Psychemedics: Trips on 63 pct fall in Q4 profit

Psychemedics

05/03/2019 16:09

** Drug testing system maker's shares  PMD.O  slip ~20 pct
to $15.42 - stock among top 5 pct losers across U.S. exchanges
    ** Co posts 62.5 pct fall in Q4 net income due to impact of
Brazilian exchange rate  urn:newsml:reuters.com:*:nGNXbPYQwr
    ** PMD says it will sell directly to its independent
distributor, instead of through its Brazilian subsidiary, due to
the exchange rate changes
    ** Says co is now sharing exchange rate risk with its
independent Brazilian distributor
    ** PMD makes devices that analyze human hair to detect drugs
of abuse and show the approximate amount of drug ingested as
well as the pattern of drug use over longer periods of time
    ** Stock down 1 pct so far this year

 (Reporting by Saumya Sibi Joseph in Bengaluru)
 ((Reuters Messaging:
saumya.joseph.thomsonreuters.com@reuters.net))