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

1,699Net income

$
3,229

$
2,864Net income per share:  Basic net income per share

$
.15

$
.13  Diluted net income per share

$
.14

$
.13Shares used in the calculation of net income per share:  Weighted average common shares outstanding - basic

22,229

21,817  Weighted average common shares outstanding - diluted

22,571

22,217 ABAXIS, INC.Condensed Consolidated Balance Sheets(Unaudited and in thousands)June 30,March 31,20132013Current assets: Cash and cash equivalents

$
7,786

$
54,910 Short-term investments

17,755

23,354 Receivables, net

32,265

40,005 Inventories

27,530

26,786 Prepaid expenses and other current assets

2,444

3,319 Net deferred tax assets, current

4,734

4,589Total current assets 

152,514

152,963Long-term investments

18,301

17,000Investment in unconsolidated affiliate

2,643

2,613Property and equipment, net

25,600

25,330Intangible assets, net

2,747

3,122Net deferred tax assets, non-current

652

643Other assets

85

92Total assets

$
202,542

$
201,763Current liabilities: Accounts payable

$
,166

$
8,123 Accrued payroll and related expenses

6,137

6,261 Accrued taxes

338

440 Other accrued liabilities

2,660

2,838 Deferred revenue

1,256

1,362 Warranty reserve

950

995Total current liabilities

17,507

20,019Non-current liabilities: Deferred rent

740

729 Deferred revenue

3,850

3,750 Warranty reserve

377

389 Note
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SOURCE Abaxis, Inc.
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