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Mesa Laboratories Inc. (MLAB+3.68%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $62,840,000 from $53,473,000 in the same quarter the previous year. This increase is attributed to the acquisition of GKE and organic growth in several divisions.
Gross profit for the quarter was $39,754,000, compared to $33,402,000 in the previous year, with the increase attributed to higher revenues and lower intangible asset amortization.
Operating expenses for the quarter were $33,975,000, up slightly from $33,469,000 in the previous year, primarily due to higher performance-based compensation expenses.
The company reported an operating income of $5,779,000 for the quarter, compared to an operating loss of $67,000 in the previous year.
Interest expense and amortization of debt issuance costs increased to $2,842,000 from $1,856,000, due to refinancing activities related to the company's credit facility.
Net loss for the quarter was $1,676,000, compared to a net income of $2,116,000 in the previous year. The loss is attributed to higher interest expenses and foreign currency losses.
Cash provided by operating activities was $34,143,000 for the nine months ended December 31, 2024, compared to $31,250,000 in the previous year.
Mesa Laboratories had a working capital of $(45,033,000) as of December 31, 2024, impacted by the classification of convertible notes as current liabilities.
The filing also details the company's acquisition of GKE, which contributed $18,971,000 to revenues in the nine months ended December 31, 2024.
The company continues to focus on expanding its product offerings and improving operational efficiencies through the Mesa Way system.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mesa Laboratories Inc. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.