Abaxis Reports Financial Performance for the First Quarter of F... ( UNION CITY Calif. July 24 /- Abax...)

Abaxis Reports Financial Performance for the First Quarter of Fiscal 2009

Date:7/24/2008

UNION CITY, Calif., July 24 /PRNewswire-FirstCall/ -- Abaxis, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the first fiscal quarter ended June 30, 2008.

Quarterly highlights include:

-- Revenues of $24.6 million, up 7% over last year's comparable quarter.

-- Total sales of chemistry and hematology analyzers of 804 units, up 127

units or 19% over last year's comparable quarter.

-- Vetscan chemistry analyzer sales of 415 units, up 25% over last year's

comparable quarter.

-- Medical chemistry analyzer sales of 208 units, up 18% over last year's

comparable quarter.

-- Medical reagent disc sales of 404,000 units, up 47% over last year's

comparable quarter.

-- Average selling price of medical and veterinary reagent discs of

$11.90, a new record, up $0.08 over last year's comparable quarter.

-- Medical market sales of $6.5 million, up 36% over last year's

comparable quarter.

-- U.S. government sales of $1.4 million, up 105% over last year's

comparable quarter.

-- Total sales in Asia of $892,000, up 27% over last year's comparable

quarter.

-- Cash, cash equivalents and short- and long-term investments as of

June 30, 2008 of $61.6 million, compared to $49.5 million as of

June 30, 2007.

Quarterly Results: For the fiscal quarter ended June 30, 2008, Abaxis reported revenues of $24.6 million, as compared with revenues of $22.9 million for the comparable period last year, an increase of 7 percent. Instrument, reagent disc and hematology reagent revenues increased by an aggregate of $1.9 millio
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Abaxis Reports Financial Performance for the First Quarter of F...( UNION CITY Calif. July 24 /- Abax...)