Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States and internationally. The company's tests provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data, which can show a pattern of individual drug use over a longer period of time. It offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, PCP, amphetamines, and opiates, including heroin, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine. The company offers its services to employers for applicant and employee testing; treatment professionals, law enforcement agencies, school administrators, and parents concerned about their children's drug use; and Fortune 500 companies and small to mid-size corporations. Psychemedics Corporation was founded in 1985 and is headquartered in Acton, Massachusetts.
Psychemedics posts 3Q profit ACTON, Mass. (AP) _ Psychemedics Corp. (PMD) on Wednesday reported third-quarter earnings of $2.7 million. The Acton, Massachusetts-based company said it had net income of 49 cents per share. The drug testing company posted revenue of $11.8 million in the period. Psychemedics shares have increased 94 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.67, a rise of 86 percent in the last 12 months.
