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

rt on Form 10-Q for the fiscal quarter ended December 31, 2008 and Abaxis' other periodic reports filed from time to time 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.

Financial Tables on Following Pages

    ABAXIS, INC.
    Condensed Consolidated Statements of Operations
    (In thousands, except per share data)
    (Unaudited)

                                     Three Months Ended  Twelve Months Ended
                                          March 31,           March 31,
                                       2009      2008      2009      2008

    Revenues                         $26,338   $26,738  $105,562  $100,551
    Cost of revenues                  11,663    12,176    46,937    45,507
    Gross profit                      14,675    14,562    58,625    55,044

    Operating expenses:
         Research and development      2,245     1,862     8,361     6,966
         Sales and marketing           6,330     6,023    24,712    23,689
         General and administrative    1,902     1,921     7,757     6,681
    Total operating expenses          10,477     9,806    40,830    37,336

    Income from operations             4,198     4,756    17,795    17,708
    Interest and other income
     (expense), net                      131       516     1,271     2,096
    Income before income taxes         4,329     5,272    19,066    19,804
    Income tax provision               1,745     1,960     7,053     7,301
    Net income                        $2,584    $3,312   $12,013   $12,503

    Net income per share:
      Basic net income per share       $0.12     $0.15     $0.55    $ 0.58
      Diluted net income per share     $0.12     $0.15     $0.54    $ 0.56

    Shares used in
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SOURCE Abaxis, Inc.
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