May 3, 2007
Hair-raising profits
By Matthew L. Brown
Psychemedics Corp., an Acton-based drug testing company, reported first quarter net income of $1.03 million on revenue of $5.7 million.
Revenue for the quarter was up 13 percent over the same period a year ago. Net income was up 12 percent.
The company said it would increase its quarterly dividend by 20 percent to $0.15 per share.
The first quarter was the 43rd consecutive quarter during which the company has issued a dividend.
The dividend will be paid June 22.
Psychemedics provides hair testing for drugs. The company said thousands of corporations and government agencies rely on Psychemedics for drug testing services.
Revenue for the quarter was up 13 percent over the same period a year ago. Net income was up 12 percent.
The company said it would increase its quarterly dividend by 20 percent to $0.15 per share.
The first quarter was the 43rd consecutive quarter during which the company has issued a dividend.
The dividend will be paid June 22.
Psychemedics provides hair testing for drugs. The company said thousands of corporations and government agencies rely on Psychemedics for drug testing services.
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