Psychemedics Corp. (NYSE:PMD) shares are down about 2 percent, paring earlier losses after the drug-testing firm turning in smaller fourth-quarter profits despite a 19.7 percent jump in Q4 revenues.
Psychemedics Corp.
Psychemedics increases Q4 profits despite sales slip
Psychemedics Corp. (NSDQ:PMD) posted fourth-quarter sales of $4.3 million for the three months ended Dec. 31, 2009, down 11.5 percent compared with $4.8 million during the same period in 2008. Net income rose 216 percent to $546,000, compared with $173,000 during Q4 2008: