Mesa Labs (MLAB) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The upward trend in estimate revisions for this quality control instruments and disposable products maker reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation b ...

Mesa Labs (MLAB) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing e ...

LAKEWOOD, Colo., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB), a global leader in the design and manufacture of life science tools and critical quality control solutions, today announced results for its first fiscal quarter ("1Q25") ended June 30, 2024 (amounts in thousands). First quarter FY 2025 compared to first quarter FY 2024: Revenues increased 14.9% Non-GAAP core organic revenues1 growth was 3.0% Operating income increased 940% Non-GAAP adjusted operating income excluding u ...

Mesa is a global leader in the design and manufacture of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Mesa offers products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world. For more information about the Company, please visit its website at www.mesalabs.com Lakewood, Colo, July 08, 2024 (GLOBE NEWSWIRE) - ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Mesa Laboratories designs and manufactures life sciences tools and quality control solutions for regulated industries, focusing on organic growth, acquisitions, and operational efficiency - The company's business strategy is centered on **organic growth, acquisitions, and improving operating efficiency** through its proprietary lean-based system, "The Mesa Way"[18](index=18&type=chunk)[19](index=19&type=chunk)[21](index=21&type=chunk) - Mesa Laboratories operates and reports financial performance across **four main segments**: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions[22](index=22&type=chunk) - In fiscal year 2024, the company acquired GKE, a manufacturer of chemical sterilization indicators and biologics, to expand its **Sterilization and Disinfection Control division** in European and Asian healthcare markets[54](index=54&type=chunk) Backlog Information | Date | Backlog (approx.) | | :--- | :--- | | March 31, 2024 | $25.5 million | | March 31, 2023 | $38.1 million | - As of March 31, 2024, the company had **736 employees**, with a notable decrease in voluntary employee turnover of approximately **6.8 percentage points** compared to the previous fiscal year[72](index=72&type=chunk) [Our Segments](index=5&type=section&id=Our%20Segments) Mesa Laboratories operates through four distinct segments: Sterilization and Disinfection Control, Clinical Genomics, Biopharmaceutical Development, and Calibration Solutions - **Sterilization and Disinfection Control:** Manufactures biological, chemical, and cleaning indicators to assess sterilization and cleaning processes, expanded by the GKE acquisition in FY2024[23](index=23&type=chunk)[54](index=54&type=chunk) - **Clinical Genomics:** Develops and sells genetic analysis tools, including the MassARRAY® system and related consumables, with consumables representing about **70% of this segment's revenue**[29](index=29&type=chunk)[30](index=30&type=chunk)[33](index=33&type=chunk) - **Biopharmaceutical Development:** Provides automated systems for protein analysis (Gyrolab®) and peptide synthesis (PurePep®), with consumables at **42% of revenue** and hardware at **32%** in FY2024, reflecting softening capital equipment demand[35](index=35&type=chunk)[36](index=36&type=chunk)[38](index=38&type=chunk) - **Calibration Solutions:** Manufactures quality control products for measuring and calibrating critical parameters in various environments, including continuous monitoring systems, dialysate meters, data loggers, and gas flow calibrators[42](index=42&type=chunk) [Risk Factors](index=10&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from global economic conditions, intense competition, operational challenges, acquisition integration, and financial vulnerabilities including goodwill impairment and debt servicing - The business is sensitive to global economic conditions, which can reduce demand, increase price competition, and cause supply interruptions[81](index=81&type=chunk) - The company faces operational risks from potential cybersecurity breaches of its IT systems and manufacturing/supply chain disruptions, including reliance on sole or limited-source suppliers for certain components[93](index=93&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk) - A significant financial risk is the potential for additional impairment losses on goodwill and other intangible assets, with a **$274.5 million impairment** recorded in Q4 FY2024, particularly for Clinical Genomics and Biopharmaceutical Development divisions[130](index=130&type=chunk) - The company identified **three material weaknesses** in its internal control over financial reporting as of March 31, 2024, related to complex transactions, useful lives of acquired assets, and IT general controls, potentially leading to undetected material misstatements[133](index=133&type=chunk) - Servicing its debt, including the **1.375% convertible senior notes due 2025** and borrowings under its credit facility, requires significant cash flow and presents a financial risk[141](index=141&type=chunk)[142](index=142&type=chunk) [Cybersecurity](index=19&type=section&id=Item%201C.%20Cybersecurity) Mesa Laboratories maintains a comprehensive cybersecurity program overseen by the Audit Committee, managed by an experienced Information Security Manager, and guided by industry standards - The Board of Directors delegates cybersecurity risk oversight to the Audit Committee, which receives quarterly updates from management's Business Information Services team[149](index=149&type=chunk) - The cybersecurity program is led by an Information Security Manager with **over ten years of experience** and involves regular risk assessments, ongoing security testing, and vulnerability management processes supported by external vendors[150](index=150&type=chunk)[151](index=151&type=chunk) - To date, risks from cybersecurity threats have not materially affected the company's business strategy, results of operations, or financial condition, and the company maintains a cybersecurity insurance policy[154](index=154&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=20&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Mesa Laboratories' common stock trades on Nasdaq under 'MLAB,' with a history of quarterly dividends and an active share repurchase plan, though no repurchases occurred in recent fiscal years - The company's common stock trades on the Nasdaq Global Market under the ticker symbol **"MLAB"**[159](index=159&type=chunk) - Mesa has paid quarterly dividends since **2003** and anticipates continuing this practice[159](index=159&type=chunk) - A share repurchase plan allows for the repurchase of up to **300,000 common shares**, with **137,514 shares** remaining available as of March 31, 2024, and no shares repurchased during fiscal year 2024[162](index=162&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Mesa's FY2024 revenues decreased by **1%** to **$216.2 million**, with a **$254.2 million net loss** primarily due to a **$274.5 million goodwill impairment**, while liquidity remains sufficient post-debt refinancing Consolidated Financial Results (in thousands) | Metric | FY 2024 | FY 2023 | % Change | | :--- | :--- | :--- | :--- | | Revenues | $216,187 | $219,080 | (1%) | | Gross Profit | $133,250 | $133,693 | -% | | Operating (Loss) Income | ($272,075) | $3,320 | (8,295%) | | Net (Loss) Income | ($254,246) | $930 | (27,438%) | - The company recorded total impairment losses of **$274.5 million** in Q4 FY2024 related to goodwill and intangible assets in its Clinical Genomics and Biopharmaceutical Development divisions[180](index=180&type=chunk)[201](index=201&type=chunk) - Organic revenue growth was **negative 5.6%**, driven by declines in the Clinical Genomics (**-15.6%**) and Biopharmaceutical Development (**-14.3%**) segments, impacted by soft capital equipment demand and economic slowdowns in China[181](index=181&type=chunk)[177](index=177&type=chunk) - Subsequent to fiscal year-end, in April 2024, the company amended its credit facility to include a **$75 million term loan**, the proceeds of which were used to repurchase **$75 million** in principal of its 2025 Convertible Senior Notes[213](index=213&type=chunk)[399](index=399&type=chunk) [Results of Operations by Segment](index=23&type=section&id=Results%20of%20Operations%20by%20Segment) Segment performance in FY2024 showed growth in Sterilization and Disinfection Control and Calibration Solutions, offset by declines in Clinical Genomics and Biopharmaceutical Development due to market headwinds FY 2024 Segment Performance vs. FY 2023 | Segment | Revenues (M) | Revenue Growth | Organic Growth | Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | | Sterilization & Disinfection Control | $75.1 | 16% | 1.9% | 71% | | Clinical Genomics | $52.6 | (16%) | (15.6%) | 51% | | Biopharmaceutical Development | $40.7 | (14%) | (14.3%) | 62% | | Calibration Solutions | $47.8 | 7% | 6.6% | 58% | - **Sterilization and Disinfection Control:** Revenue growth was primarily driven by the GKE acquisition, which contributed **$9.3 million** in revenue[184](index=184&type=chunk) - **Clinical Genomics:** Revenue decline was largely due to the loss of customer Sema4 in Q3 FY2023 and China's economic slowdown[187](index=187&type=chunk) - **Biopharmaceutical Development:** Revenue decrease was caused by continued soft demand for capital equipment in the biopharmaceutical industry[190](index=190&type=chunk) - **Calibration Solutions:** Revenue increased as production difficulties and supply constraints from the prior year abated, allowing for a return to normal operations[193](index=193&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Mesa's liquidity as of March 31, 2024, included **$28.2 million** in cash and **$65.0 million** in working capital, with a post-year-end debt refinancing to repurchase 2025 Convertible Notes Key Liquidity Metrics (as of March 31) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $28,214 | $32,910 | | Working capital | $65,040 | $75,616 | | Cash from operating activities (FY) | $44,133 | $27,983 | - As of March 31, 2024, the company had **$172.5 million** in principal outstanding under its 2025 Convertible Notes and **$50.5 million** outstanding under its Credit Facility[212](index=212&type=chunk) - In April 2024, the company used proceeds from a new **$75 million term loan** to repurchase **$75 million** of its 2025 Notes for a cash price of **$71.4 million**[213](index=213&type=chunk) [Critical Accounting Policies and Estimates](index=28&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Key critical accounting estimates include purchase accounting, goodwill and intangible asset impairment testing, stock-based compensation, and income taxes, with heightened risk of future impairment for Clinical Genomics and Biopharmaceutical Development - Key critical accounting estimates include purchase accounting for acquisitions, impairment testing for goodwill and intangible assets, stock-based compensation, and income taxes[221](index=221&type=chunk) - The company tests goodwill for impairment annually on January 1st or more frequently if indicators are present, with Clinical Genomics and Biopharmaceutical Development divisions having a heightened risk of future impairment losses post-FY2024 impairment[224](index=224&type=chunk)[226](index=226&type=chunk)[227](index=227&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Mesa Laboratories is exposed to market risks from foreign currency exchange rates, interest rates, and inflation, with interest rate risk increasing post-year-end due to new variable-rate debt - The company faces foreign currency exchange rate risk, particularly in its Biopharmaceutical Development division, which incurs expenses in Swedish Krona while generating revenue in U.S. dollars and euros[234](index=234&type=chunk) - Interest rate risk is present due to variable-rate debt under the Credit Facility, with a hypothetical **1 percentage point increase** adding approximately **$505,000** in annual interest expense, further increased by a new **$75 million term loan** post-year-end[236](index=236&type=chunk) - Inflation risk is managed by passing cost increases for labor, materials, and freight to customers through annual price increases, though this may impact sales volume[237](index=237&type=chunk) [Financial Statements and Supplementary Data](index=30&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents Mesa's audited consolidated financial statements for FY2024, including an adverse opinion on internal controls, a **$254.2 million net loss**, and a **$274.5 million impairment** charge - The independent auditor's report expressed an **adverse opinion** on the company's internal control over financial reporting as of March 31, 2024, due to **three material weaknesses** related to complex transactions, useful lives of acquired assets, and IT general controls[256](index=256&type=chunk)[259](index=259&type=chunk) Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2024 | March 31, 2023 | | :--- | :--- | :--- | | Total Assets | $446,796 | $661,832 | | Goodwill | $180,096 | $286,444 | | Total Liabilities | $301,403 | $268,352 | | Total Stockholders' Equity | $145,393 | $393,480 | - The company acquired GKE for total consideration of **$87.2 million**, adding **$48.9 million** in goodwill and **$44.1 million** in intangible assets to the Sterilization and Disinfection Control segment[368](index=368&type=chunk)[370](index=370&type=chunk) - Total impairment losses of **$274.5 million** were recorded in FY2024, consisting of **$156.9 million** for goodwill and **$117.6 million** for finite-lived intangible assets, primarily within the Clinical Genomics and Biopharmaceutical Development segments[384](index=384&type=chunk)[387](index=387&type=chunk) - Subsequent to year-end, on April 11, 2024, the company repurchased **$75 million** of its 2025 Notes for approximately **$71.3 million** in cash, funded by a new **$75 million term loan**[440](index=440&type=chunk)[441](index=441&type=chunk) [Controls and Procedures](index=59&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were ineffective as of March 31, 2024, due to **three material weaknesses**, with remediation plans underway - Management concluded that disclosure controls and procedures were **not effective** as of March 31, 2024[444](index=444&type=chunk) - A material weakness was identified in the design of controls over accounting for complex and non-routine transactions, specifically goodwill impairment and acquisitions[449](index=449&type=chunk) - A material weakness was identified in the design of controls for determining the useful lives of recently acquired intangibles, related to the GKE acquisition's customer relationships[450](index=450&type=chunk) - A material weakness was identified due to ineffective IT general controls (change management and logical access) for the company's ERP system for a portion of the fiscal year[451](index=451&type=chunk) - Remediation plans are underway, which include engaging third-party advisors for complex accounting, modifying the useful life of the GKE intangible asset, and enhancing IT control designs and reviews[452](index=452&type=chunk)[453](index=453&type=chunk)[454](index=454&type=chunk) Part III [Directors, Executive Compensation, Security Ownership, and Principal Accountant Fees](index=63&type=section&id=Items%2010%2C%2011%2C%2012%2C%2013%2C%20and%2014) Information for Items 10-14, covering directors, executive compensation, security ownership, and principal accountant fees, is incorporated by reference from the forthcoming 2024 Proxy Statement - Details regarding directors, executive officers, corporate governance, executive compensation, security ownership, and principal accountant fees are incorporated by reference from the forthcoming 2024 Proxy Statement[468](index=468&type=chunk)[469](index=469&type=chunk)[472](index=472&type=chunk)[474](index=474&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=64&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists financial statements and exhibits filed with the Form 10-K, with all financial statement schedules omitted as the information is included in the notes - This section contains a list of all financial statements and exhibits filed with the Form 10-K, with all required financial statements located in Part II, Item 8[476](index=476&type=chunk) - All financial statement schedules have been omitted because they are either not applicable or the necessary information is already disclosed in the Notes to Consolidated Financial Statements[476](index=476&type=chunk)

Executive Summary Mesa Labs achieved strategic milestones, reported mixed financial results with significant impairment charges, and outlined future growth initiatives [Strategic Highlights](index=1&type=section&id=Strategic%20Highlights) Mesa Labs achieved several strategic milestones in 4Q24, including the acquisition of GKE China, expansion of its credit facility to repurchase convertible notes, restructuring within the Clinical Genomics division, and a significant reduction in inventory - Closed the acquisition of the **GKE China** entity on **December 31, 2023**[4](index=4&type=chunk) - Extended and expanded the bank credit facility to **$200 million**, enabling the repurchase of **$75 million (43%)** of outstanding 2025 Convertible Notes[4](index=4&type=chunk) - Executed a **restructuring** in the **Clinical Genomics** division to align cost structure with revenue headwinds[4](index=4&type=chunk) - Reduced inventory (excluding GKE) by **19.4%** versus **FY23** due to improved procurement and normalized supply chain[4](index=4&type=chunk) [Financial Performance Overview (4Q24 & FY24)](index=1&type=section&id=Financial%20Performance%20Overview%20(4Q24%20%26%20FY24)) Mesa Labs reported a 6.0% revenue increase in 4Q24, driven by the GKE acquisition, despite a 3.5% core organic decline. For the full FY24, revenues decreased by 1.3% with a 5.4% core organic decline, largely due to headwinds in Biopharmaceutical Development and Clinical Genomics. Both periods saw significant operating losses due to a non-cash impairment charge Key Financial Highlights (4Q24 vs 4Q23) | Metric | 4Q24 | Change vs 4Q23 | | :------------------------------------- | :--------- | :--------------- | | Revenues | $58,904 | +6.0% | | Non-GAAP core organic revenues | - | -3.5% | | Operating (loss) | $(271,284) | N/A (included $274,533 impairment) | | Non-GAAP adjusted operating income excluding unusual items | - | +26.3% | | Non-GAAP adjusted operating income excluding unusual items (% of revenues) | 25.4% | N/A | Key Financial Highlights (FY24 vs FY23) | Metric | FY24 | Change vs FY23 | | :------------------------------------- | :--------- | :--------------- | | Revenues | $216,187 | -1.3% | | Non-GAAP core organic revenues | - | -5.4% | | Operating (loss) | $(272,075) | N/A (included $274,533 impairment) | | Non-GAAP adjusted operating income excluding unusual items | - | +0.7% | | Non-GAAP adjusted operating income excluding unusual items (% of revenues) | 23.4% | +50 bps | | Net (loss) per diluted share | $(47.20) | N/A | [Profitability & Outlook](index=2&type=section&id=Profitability%20%26%20Outlook) Non-GAAP adjusted operating income (excluding unusual items) increased significantly in 4Q24 and slightly for the full year, driven by the GKE acquisition and cost control efforts. Looking ahead, Mesa Labs plans to deepen its presence in Asia Pacific, realize GKE synergies, and adapt its Clinical Genomics strategy to new FDA regulations, while maintaining a bias for organic growth - **AOI excluding unusual items** increased **26.3%** to **$14.9 million** in **4Q24** and **0.7%** to **$50.5 million** for **FY24**, with its percentage of revenues expanding by **50 bps** for the full year[8](index=8&type=chunk)[11](index=11&type=chunk)[13](index=13&type=chunk) - Profit growth was primarily due to the **GKE acquisition**, offset by **lower sales volumes** and **increased labor expenses**, mitigated by **cost control**, **lower variable compensation**, and **increased prices**[8](index=8&type=chunk) - Key initiatives include **deepening presence in Asia Pacific**, **realizing GKE synergies**, and **refining CG business strategy** due to changes in **FDA regulations for lab developed tests**[9](index=9&type=chunk) - Company remains biased for **organic growth**, expanding **sales and marketing** by **80 bps** as a percentage of revenues while also expanding **AOI excluding unusual items percentages**[9](index=9&type=chunk) Financial Results (GAAP & Non-GAAP) Mesa Labs reported increased 4Q24 revenues but a full-year decline, with both periods showing significant operating and net losses primarily due to a substantial non-cash impairment charge [Fourth Quarter Fiscal Year 2024](index=2&type=section&id=Fourth%20Quarter%20Fiscal%20Year%202024) In 4Q24, Mesa Labs reported total revenues of $58,904 thousand, a 6% increase year-over-year. However, the company recorded a significant operating loss of $(271,284) thousand and a net loss of $(254,583) thousand, or $(47.20) per diluted share, primarily due to a $274,533 thousand non-cash impairment charge. Non-GAAP core organic revenues decreased by 3.5% 4Q24 GAAP Financials | Metric | Amount (in thousands) | | :-------------------------- | :-------------------- | | Total Revenues | $58,904 | | Operating (loss) | $(271,284) | | Net (loss) | $(254,583) | | (Loss) per diluted share | $(47.20) | | Non-cash impairment charge | $274,533 | 4Q24 Non-GAAP Financials | Metric | Amount (in thousands) | Change vs 4Q23 | | :------------------------------------- | :-------------------- | :--------------- | | Core organic revenues | - | -3.5% | | AOI | $12,336 | +6.7% | | AOI per diluted share | $2.29 | - | | AOI excluding unusual items | $14,938 | +26.3% | [Full Fiscal Year 2024](index=2&type=section&id=Full%20Fiscal%20Year%202024) For the full fiscal year 2024, total revenues were $216,187 thousand, a 1.3% decrease compared to FY23. Similar to the quarter, the company reported a substantial operating loss of $(272,075) thousand and a net loss of $(254,246) thousand, or $(47.20) per diluted share, primarily due to the same $274,533 thousand non-cash impairment charge. Non-GAAP core organic revenues declined by 5.4% FY24 GAAP Financials | Metric | Amount (in thousands) | | :-------------------------- | :-------------------- | | Total Revenues | $216,187 | | Operating (loss) | $(272,075) | | Net (loss) | $(254,246) | | (Loss) per diluted share | $(47.20) | | Non-cash impairment charge | $274,533 | FY24 Non-GAAP Financials | Metric | Amount (in thousands) | Change vs FY23 | | :------------------------------------- | :-------------------- | :--------------- | | Core organic revenues | - | -5.4% | | AOI | $45,968 | -6.2% | | AOI per diluted share | $8.53 | - | | AOI excluding unusual items | $50,505 | +0.7% | Division Performance Mesa Labs' divisions showed mixed performance, with SDC and CS achieving organic growth, while BPD and CG faced declines and significant impairment charges due to market headwinds and restructuring [Division Performance Overview](index=3&type=section&id=Division%20Performance%20Overview) Mesa Labs operates in four divisions: Sterilization and Disinfection Control (SDC), Clinical Genomics (CG), Biopharmaceutical Development (BPD), and Calibration Solutions (CS). The overall core organic revenues for total reportable segments decreased by 3.5% in 4Q24 and 5.4% for FY24 Division Revenues and Core Organic Growth (4Q24 & FY24) | Division | 4Q24 Revenues (in thousands) | FY24 Revenues (in thousands) | 4Q24 Core Organic Growth | FY24 Core Organic Growth | | :--------------------------------- | :--------------------------- | :--------------------------- | :----------------------- | :----------------------- | | SDC | $22,779 | $75,124 | 4.2% | 0.6% | | CG | $11,124 | $52,588 | (18.1)% | (14.2)% | | BPD | $12,186 | $40,712 | (2.6)% | (13.4)% | | CS | $12,815 | $47,763 | 1.4% | 6.6% | | **Total reportable segments** | **$58,904** | **$216,187** | **(3.5)%** | **(5.4)%** | [Sterilization and Disinfection Control (SDC)](index=3&type=section&id=Sterilization%20and%20Disinfection%20Control%20(SDC)) SDC, representing 39% of 4Q24 revenues, reported $22,779 thousand in revenues for the quarter, with core organic growth of 4.2%. The GKE acquisition significantly boosted overall quarterly growth to 37.3%. Gross profit percentage contracted due to non-cash inventory step-up charges from GKE, but would have expanded absent these charges - **SDC revenues** were **$22.8 million** in **4Q24**, representing **39%** of **total revenues**[14](index=14&type=chunk) - **Core organic revenues growth** was **4.2%** for **4Q24** and **0.6%** for **FY24**[14](index=14&type=chunk) - The **GKE acquisition** drove **overall quarterly growth** to **37.3%** and **full-year growth** to **16.3%**, with GKE revenues trending slightly above expectations[14](index=14&type=chunk) - **Gross profit percentage contracted** by **49

LAKEWOOD, Colo., June 05, 2024 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB), a global leader in the design and manufacture of life science tools and critical quality control solutions, today announced results for its fourth fiscal quarter ("4Q24") and fiscal year ("FY24") ended March 31, 2024 (amounts in thousands). Fourth quarter FY24 compared to fourth quarter FY23: Full FY24 compared to full FY23: We operate our business in four divisions: Sterilization and Disinfection Control ("SDC"), Clin ...

Full FY24 compared to full FY23: We operate our business in four divisions: Sterilization and Disinfection Control ("SDC"), Clinical Genomics ("CG"), Biopharmaceutical Development ("BPD"), and Calibration Solutions ("CS"). Effective 4Q24 we changed our definition of non-GAAP adjusted operating income3 ("AOI") and non-GAAP adjusted operating income excluding unusual items to also exclude depreciation expense. Please see the reconciliation of those measures to GAAP operating (loss) income below. All prior per ...

LAKEWOOD, Colo., May 31, 2024 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. ("Mesa") (NASDAQ:MLAB) will not issue its 2024 financial results for the fourth quarter and the fiscal year ending March 31, 2024 today as previously communicated. The earnings announcement has been delayed as we work to finalize our year end audit which is focused on finalizing the calculations and technical accounting for previously-announced impairments of long-lived assets and goodwill related to our Clinical Genomics and Biopharm ...

LAKEWOOD, Colo., May 31, 2024 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. ("Mesa") (NASDAQ:MLAB) will not issue its 2024 financial results for the fourth quarter and the fiscal year ending March 31, 2024 today as previously communicated. The earnings announcement has been delayed as we work to finalize our year end audit which is focused on finalizing the calculations and technical accounting for previously-announced impairments of long-lived assets and goodwill related to our Clinical Genomics and Biopharm ...