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Abaxis Reports Financial Performance for the Fourth Quarter and Fiscal 2009
Date:4/29/2009

t year's comparable quarter, and 55.5% for fiscal 2009, up 80 basis points year-over-year.
  • Improvement of 3% in average unit cost of medical and veterinary reagent discs from fiscal 2008 to fiscal 2009.
  • Diluted EPS of $0.12 for the fourth quarter versus $0.15 in the same period last year, and $0.54 for fiscal 2009, compared to $0.56 for fiscal 2008.
  • Cash, cash equivalents and short- and long-term investments as of March 31, 2009 of $74.9 million, compared to $59.7 million as of March 31, 2008.

  • Quarterly Results: For the fiscal quarter ended March 31, 2009, Abaxis reported revenues of $26.3 million, as compared with revenues of $26.7 million for the comparable period last year, a decrease of 1 percent. Revenue from instrument sales, which include chemistry analyzers, hematology instruments and coagulation analyzers, decreased by an aggregate of $2.2 million, or 28 percent, over the same period last year. Revenue from consumables, which include reagent discs, hematology reagent kits, coagulation reagents and heartworm rapid tests, increased by an aggregate of $2.0 million, or 12 percent, over the same period last year. The company reported net income of $2.6 million, compared to $3.3 million for the same period last year. The company's effective tax rate in the quarter ended March 31, 2009 was 40 percent, compared to 37 percent for the same period last year. The company reported diluted net income per share of $0.12 (calculated based on 22,302,000 shares) for the fourth quarter of fiscal 2009, compared to $0.15 per share (calculated based on 22,393,000 shares) for the same period last year.

    Fiscal 2009 Results: For the year ended March 31, 2009, Abaxis reported revenues of $105.6 million, as compared with revenues of $100.6 million for the comparable period last year, an increase of 5 percent. Instrument revenue decreased
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    SOURCE Abaxis, Inc.
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