Mesa Labs reports Q1 EPS 62c, consensus 44c

Reports Q1 revenue $58.17M, consensus $55.74M. “We had a successful start our first quarter of the fiscal year by delivering positive momentum for revenues, orders, profitability, and debt levels while also demonstrating continued strategic traction. Sales and marketing improvements resulted in 3.0% core organic growth in the quarter, with orders also improved as we built backlog in the quarter. Our process improvement and productivity initiatives bore fruit with strong increases in both gross profit percentage and AOI margin percentage when excluding unusual items. From a balance sheet perspective, we repaid $9.4 million in debt during the quarter which reduced our total Net Leverage Ratio* to 3.41. We remain committed to drive this ratio down below 3.0x” said Gary Owens, Chief Executive Officer of Mesa.