Mesa Labs reports Q3 adjusted EPS $1.91 vs $2.88 last year

Reports Q3 revenue $53.165M vs $58.749M last year. “Second quarter performance was lower than the previous year, as expected, due to sluggish capital equipment orders in the biopharmaceutical vertical and the previously announced customer loss of Sema4 in our Clinical Genomics division early in 3Q23 but was better than the first quarter for both revenues and AOI excluding unusual items. Total revenues for the second quarter were $53,165, which resulted in an organic revenue decline of 9.6% versus the same quarter in the prior year, or a 5.0% sequential increase when compared to the first quarter of the current fiscal year. Specifically, decreases in hardware and software revenues in our Biopharmaceutical Development division and the lost Sema4 revenue accounted for the substantial majority of the company wide decline seen in the current quarter. Core organic revenues, which excludes the impact of currency and COVID related revenues, declined 10.1% in the quarter as the USD/EUR exchange rate peaked in our second quarter last fiscal year” said Gary Owens, Chief Executive Officer of Mesa Labs.