February 14, 2007
Quarterly profit at Psychemedics climbs 28%
By Christina Davis
Fourth-quarter profit at Acton-based Psychemedics Corp. increased 28 percent to nearly $1.2 million.
Full-year results were similarly strong for the company, which markets drug tests that use hair samples. During 2006, Psychemedics profit grew 21 percent to more than $4.9 million.
Raymond C. Kubaki, chairman and CEO, said in a press release that the company set records for revenue and net income for both the fourth quarter and the full year.
He added that the company is "well-positioned for substantial growth in the future."
Full-year results were similarly strong for the company, which markets drug tests that use hair samples. During 2006, Psychemedics profit grew 21 percent to more than $4.9 million.
Raymond C. Kubaki, chairman and CEO, said in a press release that the company set records for revenue and net income for both the fourth quarter and the full year.
He added that the company is "well-positioned for substantial growth in the future."
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