% | 3% | 2% |
| Net Margins | -3% | 7% | 2% | 2% | 1% | 0% |
| Net Income (k) | -$2,962 | $7,484 | $1,778 | $3,274 | $1,871 | $930 |
| Net Interest Expense (k) | -$34 | $562 | $5,504 | $8,024 | $3,885 | $4,770 |
| Depreciation & Amort. (k) | $2,542 | $2,338 | $2,234 | $2,959 | $3,262 | $4,313 |
| Earnings Per Share | -$0.79 | $1.86 | $0.41 | $0.64 | $0.35 | $5321.0 |
| EPS Growth | n/a | 335.44% | -77.96% | 56.1% | -45.31% | 1520185.71% |
| Diluted Shares (k) | 4,045 | 4,367 | 5,125 | 5,233 | 5,360 | 5,387 |
| Free Cash Flow (k) | $22,920 | $30,499 | $25,490 | $35,081 | $34,791 | $23,439 |
| Capital Expenditures | $2,799 | $55 | $1,498 | $1,992 | $4,432 | $4,544 |
| Current Ratio | 1.57 | 4.78 | 10.64 | 2.59 | 2.74 | 2.96 |
| Total Debt (k) | $74,135 | $40,613 | $140,278 | $145,675 | $169,365 | $170,272 |
| Net Debt / EBITDA | 14.48 | -2.75 | -11.17 | 6.13 | 17.99 | 17.64 |
Mesa Laboratories has weak operating margins with a stable trend, irregular cash flows, and a highly leveraged balance sheet. On the other hand, the company benefits from growing revenues and increasing reinvestment in the business and exceptional EPS growth.
