Exhibit 99.1

 

Mesa Labs Reports Fourth Quarter and Full Fiscal Year Results

 

Lakewood, Colorado, June 1, 2021 – Mesa Laboratories, Inc. (NASDAQ:MLAB) today announced results for the fourth quarter (“4Q21”) and full year ended March 31, 2021 (“FY21”).

 

Financial highlights for the quarter and year ended March 31, 2021 as compared to last year:

 

Revenues increased 11% and 14%, respectively

 

Operating income increased 318% and 56%, respectively

 

Non-GAAP adjusted operating income1 excluding unusual items increased 14% and 12%, respectively

 

Financial Results (amounts in thousands, except per share data)

 

In comparison to the same quarter in the prior year, 4Q21 revenues increased 11% to $37,964, operating income increased 318% to $4,296 and net income was $3,920, an increase of 353% or $0.74 per diluted share of common stock. As detailed in the Unusual Items table below, operating income for 4Q21 and the fourth quarter of the previous year (“4Q20”) was impacted by unusual items totaling $408 and $1,973 respectively.

 

For FY21, in comparison to the prior year, revenues increased 14% to $133,937, operating income increased 56% to $12,358, and net income was $3,274, an increase of 84% or $0.64 per diluted share of common stock. As detailed in the Unusual Items table below, operating income for FY21 and FY20 was impacted by unusual items totaling $3,399 and $10,649, respectively.

 

Total revenues for 4Q21, excluding the Cold Chain Packaging division (which we exited during 3Q20) increased 11% while organic revenues also increased 11% as compared to the prior year. Total revenues also increased 11% sequentially as compared to 3Q21. Total revenues, excluding the Cold Chain Packaging Division increased 16% for the year ended March 31, 2021 while organic revenues increased 1% year over year.

 

On a non-GAAP basis, in comparison to the same quarter in the prior year, 4Q21 adjusted operating income (“AOI”) increased 75% to $10,496 or $1.98 per diluted share of common stock. In comparison to the prior year, AOI for FY21 increased 48% to $36,139 or $7.05 per diluted share of common stock. As detailed in the Unusual Items table below, AOI for both 4Q21 and FY21 was impacted by unusual items totaling $408 and $2,114, respectively, while AOI for 4Q20 and FY20 was impacted by unusual items totaling $3,567 and $9,901, respectively. Excluding the unusual items for all periods in both years, AOI would have increased 14% to $10,904 and 12% to $38,253 for 4Q21 and FY21, respectively.

 

 

The following information was filed by Mesa Laboratories Inc Co (MLAB) on Tuesday, June 1, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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