Mesa Labs Files 8-K on Impairments and Financials

TL;DR

MESA filing 8-K: Potential impairments and financial statements filed. Watch for impact.

AI Summary

Mesa Laboratories, Inc. filed an 8-K on April 2, 2024, reporting events as of April 1, 2024. The filing indicates potential material impairments and includes financial statements and exhibits. The company, incorporated in Colorado, is headquartered in Lakewood.

Why It Matters

This filing signals potential negative impacts on Mesa Laboratories' financial health due to material impairments, which could affect its reported asset values and profitability.

Risk Assessment

Risk Level: medium — The mention of 'Material Impairments' suggests potential financial distress or revaluation of assets, which carries inherent risk.

Key Numbers

• 0-11740 — Commission File Number (Identifies the company's SEC filing history)
• 84-0872291 — I.R.S. Employer Identification No. (Company's tax identification number)

Key Players & Entities

• MESA LABORATORIES, INC. (company) — Registrant
• Colorado (jurisdiction) — State of incorporation
• Lakewood (location) — Principal executive offices location
• April 1, 2024 (date) — Date of earliest event reported
• April 2, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $271 million — Development divisions of approximately $271 million during the fourth quarter of our fiscal
• $123 million — cash impairment losses of approximately $123 million related to goodwill, of which approxima
• $98 million — ted to goodwill, of which approximately $98 million relates to the Clinical Genomics divisi
• $25 million — cal Genomics division and approximately $25 million relates to the Biopharmaceutical Develo
• $148 m — ther intangible assets of approximately $148 million, of which $114 million relates to
• $114 million — of approximately $148 million, of which $114 million relates to our Clinical Genomics divisi
• $34 million — s to our Clinical Genomics division and $34 million relates to our Biopharmaceutical Develo

Filing Documents

• mlab20240401_8k.htm (8-K) — 42KB
• 0001437749-24-010537.txt ( ) — 174KB
• noticker-20240401.xsd (EX-101.SCH) — 3KB
• noticker-20240401_def.xml (EX-101.DEF) — 11KB
• noticker-20240401_lab.xml (EX-101.LAB) — 15KB
• noticker-20240401_pre.xml (EX-101.PRE) — 11KB
• mlab20240401_8k_htm.xml (XML) — 3KB

06 MATERIAL IMPAIRMENTS

ITEM 2.06 MATERIAL IMPAIRMENTS . On April 1, 2024, Mesa Laboratories, Inc. ("Mesa", the "Company", "we", "us" or "our") concluded that a material charge for non-cash impairment losses related to goodwill and intangible assets is required for the year ended March 31, 2024. As a result, we are disclosing the following information relating to the preliminary unaudited estimate of impairment losses resulting from our annual impairment testing. Goodwill Impairment We expect to record non-cash impairment losses related to our Clinical Genomics and Biopharmaceutical Development divisions of approximately $271 million during the fourth quarter of our fiscal year 2024. The conclusion was made in connection with Mesa's impairment testing of goodwill and other intangible assets conducted in the fourth quarter in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 360, "Property, Plant and Equipment" and Topic 350, "Intangibles-Goodwill and Other" and in connection with the preparation of the financial statements to be included in Mesa's annual report on Form 10-K for the fiscal year ended March 31, 2024. These non-cash accounting charges are not expected to impact our cash flows from current or future operations. We currently expect that our unaudited results for the fourth quarter of 2024 will include non-cash impairment losses of approximately $123 million related to goodwill, of which approximately $98 million relates to the Clinical Genomics division and approximately $25 million relates to the Biopharmaceutical Development division. In addition, we expect to record non-cash impairment losses to other intangible assets of approximately $148 million, of which $114 million relates to our Clinical Genomics division and $34 million relates to our Biopharmaceutical Development division. Identified impairment losses will be recorded in operating expenses in our Consolidated Statement of Operations. The non-cash impairment of good

Forward Looking Statements

Forward Looking Statements This filing contains a number of forward-looking statements. Words such as "continue," "estimate," "expect," "forecast," "plan," "will," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our beliefs and expectations relating to non-cash impairment losses and future related events. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond our control. Important factors that may affect our business and operations or that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, changes in current expectations of future growth rates and margins, changes in management's expectations or plans (including those as a result of our new operating plan), acquisitions and foreign currency translation adjustments, various market factors and the possibility that the ongoing reviews and testing of the our internal controls may result in impairments, asset valuations or other amounts that differ from our current estimates. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this filing, except as required by applicable law or regulation.

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATE: April 2, 2024 Mesa Laboratories, Inc. (Registrant) BY: /s/ Gary M. Owens Gary M. Owens President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR