Psychemedics Corp., an Acton-based drug testing company, reported first quarter net income of $1.03 million on revenue of $5.7 million.
Revenue for the quarter was up 13 percent over the same period a year ago. Net income was up 12 percent.
The company said it would increase its quarterly dividend by 20 percent to $0.15 per share.
The first quarter was the 43rd consecutive quarter during which the company has issued a dividend.
The dividend will be paid June 22.
Psychemedics provides hair testing for drugs. The company said thousands of corporations and government agencies rely on Psychemedics for drug testing services.
