Psychemedics

Acton drug testing firm Psychemedics' third-quarter net profit fell by 50 percent compared to last year's Q3, the company announced Wednesday.

Acton drug testing firm Psychemedics has launched a hair test for benzodiazepines, the company announced Tuesday.

Acton drug detection laboratory Psychemedics is beginning to offer testing for employers to detect for synthetic marijuana.

Psychemedics, an Acton drug-testing company, had flat revenue growth in the second quarter and saw profits fall by nearly half.

Psychemedics, an Acton drug-testing company, saw revenue jump by more than 50 percent in the first quarter, driving profits to $1.5 million.

Revenues at Psychemedics, a hair-based drug testing company, grew by 45 percent for the full year 2016, and by 75 percent in the fourth quarter compared to the same time period in 2015.

Thanks to growth in the Brazilian market, employment drug testing company Psychemedics reported a 240-percent increase in net income over the same period last year.

Citing spotty hiring and a delay in a Brazilian drug-testing law, Pschemedics Corp. of Acton said net income for the second quarter declined 71 percent, to $252,000, or 5 cents a share. It was $857,000, or 16 cents per share, in the year-earlier quarter.

Acton-based employment drug testing company Psychemedics Corp. Monday reported a profit of 5 cents per share on net income of $278,000 in the first quarter, which ended March 31. The company also reported promising business prospects because of recently passed regulations in Brazil.

Acton-based employment drug testing company Psychemedics Corp. (NASDAQ: PMD) boosted revenue in fiscal 2014 by 9 percent on “strong new business growth,” CEO Raymond Kubacki said in an earnings statement, but not necessarily because companies are hiring at a greater clip. “New business has accounted for our entire gain, as well as offset softness in the jobs market. While there has been plenty of news recently about the jobs recovery, the fact is, the largest category of gains have been in temporary help,” Kubacki said. For the year, Psychemedics reported revenue of $29.2 million, up from $26.9 million in the previous year, and for the quarter, revenue totaled $6.8 million, versus $6.5 million in the fourth quarter of 2013.