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Abaxis Reports Financial Performance For The Fourth Quarter And Fiscal 2013
Date:4/25/2013

gation settlement in the second quarter of fiscal 2013, compared to $13.1 million for the prior year.  The company's effective tax rate in fiscal 2013 and 2012 was 35 percent.  The company reported diluted net income per share of $1.23 (calculated based on 22,381,000 shares) for fiscal 2013, compared to $0.58 per share (calculated based on 22,462,000 shares) for fiscal 2012. 

Other Reported Information:  Total sales in the medical market for the fourth quarter of fiscal 2013 were $6.3 million, a decrease of 18 percent compared to the same period last year.  Medical sales worldwide, excluding sales to the U.S. government, during the fourth quarter of fiscal 2013 were $5.7 million, a decrease of 20 percent compared to the same period last year.  Total sales in the veterinary market for the fourth quarter of fiscal 2013 were $42.9 million, an increase of 25 percent, compared to the same period last year.  Total medical and veterinary reagent disc sales for the fourth quarter of fiscal 2013 were $27.0 million, an increase of 14 percent compared to the same period last year.  Non-cash compensation expense recognized for share-based awards during the fourth quarter of fiscal 2013 was $1.8 million, compared to $1.5 million for the same period last year.

Clint Severson, chairman and chief executive officer of Abaxis, said, "We are pleased with the operating results achieved in the fourth quarter and fiscal year 2013.  Instrument sales across the board, including both the veterinary and the medical markets, were up 31 percent for the year.  Reagent disc unit sales for the year were up 11 percent to a record 7.5 million units.  Additionally, we are gratified that the ten-year compounded annual growth rate in our total reagent disc unit sales is greater than 15 percent.  Sales in North America and internationally were up 18 percent and 20 percent, respectively.  One of the key strengths of the com
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