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Abaxis Reports Financial Performance For The First Quarter Of Fiscal 2014
Date:7/25/2013

UNION CITY, Calif., July 25, 2013 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the first fiscal quarter ended June 30, 2013.

Quarterly highlights include:

  • Total veterinary instrument sales of $7.6 million, up 14% over last year's comparable quarter.
  • Total veterinary instrument sales of 1,103 units, up 13% over last year's comparable quarter.
  • Total sales in the veterinary market of $36.4 million, up 12% over last year's comparable quarter.
  • North America revenues of $34.7 million, up 4% over last year's comparable quarter.
  • Revenues of $43.2 million, up 3% over last year's comparable quarter.
  • Service revenues from Abaxis Veterinary Reference Laboratories (AVRL) of $2.2 million, up 157% over last year's comparable quarter.
  • Diluted EPS of $0.14, up 8% over last year's comparable quarter.
  • Cash, cash equivalents and short- and long-term investments as of June 30, 2013 of $103.8 million, an increase of $8.6 million from March 31, 2013.
  • Quarterly Results:  For the fiscal quarter ended June 30, 2013, Abaxis reported revenues of $43.2 million, as compared with revenues of $42.0 million for the comparable period last year, an increase of 3 percent.  Revenues from sales of instruments, which include chemistry analyzers, hematology instruments, VSpro specialty analyzers and i-STAT analyzers, decreased by $1.2 million or 12 percent, compared to the same period last year.  Revenues from sales of consumables, which include reagent discs, hematology reagent kits, VSpro specialty cartridges, i-STAT cartridges and rapid tests, increased by $1.1 million, or 4 percent, over the same period last year.  Abaxis reported net income of $3.2 million for the fiscal quarter ended June 30, 2013, compared to $2.9 million for the same period last ye
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    SOURCE Abaxis, Inc.
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