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Abaxis Reports Record Revenues and Operating Income for the Second Quarter of Fiscal 2009
Date:10/27/2008

$0.15 (calculated based on 22,304,000 shares) in the second quarter of fiscal 2009, compared to $0.13 per share (calculated based on 22,110,000 shares) for the same period last year.

Six Month Results: For the six-month period ended September 30, 2008, Abaxis reported revenues of $52.3 million, as compared with revenues of $48.1 million for the comparable period last year, an increase of 9 percent. Instrument, reagent disc and hematology reagent revenues increased by an aggregate of $4.5 million, or 10 percent, for the six-month period ended September 30, 2008 over the same period last year. The company reported net income of $6.1 million, compared to $6.0 million for the same period last year. The company's effective tax rate in the six months ended September 30, 2008 was 37 percent, compared to 38 percent for the same period last year. The company reported diluted net income per share of $0.27 (calculated based on 22,363,000 shares) in the six months ended September 30, 2008, compared to $0.27 per share (calculated based on 22,103,000 shares) for the same period last year.

Other Reported Financial Information: Reagent disc and hematology reagent revenues for the second quarter of fiscal 2009 were $18.7 million, up 19 percent over the $15.7 million reported in the same period last year. During the quarter, the company sold a total of 1,437,000 million units of medical and veterinary reagent discs, an increase of 16 percent compared to a total of 1,244,000 million units of medical and veterinary reagent discs sold during the same period last year. Medical sales in North America, excluding sales to the U.S. government, during the second quarter of fiscal 2009 were $4.5 million, an increase of 12 percent over last year's comparable quarter. Total sales in the medical market for the second quarter of fiscal 2009 were $6.0 million, an increase of 7 percent over last year's comparable quarter. Total sales in the veterinary market for the second quarter of
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