Psychemedics Q2 2022 revenue up 7% to $6.5M; net loss $0.3M vs net income $0.1M YoY

PSYCHEMEDICS CORP

2022-Q2 EPS reported -$0.05 revenue$13,021,000

Revenue $6.5M for Q2 2022, up 7% from $6.1M in Q2 2021; domestic revenue up 13% but Brazil down 65%.
Net loss of $0.3M ($0.06 diluted EPS) vs net income of $0.1M ($0.02 EPS) YoY; prior-year quarter had $0.8M ERC benefit.
Declared quarterly dividend of $0.07/share, payable Sept 9, 2022 to holders of record Aug 24, 2022.
Cash $1.8M and working capital $5.6M as of June 30, 2022; equipment financing down to $0.9M from $12.2M borrowed.
Continuing review of strategic alternatives; no assurance of any transaction or outcome.

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