Navigation Links
Abaxis Declares Special Cash Dividend of $1.00 Per Share

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 results in less than 12 minutes with the precision and accuracy equivalent to a clinical laboratory analyzer.  The veterinary business also provides to the animal health and research market a line of hematology instruments for point-of-care complete blood counts (CBC), a specialty instrument to screen for and detect clotting disorders and to measure equine fibrinogen levels, a handheld instrument for the rapid assessment of certain critical care tests and rapid point-of-care tests for Heartworm infections, Parvovirus, Giardia and Lyme disease.  Abaxis, through its AVRL division, provides routine laboratory testing as well as specialty testing for veterinarians nationwide.

Forward Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"), including but not limited to statements related to Abaxis' cash position, financial resources and potential for future growth, market acceptance and penetration of new or planned product offerings, and future recurring revenues and results of operations.  Abaxis claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act.  These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," "anticipates," or words of similar import, and do not reflect historical facts.  Specific forward-looking statements contained in this press release may be affected by risks and uncertainties, including, but not limited to, those related to losses or system failures with respect to Abaxis' facilities or manufacturing operations, fluctuations in quarterly operating results, dependence on sole suppliers, the market acceptance of Abaxis' products and services, the continuing development of its products, required United States Food and Drug Administration clearance and other government approvals, risks associated with manufacturing and distributing its products on a commercial scale free of defects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to the protection of Abaxis' intellectual property or claims of infringement of intellectual property asserted by third parties, risks related to condition of the United States economy and other risks detailed under "Risk Factors" in Abaxis' Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012 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.Contact:

Abaxis, Inc.

Lytham Partners, LLCClint Severson

Joe Dorame, Robert Blum and Joe DiazChief Executive Officer


SOURCE Abaxis, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Abaxis, Inc. to Present at the Jefferies 2012 Global Healthcare Conference
2. Abaxis Enters Into Definitive Agreement To Deliver 300 Piccolo Xpress Instruments For A Four-Year Drug Clinical Trial
3. Abaxis To Report First Quarter Fiscal Year 2013 Financial Results Thursday, July 26, 2012
4. Abaxis Reports Financial Performance For The First Quarter Of Fiscal 2013
5. Abaxis, Inc. to Present at the Canaccord Genuity 32nd Annual Growth Conference
6. Abaxis, Inc. to Present at the Morgan Stanley Global Healthcare Conference
7. Abaxis, Inc. to Present at CL Kings 10th Annual Best Ideas Conference 2012
8. Abaxis, Inc. to Present at UBS Global Life Sciences Conference
9. Abaxis Announces the Launch of Kidney Profile Plus Panel
10. Abaxis Announces Exclusive Distribution Agreement with Abbott
11. Abaxis, Inc. to Present at the Lazard Capital Markets 9th Annual Healthcare Conference
Post Your Comments:
(Date:6/24/2016)... , June 24, 2016 ... the "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural ... Structural electronics involves electronic and/or ... protective structures, replacing dumb structures such as vehicle ...
(Date:6/24/2016)... June 24, 2016 Dehaier Medical Systems Ltd. ... which develops, markets and sells medical devices and wearable ... signed a strategic cooperation agreement with Hongyuan Supply Chain ... Chain") on June 20, 2016, to develop Dehaier,s new ... cooperation agreement, Dehaier will leverage Hongyuan Supply Chain,s sales ...
(Date:6/24/2016)... -- Research and Markets has announced the addition ... report to their offering. ... The World Market for Companion Diagnostics covers the world ... in the report includes the following: , ... by Region (N. America, EU, ROW), 2015-2020 , World ...
Breaking Medicine Technology:
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Comfort ... the American Cancer Society and the Road To Recovery® program to drive cancer patients ... seniors and other adults to ensure the highest quality of life and ongoing independence. ...
(Date:6/24/2016)... TX (PRWEB) , ... June 24, 2016 , ... People ... part in Genome magazine’s Code Talker Award, an essay contest in which patients and ... an award to be presented at the 2016 National Society of Genetic Counselors (NSGC) ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute Beauty ... Barry M. Weintraub as a prominent plastic surgeon and the network’s newest partner. ... and the most handsome men, look naturally attractive. Plastic surgery should be invisible.” ...
(Date:6/24/2016)... ... June 24, 2016 , ... Strategic Capital Partners, LLC ... by obtaining investment capital for emerging technology companies. SCP has delivered investment ... resulted in more than a million dollars of capital investment for five companies. ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Venture Construction ... Classic Tournament held on June 20th at the Woodmont Country Club at 1201 ... Wings, an organization dedicated to helping service members that have been wounded in battle ...
Breaking Medicine News(10 mins):