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Abaxis Declares Special Cash Dividend of $1.00 Per Share
Date:12/6/2012

UNION CITY, Calif., Dec. 6, 2012 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today announced that its Board of Directors declared a special cash dividend of $1.00 per share on its outstanding common stock.  The dividend will be payable on December 28, 2012 to all shareholders of record at the close of business on December 17, 2012.  The total special cash dividend payout is expected to be approximately $22 million, based upon the current shares outstanding.

Clint Severson, chairman and chief executive officer of Abaxis, said, "We are very pleased the Board of Directors has approved a special one-time cash dividend, demonstrating our commitment to enhancing shareholder value. This special dividend is a reflection of our solid operating performance, strong balance sheet and our confidence in our ability to continue to deliver solid financial operating results."

Mr. Severson concluded, "This is a one-time special dividend and we cannot guarantee any future dividends.  However, our Board of Directors remains committed to enhancing shareholder value based on its consideration of various factors, including the company's operating results, financial condition and anticipated capital requirements." 

About Abaxis
Abaxis develops, manufactures, markets and sells portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements.  The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients.  The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples.  The system provides test
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