8-K

                     U.S. Securities and Exchange Commission

                             Washington, D.C. 20549



                                    Form 8-K
                                 Current Report

   Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934



                                 August 6, 2003
                                 --------------
                Date of Report (Date of earliest event Reported):




                             MESA LABORATORIES, INC.
                             -----------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


                         Commission File Number: 0-11740


                  COLORADO                                  84-0872291
                  --------                                  ----------
      (State or other Jurisdiction of                    (I.R.S. Employer
      Incorporation or Organization)                     Identification No.)


      12100 WEST SIXTH AVENUE, LAKEWOOD, COLORADO               80228
      -------------------------------------------             ---------
      (Address of Principal Executive Offices)                (Zip Code)


      Issuer's telephone number, including area code:  (303) 987-8000


                                 Not Applicable.
                                 ---------------
          (Former name or former address, if changed since last report)





ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.

      c)       Exhibits:

        99.1     Press Release issued August 6, 2003



ITEM 9. REGULATION FD DISCLOSURE.

     Pursuant to the interim  guidance  provided  in Release  No.  33-8216,  the
disclosure  being  furnished in this Form 8-K is being  furnished under Item 12,
"Results of Operations and Financial Condition," of form 8-K.

     On  August  6,  2003,  Mesa  Laboratories,  Inc.  issued  a  press  release
describing  its results of operations for its first quarter ended June 30, 2003.
A copy of  this  press  release  is  attached  hereto  as  Exhibit  99.1  and is
incorporated by reference herein.



                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities  Exchange Act of 1934, as
     amended,  the  registrant  has duly  caused this report to be signed on its
     behalf by the undersigned thereunto duly authorized.


      MESA LABORATORIES, INC.
      -----------------------
            (Issuer)



      DATED:  August 6, 2003                BY: /s/  Luke R. Schmieder
                                                ----------------------
                                                Luke R. Schmieder
                                                President, Chief Executive
                                                 Officer, Treasurer and Director



                                INDEX TO EXHIBITS

Exhibit No.     Description                                   Method of Filing
- -----------     -----------                                   ----------------

99.1            Press release dated August 6, 2003            Filed herewith

EX-99

EXHIBIT 99.1

      NEWS FOR IMMEDIATE RELEASE: AUGUST 6, 2003

            MESA LABS REPORTS HIGHER FIRST QUARTER SALES AND EARNINGS

     LAKEWOOD, CO - Mesa Laboratories,  Inc. (NASDAQ:MLAB) today reported higher
sales and earnings for the fiscal first quarter ended June 30, 2003.

     For the first  quarter of fiscal 2004,  net sales  increased ten percent to
$2,253,000  from  $2,052,000  in the same quarter last year.  Net income for the
quarter  increased 25 percent to $523,000 or $.17 per diluted share  compared to
$420,000 or $.12 per diluted  share one year ago.  The change in net income from
fiscal  2003 to fiscal 2004 was due  chiefly to  increased  sales in the current
quarter.

     The sales increase during the first quarter of the fiscal year was due to a
38 percent increase in sales of Datatrace logging instruments. This increase was
partially  off-set by small  declines  of less than ten  percent in Medical  and
Nusonics instruments.  Last year's introduction of the Micropack III Temperature
Logger continued to drive the increase in Datatrace  instrument sales during the
first  quarter.  Development  of three new versions of the  Micropack III Logger
that will measure other parameter besides  temperature is proceeding well and is
expected to see introduction later in the fiscal year.  Development projects for
the company's line of Dialysate  Meters for kidney dialysis have recently begun,
and we estimate  that we will begin to  introduce  our next  generation  medical
instruments in approximately twelve months.

     During the first quarter of the fiscal year, the Company repurchased 49,200
shares of our common stock under a previously  announced  buyback plan,  and the
Company's cash position increased by $819,000 to $5,580,000. During June of this
year, the Board of Directors  approved the  repurchase of an additional  300,000
shares of the Company's  common stock under the same  conditions as the previous
plan.

     Mesa Laboratories develops,  acquires,  manufactures and markets electronic
instruments for industrial, pharmaceutical and medical applications.

     This news release contains  forward-looking  statements which involve risks
and  uncertainties.  The Company's  actual results could differ  materially from
those in any such forward-looking statements.  Additional information concerning
important  factors that could cause results to differ  materially  from those in
any such  forward-looking  statement is contained in the Company's Annual Report
on Form-10KSB for the year ended March 31, 2003 as filed with the Securities and
Exchange  Commission,  and from time to time in the  Company's  other reports on
file with the Commission.





                                FINANCIAL SUMMARY

STATEMENT OF EARNINGS (Unaudited)

                                 Quarter Ended June 30
                               --------------------------
                                   2003          2002
                               --------------------------

Net Sales ..................   $ 2,253,000    $ 2,052,000
Cost of Goods ..............       806,000        811,000
                               -----------    -----------
Gross Profit ...............     1,447,000      1,241,000
Operating Expense ..........       653,000        631,000
                               -----------    -----------
Operating Income ...........       794,000        610,000
Other (Income) & Expense ...       (13,000)       (14,000)
                               -----------    -----------
Earnings Before Taxes ......       807,000        624,000
Income Taxes ...............       284,000        204,000
                               -----------    -----------

Net Income .................   $   523,000    $   420,000
                               ===========    ===========


Earnings Per Share (Basic) .   $       .17    $       .13
                               ===========    ===========

Earnings Per Share (Diluted)   $       .17    $       .12
                               ===========    ===========


Average Shares (Basic) .....     3,077,000      3,333,000
                               ===========    ===========

Average Shares (Diluted ) ..     3,158,000      3,415,000
                               ===========    ===========



BALANCE SHEETS (Unaudited)
- --------------------------

                                              June 30      March 31
                                               2003         2003
                                           -----------   -----------

Cash and Short-term Investments ........   $ 5,580,000   $ 4,761,000
Other Current Assets ...................     4,332,000     4,843,000
                                           -----------   -----------

Total Current Assets ...................     9,912,000     9,604,000
Property and Equipment .................     1,324,000     1,348,000
Other Assets ...........................     4,208,000     4,208,000
                                           -----------   -----------

Total Assets ...........................   $15,444,000   $15,160,000
                                           ===========   ===========




Liabilities ............................   $   753,000   $   673,000
Stockholders' Equity ...................    14,691,000    14,487,000
                                           -----------   -----------

Total Liabilities and Equity               $15,444,000   $15,160,000
                                           ===========   ===========



CONTACTS:

Luke R. Schmieder; President-CEO
Steven W. Peterson; VP Finance-CFO
Mesa Laboratories, Inc.
303.987.8000