Psychemedics posts 4Q profit

ACTON, Mass. (AP) _ Psychemedics Corp. (PMD) on Wednesday reported fourth-quarter profit of $2.4 million.

On a per-share basis, the Acton, Massachusetts-based company said it had net income of 42 cents. Earnings, adjusted for pretax gains, were 22 cents per share.

The drug testing company posted revenue of $9.8 million in the period.

For the year, the company reported profit of $6.1 million, or $1.10 per share. Revenue was reported as $39.7 million.

Psychemedics shares have increased roughly 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.78, a climb of 3.5 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PMD at https://www.zacks.com/ap/PMD