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

September 30, March 31,

2008 2008

Current assets:

Cash and cash equivalents $34,572 $17,219

Short-term investments 34,998 6,991

Trade receivables, net 21,613 20,873

Inventories, net 17,580 18,657

Prepaid expenses 1,093 427

Net deferred tax asset - current 3,204 2,426

Total current assets 113,060 66,593

Long-term investments - 35,463

Property and equipment, net 14,865 14,599

Intangible assets, net 338 375

Other assets 23 5

Net deferred tax asset - non-current 3,771 3,868

Total assets $132,057 $120,903

Current liabilities:

Accounts payable $4,956 $6,421

Accrued payroll and related expenses 4,231 4,277

Other accrued liabilities 2,312 1,369

Deferred revenue 934 807

Warranty reserve 1,617 1,219

Total current liabilities 14,050 14,093

Non-current liabilities:

Deferred rent 217 286

Deferred revenue 1,439 1,146

Warranty reserve 625 729

Total non-current liabilities 2,281 2,161

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SOURCE Abaxis, Inc.
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