Medtox Scientific down after missing Q3 revenue estimates
Medtox Scientific, Inc. (Nasdaq: MTOX) shares are sagging after the medical products seller and provider of medical services announced before the opening that its third-quarter revenue rose to $20.8 million, below analyst estimates of $21.5 million and from $18.7 million a year earlier. The firm’s net income surged 31% to $1.9 million, or $0.22 per share, above Wall Street estimates of $0.21 per share from $1.5 million, or $0.17 per share, during the same period of 2006.
The firm’s laboratory services segment’s revenue increased to $15.7 million, versus $14.7 million in the prior-year quarter. Revenue for the product sales segment increased to $5 million, from $4 million a year earlier.
In afternoon trading, MTOX shares are down 4.78%, or $0.97, at $19.33. Over the last 52 weeks, shares have ranged from $9.91 to $31.63.
