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Mesa Laboratories 4Q profit little changed

LAKEWOOD, Colo. (AP) -- Testing instrument maker Mesa Laboratories Inc. said Wednesday its profit was little changed in the fiscal fourth quarter as a one-time charge offset the impact of an increase in revenue.

In the three months ended March 31, Mesa said its net income amounted to $2.2 million, or 62 cents per share, versus $2.18 million, or 64 cents a share, a year ago. The latest per-share figure fell because it had more shares outstanding than it did a year ago.

Excluding a one-time impairment charge related to an acquisition and other items, Mesa Labs said its profit totaled 76 cents per share.

Revenue edged up to $10.5 million from $10 million. The company said its instrument product and service revenue rose 5 percent and biological indicator revenue rose 6 percent.

For the fiscal year, Mesa said its net income rose to $7.9 million, or $2.29 per share, from $6.2 million, or $1.86 per share, a year earlier. Its annual revenue grew to almost $38 million from $32.9 million.

Shares of Mesa Laboratories slipped 31 cents to $47.25 in midday trading. They have fallen 20 percent since their 52-week high of $59.11 per share in early March.