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Abaxis Reports Financial Performance for the First Quarter of Fiscal 2012
Date:7/28/2011

UNION CITY, Calif., July 28, 2011 /PRNewswire/ -- ABAXIS, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the first fiscal quarter ended June 30, 2011.  

Quarterly highlights include:

  • Revenues of $36.0 million, up 3% over last year's comparable quarter.
  • North America revenues of $29.7 million, up 7% over last year's comparable quarter.
  • Medical market sales of $7.2 million, up 11% over last year's comparable quarter.
  • Veterinary market sales of $27.7 million, up 3% over last year's comparable quarter.
  • Total medical and veterinary instruments sales of $7.5 million, up 3% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of $20.7 million, up 3% over last year's comparable quarter.
  • Total medical reagent disc sales of $5.0 million, up 12% over last year's comparable quarter.
  • Cash, cash equivalents and investments of $108.9 million as of June 30, 2011, compared to $98.4 million as of June 30, 2010.

  • Quarterly Results:  For the fiscal quarter ended June 30, 2011, Abaxis reported revenues of $36.0 million, as compared with revenues of $35.0 million for the comparable period last year, an increase of 3 percent.  Revenues from instruments, which include chemistry analyzers, hematology instruments, VSpro coagulation and specialty analyzers and i-STAT analyzers, increased by an aggregate of $204,000, or 3 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 rapid tests, increased by an aggregate of $1.4 million, or 5 percent, over the same period last year.  Abaxis reported net income of $2.2 million for the fiscal quarter ended June 30, 2011, compared to $3.6 million for the same period last
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    SOURCE Abaxis, Inc.
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