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Abaxis Reports Financial Performance With Record Sales for the Third Quarter of Fiscal 2011
Date:1/27/2011

UNION CITY, Calif., Jan. 27, 2011 /PRNewswire/ -- Abaxis, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the fiscal quarter ended December 31, 2010.

Record quarterly highlights include:

  • Revenues of $35.9 million, up 16% over last year's comparable quarter.
  • North America revenues of $30.1 million, up 21% over last year's comparable quarter.
  • Medical market sales of $8.1 million, up 57% over last year's comparable quarter.
  • Total medical and veterinary instrument sales of $9.3 million, up 10% over last year's comparable quarter.

  • Other quarterly highlights include:

  • Net income of $3.8 million, up 12% over last year's comparable quarter.
  • Veterinary market sales of $26.3 million, up 10% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of $19.5 million, up 20% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of 1.5 million units, up 21% over last year's comparable quarter.
  • Total medical and veterinary instrument sales of 1,261 units, up 4% over last year's comparable quarter.
  • Cash, cash equivalents and investments as of December 31, 2010 of $104.6 million, compared to $93.2 million as of December 31, 2009.

  • Quarterly Results:  For the fiscal quarter ended December 31, 2010, Abaxis reported revenues of $35.9 million, as compared with revenues of $31.0 million for the comparable period last year, an increase of 16 percent.  Revenues from instrument sales, which include chemistry analyzers, hematology instruments, VSpro coagulation and specialty analyzers and i-STAT analyzers, increased by an aggregate of $828,000, or 10 percent, over the same period last year.  Total medical and veterinary instrume
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    SOURCE Abaxis, Inc.
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