MEDTOX continues to tank
Shares of MEDTOX Scientific Inc. (Nasdaq: MTOX) continued to plummet Tuesday after the laboratory testing services company reported earnings one penny below analysts’ consensus.
For the three months ended June 30, the St. Paul, Minn.-based company booked net income of $1.76 million, or $0.20 per diluted share, compared with net income of $1.28 million, or $0.15 per diluted share, for the second quarter of 2006.
Two analysts surveyed by Thomson Financial expected earnings per share of $0.21 for the second quarter.
Medtox booked revenues of $20.7 million, compared with $17.4 million from the prior-year period. Two analysts surveyed by Thomson Financial expected revenues of $20.37 million.
Shares of MEDTOX tumbled 19.58%, or $5.29, to $21.37 Monday afternoon.
