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

NC.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

Three Months Ended Six Months Ended

September 30, September 30,

2008 2007 2008 2007

Revenues $27,688 $25,192 $52,260 $48,123

Cost of revenues 12,346 11,335 23,415 21,250

Gross profit 15,342 13,857 28,845 26,873

Operating expenses:

Research and development 2,082 1,822 4,079 3,475

Sales and marketing 6,494 6,381 12,321 11,610

General and administrative 1,952 1,538 3,614 3,189

Total operating expenses 10,528 9,741 20,014 18,274

Income from operations 4,814 4,116 8,831 8,599

Interest and other income (expense),

net 326 529 788 1,028

Income before income taxes 5,140 4,645 9,619 9,627

Income tax provision 1,843 1,757 3,546 3,641

Net income $3,297 $2,888 $6,073 $5,986

Net income per share:

Basic net income per share $0.15 $0.13 $0.28 $0.28

Diluted net income per share $0.15 $0.13 $0.27 $0.27

Shares used in the calculation of net

income per share:

Weighted average common shares

outstanding - basic 21,779 21,448 21,757 21,380

Weighted average common shares

outstanding - diluted 22,304 22,110 22,363 22,103

ABAXIS, INC.

Condensed Consolidated Balance Sheets

(Unaudited and in thousands)


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SOURCE Abaxis, Inc.
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