August 10, 2011
Profit Up By 25% At Acton Firm
Acton-based Psychemedics Corp., a provider of drug testing systems, said that investments in sales and marketing coupled with cost control measures led to higher revenues and profits in the second quarter.
The company reported income of $1.1 million for the quarter ending June 30, an increase of 26 percent over profits of $873,000 during the same quarter a year ago.
The company also said it brought in $6.2 million in revenues compared to $5.4 million during the second quarter last year, a 14.8-percent increase.
Psychemedics announced a quarterly dividend of 12 cents per share, which is the company's 60th consecutive dividend.
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