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Abaxis Reports Financial Performance for the First Quarter of Fiscal 2009
Date:7/24/2008

do not reflect historical facts. Specific forward-looking statements contained in this press release or in our conference call may be affected by risks and uncertainties, including, but not limited to, those related to the market acceptance of the company's products and the continuing development of its products, required United States Food and Drug Administration clearance and other government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with entering the human diagnostic market on a larger scale, risks associated with liquidity concerns related to our auction rate securities, risks related to the protection of the company's intellectual property or claims of infringement of intellectual property asserted by third parties, predictions related to growth in the United States economy, risks involved in carrying of inventory and other risks detailed from time to time in Abaxis' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statements were made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

ABAXIS, INC.

Condensed Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended

June 30,

2008 2007

Revenues $24,572 $22,931

Cost of revenues 11,069 9,915

Gross profit 13,503 13,016

Operating expenses:

Research and development
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SOURCE Abaxis, Inc.
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