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

example, our new VetScan VSpro Coagulation Analyzer got off to a strong start in its initial roll-out with unit sales representing 12.5% of our total instrument sales in the first quarter. Our new VetScan Canine Heartworm Rapid Test continues to be received very well by the veterinary community and our distribution agreement with Abbott's Point-of-Care business started in earnest during the quarter with the shipment of i-STAT cartridges. We expect these products and business relationships will grow and thrive in the coming years."

Mr. Severson continued, "During the very challenging economic environment of the past couple of years Abaxis has taken the opportunity to better position the company for the years ahead. We have been successful in improving the financial underpinnings of the company by conservatively managing and growing our cash position, avoiding taking on debt and achieving operating efficiencies that will meaningfully contribute to our financial results going forward. Additionally, we have made significant improvements in product engineering, hardware, and software that translate into leading-edge point-of-care technology in both the medical and veterinary markets. With a strong focus on the future we are successfully moving Abaxis through a very traumatic economic period in a position to prosper as we move into the next market cycle."

Conference Call

Abaxis has scheduled a conference call to discuss its results at 4:15 p.m. Eastern Time on July 30, 2009. Participants can dial (800) 860-2442 or (412) 858-4600 to access the conference call, or can listen via a live Internet web cast, which is available in the Investor Relations section of the company's website athttp://www.abaxis.com. A replay of the call is available by visitinghttp://www.abaxis.com for the next 30 days or by calling (8
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SOURCE Abaxis, Inc.
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