Mesa Laboratories, Inc. (NASDAQ:MLAB) today announced results for the third quarter ended December 31, 2020.
Revenues for 3Q21 increased 8% to $34,172 while operating loss increased to $22 from $3,255 for the quarters ended December 31, 2020 and 2019, respectively. Net loss was $4,542, a decrease of 1% or $0.89 per diluted share of common stock as compared to the same quarter in the prior year.
As detailed in the Unusual Items table below, operating income for 3Q21 and 3Q20 was impacted by unusual items totaling $2,727 and $8,636, respectively. Excluding unusual items in both quarters, operating income would have decreased by 49% to $2,749 as compared to the same quarter in the prior.
Total revenues for the quarter, excluding the Cold Chain Packaging division (which we exited during 3Q20), increased 9% while organic revenues increased 1% as compared to the prior year. Total revenues also increased 7% sequentially vs 2Q21.
On a non-GAAP basis, in comparison to the same quarter in the prior year, 3Q21 adjusted operating income increased 162% to $7,461 or $1.46 per diluted share of common stock.
Said CEO Gary Owens, "During the third quarter we continued to improve our ability to support our vital customers in healthcare services, medical devices, biopharmaceuticals, and other safety related verticals. We are honored to be a small contributor to their ability to deliver solutions that mitigate the health impact of COVID-19."
MLAB shares faded $2.83, or nearly 1%, to begin Monday and the week at $284.77.
