Instrument maker Mocon reports 67% earnings drop

  • Article by: Star Tribune
  • Updated: November 7, 2012 - 7:52 PM

The Minneapolis maker of laboratory instruments, cited a decline in product sales and the costs of an acquisition.

Mocon Inc., a Minneapolis maker of laboratory instruments for research and quality control, Wednesday reported a 67 percent drop in third-quarter earnings to $493,000, or 9 cents a share.

A 30 percent increase in revenue, to $12.3 million, was largely due to the April acquisition of PBI-Dansensor A/S that added $4.2 million to sales, the company said.

The company said its gross profit margin was hurt by lower product sales and the costs related to the acquisition.

After the earnings announcement, Mocon stock fell 4 cents a share, or 0.2 percent, to close at $14.91.

STEVE ALEXANDER

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

 
Close