U.S. Markets closed

Psychemedics posts 1Q profit

ACTON, Mass. (AP) _ Psychemedics Corp. (PMD) on Tuesday reported first-quarter net income of $1.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Acton, Massachusetts-based company said it had profit of 27 cents.

The drug testing company posted revenue of $10.2 million in the period.

Psychemedics shares have decreased 16 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.62, an increase of 43 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PMD at https://www.zacks.com/ap/PMD

_____

Keywords: Psychemedics, Earnings Report