Mesa Laboratories, Inc. (MLAB) has reported 25.22 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $3.25 million, or $0.84 a share in the quarter, compared with $2.60 million, or $0.69 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $4.62 million, or $1.19 a share compared with $3.80 million or $1 a share, a year ago.

Revenue during the quarter grew 19.74 percent to $23.84 million from $19.91 million in the previous year period. Gross margin for the quarter contracted 454 basis points over the previous year period to 56.78 percent. Total expenses were 81.60 percent of quarterly revenues, up from 80.76 percent for the same period last year. That has resulted in a contraction of 85 basis points in operating margin to 18.40 percent.

Operating income for the quarter was $4.39 million, compared with $3.83 million in the previous year period.

"Mesa posted excellent results for the third quarter of fiscal 2017, with all four of our divisions exhibiting significant growth over the same quarter last year," said John J. Sullivan, president and chief executive officer. "Combined, our two largest divisions, Instruments and Biological Indicators (BI), grew by 14 percent, although this is a somewhat unfair comparison, as we reported approximately $500,000 in delayed shipments during the third quarter last year."