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

nt sales were 1,261 units, up 4 percent over the same period last year.  Revenues from consumables, which include reagent discs, hematology reagent kits, VSpro coagulation and specialty cartridges, i-STAT cartridges and heartworm rapid tests, increased by an aggregate of $4.4 million, or 22 percent, over the same period last year.  Abaxis reported net income of $3.8 million for the fiscal quarter ended December 31, 2010, compared to $3.4 million for the same period last year.  Abaxis' effective tax rate in the quarter ended December 31, 2010 was 35 percent, compared to 37 percent for the same period last year.  Abaxis reported diluted net income per share of $0.17 (calculated based on 22,872,000 shares) for the three-month period ended December 31, 2010, compared to $0.15 per share (calculated based on 22,617,000 shares) for the same period last year.

Nine-Month Results:  For the nine-month period ended December 31, 2010, Abaxis reported revenues of $106.1 million, as compared with revenues of $90.9 million for the comparable period last year, an increase of 17 percent.  Revenues from instrument sales increased by an aggregate of $3.0 million, or 14 percent, over the same period last year.  Total medical and veterinary instrument sales were 3,274 units, up 10 percent over the same period last year.  Revenues from consumables increased by an aggregate of $13.1 million, or 21 percent, over the same period last year.  Abaxis reported net income of $11.2 million, compared to $10.4 million for the same period last year.  Abaxis' effective tax rate in the nine-month period ended December 31, 2010, was 38 percent, compared to 39 percent for the same period last year.  Abaxis reported diluted net income per share of $0.49 (calculated based on 22,795,000 shares) for the nine-month period ended December 31, 2010, compared to $0.46 per share (calculated based on 22,549,000 shares) for the same period l
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SOURCE Abaxis, Inc.
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