Psychemedics Q1 revenue up 14% to $6.5M; declares increased dividend of $0.07/share

PSYCHEMEDICS CORP

2022-Q1 EPS reported $0.01 revenue$6,508,000

Revenue $6.5M vs $5.7M (+14% YoY); domestic revenue up 17%, international down 42%.
Net income $39k ($0.01 diluted EPS) vs $83k; prior year included $800k ERC benefit.
Declares cash dividend of $0.07/share, payable June 24, 2022, to holders of record May 27, 2022.
Cash $2.1M, working capital $5.2M; equipment financing $1.1M, repaid $11.1M since May 2014.
Strategic alternatives review ongoing; CEO cites momentum in oil/gas, transport, and manufacturing.

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