secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001171843-23-003111
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics Q1 revenue down 10% to $5.9M, net loss of $384K; declares $0.07 dividend
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- Net loss of $384K ($0.07 diluted loss) vs net income of $39K ($0.01 diluted) in Q1 2022.
- Revenue fell 10% to $5.9M from $6.5M, driven by labor shortage and inflationary pressures.
- Gross margin held flat at 38% due to cost reductions implemented in Q4 2022.
- Cash balance $4.4M, equipment financing $0.5M; dividend of $0.07/share payable June 8 to record May 25.
- Oil & Gas, Railroad, School segments performed solidly; fentanyl and benzodiazepine add-on test sales grew.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184323003111/0001171843-23-003111-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184323003111/f8k_050923.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-003111

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