Mocon Posts Q2 Profit - Quick Facts

(RTTNews) - Mocon Inc. (MOCO) reported that net income for the second quarter was $802,000, or $0.14 per share, compared to a net loss of $142,000 or $0.03 per share in the second quarter of 2012.

The company-wide gross margin of 56 percent in the second quarter 2013 was slightly lower than the company's historical levels, although was an improvement from the prior year second quarter margin of 48 percent. The lower than expected percentage in the current quarter was due primarily to a shift in product mix to a higher percentage of our package testing instruments, which traditionally carry lower margins. The lower than normal margin in the prior year second quarter was due to purchase accounting adjustments that were required in connection with the Dansensor acquisition.

Total sales for the quarter were $13.7 million, an increase of 4 percent compared to $13.2 million for the same quarter in 2012.

The sales increase in the latest-quarter compared to the same quarter in 2012 was attributable primarily to our Industrial Analyzers and Other segment, which recorded a 23 percent increase in revenues. This increase was driven by sales of environmental monitoring instruments due to increased regulatory concerns and sales of instruments for oil and gas exploration, primarily in the Middle East. Sales in Permeation and Package Testing segments were comparable to the prior year second quarter.