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

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7,596

7,739Total operating expenses

13,975

12,873

42,166

37,169Income from operations

5,834

5,423

17,177

16,133Interest and other income (expense), net

46

(11)

698

795Income before income tax provision

5,880

5,412

17,875

16,928Income tax provision

2,045

1,982

6,711

6,545Net income

$
3,835

$
3,430

$
,164

$
,383Net income per share:  Basic net income per share

$
.17

$
.16

$
.50

$
.47  Diluted net income per share

$
.17

$
.15

$
.49

$
.46Shares used in the calculation of net income per share:  Weighted average common shares outstanding - basic

22,398

22,035

22,309

22,002  Weighted average common shares outstanding - diluted

22,872

22,617

22,795

22,549ABAXIS, INC.Condensed Consolidated Balance Sheets(Unaudited and in thousands)December 31,March 31,20102010Current assets:Cash and cash equivalents

$
43,556

$
27,857Short-term investments

31,982

32,343Receivables, net

25,271

23,714Inventories

19,588

19,067Prepaid expenses and other current assets

5,249

1,588Net deferred tax assets, current

2,731

3,773 Total current assets

128,377

108,342Long-term investments

29,023

36,319Property and equipment, net

16,949

15,544Intangible assets, net

4,169

4,600Net deferred tax assets, non-current

2,701

2,935Other assets

112

76  Total assets

$
81,331

$
7,816Current liabilities:  Accounts payable

$
7,595

$
9,404  Accrued payroll and related expenses

5,163

5,615  Accrued taxes

250

400  Oth
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SOURCE Abaxis, Inc.
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