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Mesa Labs Reports Quarterly Sales And Earnings

This news release contains forward-looking statements which involve risks and uncertainties.  The Company's actual results could differ materially from those in any such forward-looking statements.  Additional information concerning important factors that could cause results to differ materially from those in any such forward-looking statement is contained in the Company's Annual Report on Form-10K for the year ended March 31, 2009 as filed with the Securities and Exchange Commission, and from time to time in the Company's other reports on file with the Commission.

    
    
                                  FINANCIAL SUMMARY
    
    STATEMENT OF EARNINGS (Unaudited)
    ---------------------------------
                              Quarter Ended           Nine Months Ended 
                               December 31               December 31
                             2009        2008          2009        2008
                             ----        ----          ----        ----
    Net Sales            $5,318,000  $5,337,000   $15,702,000  $16,071,000
    Cost of Goods         2,020,000   1,903,000     6,109,000    5,786,000
                         ----------  ----------   -----------  -----------
    Gross Profit          3,298,000   3,434,000     9,593,000   10,285,000
    Operating Expense     1,480,000   1,550,000     4,193,000    4,770,000
                         ----------  ----------   -----------  -----------
    Operating Income      1,818,000   1,884,000     5,400,000    5,515,000
    Other (Income)
     & Expense              (14,000)    (16,000)      (26,000)     (79,000)
                         ----------  ----------   -----------  -----------
    Earnings Before
     Taxes                1,832,000   1,900,000     5,426,000    5,594,000
    Income Taxes            678,000     684,000     2,002,000    2,008,000
                         ----------  ----------   -----------  -----------
    Net Income           $1,154,000  $1,216,000    $3,424,000   $3,586,000
                         ==========  ==========   ===========  ===========
    
    Earnings Per Share
     (Basic)                   $.36        $.38         $1.07        $1.13
                         ==========  ==========   ===========  ===========
    Earnings Per Share
     (Diluted)                 $.35        $.38         $1.04        $1.11
                         ==========  ==========   ===========  ===========
    
    Average Shares
     (Basic)              3,193,000   3,182,000     3,191,000    3,177,000
                         ==========  ==========   ===========  ===========
    Average Shares
     (Diluted)            3,317,000   3,229,000     3,284,000    3,240,000
                         ==========  ==========   ===========  ===========
    
    
    
    
    BALANCE SHEETS                        (Unaudited)
    --------------                        ----------
                                             Dec. 31           March 31 
                                                2009               2009
                                          ----------         ----------
    Cash and Short-term Investments       $9,940,000         $9,111,000
    Other Current Assets                   8,838,000          9,482,000
                                          ----------         ----------
    Total Current Assets                  18,778,000         18,593,000
    Property and Equipment                 4,243,000          3,879,000
    Other Assets                           9,229,000          7,142,000
                                          ----------         ----------
    Total Assets                         $32,250,000        $29,614,000
                                         ===========        ===========
                                          ----------         ----------
    Liabilities                           $2,177,000         $2,012,000
    Stockholders' Equity                  30,073,000         27,602,000
                                          ----------         ----------
    Total Liabilities and Equity         $32,250,000        $29,614,000
                                         ===========        ===========

SOURCE Mesa Laboratories, Inc.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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