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

efects, risks related to the introduction of new instruments manufactured by third parties, risks associated with competing in the human diagnostic market, risks related to transitioning our medical sales to Abbott, risks related to the protection of Abaxis' intellectual property or claims of infringement of intellectual property asserted by third parties and risks related to condition of the United States economy.  Readers should also refer to the section entitled "Risk Factors" in Abaxis' Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q and Abaxis' other periodic reports filed 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.

Financial Tables to FollowABAXIS, INC.Condensed Consolidated Statements of Income(In thousands, except per share data)(Unaudited)Three Months EndedTwelve Months EndedMarch 31,March 31,2013201220132012Revenues

$
49,951

$
42,718

$
86,025

$
56,596Cost of revenues

23,768

19,337

87,794

71,493Gross profit

26,183

23,381

98,231

85,103Operating expenses:Research and development 

3,229

3,150

13,577

12,246Sales and marketing 

11,296

11,204

46,943

39,618General and administrative

2,672

2,588

12,825

13,782Gain from legal settlement

-

-

(17,250)

-Total operating expenses

17,197

16,942

56,095

65,646Income from operations

8,986

6,439

42,136

19,457Interest and other income (expense), net

(65)

451

253

710Income before income tax provision<
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SOURCE Abaxis, Inc.
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