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Mesa Laboratories profit misses consensus by 39.5% in fiscal Q3

Mesa Laboratories Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 57 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS declined 9.6% year over year from 64 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.2 million, a decline of 7.1% from $2.3 million in the prior-year period.

The normalized profit margin dropped to 10.8% from 13.0% in the year-earlier period.

Total revenue grew 11.7% year over year to $19.9 million from $17.8 million, and total operating expenses rose 13.9% on an annual basis to $16.1 million from $14.1 million.

Reported net income fell from the prior-year period to $2.4 million, or 63 cents per share, from $2.4 million, or 66 cents per share.