secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2021-08-10T23:59:59+00:00
Accession:  0001171843-21-005791
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics Q2 2021 revenue up 85% to $6.1M, swings to net income of $0.1M
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- Revenue $6.1M vs $3.3M in Q2 2020 (+85%); net income $0.1M ($0.02 EPS) vs net loss $2.1M (-$0.37).
- Domestic revenue up ~80%, driven by Oil & Gas, Manufacturing, Transportation segments; international revenue up 153% on small base.
- Recorded $0.8M employee retention tax credit (ERC) under CAA; expects eligibility for Q3 and Q4 2021.
- PPP loan of $2.2M fully forgiven by SBA in July 2021; cash $2.7M, working capital $7.1M as of June 30.
- Dividend remained suspended since Q1 2020; board continues to evaluate quarterly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184321005791/0001171843-21-005791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184321005791/f8k_081021.htm
  HTML page:      https://secwatch.observer/filing/0001171843-21-005791

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer