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Abaxis Reports Record Financial Performance for the First Quarter of Fiscal 2010
Date:7/30/2009

UNION CITY, Calif., July 30 /PRNewswire-FirstCall/ -- ABAXIS, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the first fiscal quarter ended June 30, 2009.

Record quarterly highlights include:

  • Revenues of $29.6 million, up 21% over last year's comparable quarter.
  • Veterinary market sales of $21.8 million, up 31% over last year's comparable quarter.
  • North America revenues of $24.1 million, up 19% over last year's comparable quarter.
  • International revenues of $5.5 million, up 29% over last year's comparable quarter.
  • Medical and veterinary reagent disc sales of $18.4 million, up 31% over last year's comparable quarter.
  • Gross profit of $17.2 million, up 27% over last year's comparable quarter.
  • Operating income of $5.7 million, up 42% over last year's comparable quarter.
  • Net income of $3.8 million, up 35% over last year's comparable quarter.

Quarterly Results: For the fiscal quarter ended June 30, 2009, Abaxis reported revenues of $29.6 million, as compared with revenues of $24.6 million for the comparable period last year, an increase of 21 percent. Revenues from instrument sales, which include chemistry analyzers, hematology instruments and coagulation analyzers, decreased by an aggregate of $1.5 million, or 20 percent, over the same period last year. Revenues from consumables, which include reagent discs, hematology reagent kits, coagulation cartridges, i-STAT cartridges and heartworm rapid tests, increased by an aggregate of $6.0 million, or 40 percent, over the same period last year. The company reported net income of $3.8 million, compared to $2.8 milli
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SOURCE Abaxis, Inc.
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