XRF Scientific's (ASX:XRF) fiscal third quarter results were broadly in line with expectations, due to strong contributions in February and March offsetting a softer start to the quarter, according to a Tuesday note by Euroz Hartleys.

On Tuesday, the company reported revenue of AU$13.9 million for the quarter, down 9% from the prior corresponding period, while profit before tax rose 5% to AU$3.4 million.

Year-to-date, revenue stood at AU$42.4 million, down 3%, with profit before tax up 1% at AU$10.4 million.

Euroz Hartleys noted that February and March accounted for 76% of the quarter's profit, underpinned by continued strength across all divisions, particularly in the mining sector.

International expansion, product development, and mergers and acquisitions remain strategic priorities for the company, Euroz said, adding that strong sales that continue into April and stable trading conditions support its positive outlook for the company.

The broker said XRF's year-to-date results cover around 70% of its full-year profit before-tax forecast and reaffirmed its confidence in the company meeting its full-year estimates.

Euroz maintained XRF Scientific's buy rating and its price target of AU$2.12.

Shares of the company fell nearly 5% in recent Wednesday trade.