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

p three percent versus the comparable quarter last year, our North American business grew at a seven percent clip.  For the quarter, our international business was down 12 percent, primarily attributable to timing issues in the booking of certain orders through distributors.  We expect the bulk of those orders to be recognized in the near future.  We sold a total of 1.6 million reagent disc units across all product lines during the quarter; which is the third highest quarter in reagent disc unit sales in the history of the company."

Mr. Severson continued, "As we have previously disclosed, legal expenses associated with the on-going intellectual property infringement case impacted the results of the quarter.  As a company founded on innovation, and one that continues to be a leader in new technologies, we believe that infringement of our intellectual property is something we must take very seriously.  We are pleased that the financial underpinnings of the company remain very strong as evidenced by solid profitability for the quarter and an increase in our cash, cash equivalents and investments of $10.5 million to $108.9 million compared to the same period last year.  As we move forward, we expect that fiscal year 2012 will continue the trajectory of growth set in recent years."

Conference CallAbaxis has scheduled a conference call to discuss its results at 4:15 p.m. Eastern Time on Thursday, July 28, 2011.  Participants can dial (877) 317-6789 or (412) 317-6789 to access the conference call, or can listen via a live Internet web cast, which is available in the Investor Relations section of the company's website at http://www.abaxis.com.  A replay of the call will be available by visiting http://www.abaxis.com for the next 30 days or by calling (877) 344-7529 or (412) 317-0088, access code 10002131, through August 3, 2011.  This
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