Mesa Laboratories, Inc. recently released its 10-Q report, detailing the company's operations and financial performance for the quarter. Mesa Laboratories is a global leader in the design and manufacture of life sciences tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare, and medical device industries. The company operates through four reportable segments: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions.
In the first quarter of fiscal year 2025, Mesa Laboratories reported a 15% increase in total revenues, reaching $58,170, compared to $50,645 in the same period of the prior year. The gross profit for the quarter stood at $37,249, marking a 19% increase from $31,183 in the first quarter of fiscal year 2024. Operating expenses remained relatively flat despite the increase in revenues, resulting in an operating income of $5,580, a significant improvement from the operating loss of $664 reported in the same period last year. The net income for the quarter was $3,388, compared to a net loss of $549 in the prior year period.
The Sterilization and Disinfection Control segment saw a 44% increase in revenues for the three months ended June 30, 2024, compared to the prior year period, reaching $22,957. The segment's gross profit also increased by 34% to $15,558. However, the gross profit percentage decreased by 5% to 68%, primarily due to increased labor costs and other factors.
Mesa Laboratories' Clinical Genomics division experienced a decline of 14.7% in organic revenues growth, primarily attributed to economic slowdown in China and regulatory challenges impacting sales of new Clinical Genomics instruments in the United States. The division's revenues decreased to $11,404 for the first quarter of fiscal year 2025, compared to $13,369 in the same period of the prior year. The gross profit as a percentage of revenues for the Clinical Genomics segment increased to 57% from 50% in the prior year period.
The Biopharmaceutical Development segment reported a 21.4% increase in organic revenues growth, reaching $12,008 for the quarter, compared to $9,889 in the first quarter of fiscal year 2024. The segment's gross profit as a percentage of revenues increased to 66% from 65% in the prior year period.
Lastly, the Calibration Solutions segment recorded a 3% increase in revenues, reaching $11,801 for the quarter, compared to $11,460 in the same period of the prior year. The segment's gross profit as a percentage of revenues increased to 61% from 56% in the prior year period.
Today the company's shares have moved -2.2% to a price of $104.53. For the full picture, make sure to review Mesa Laboratories's 10-Q report.
