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Abaxis Reports Financial Performance for the First Quarter of Fiscal 2015
Date:7/24/2014

UNION CITY, Calif., July 24, 2014 /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, 2014.

First quarter overview:

  • Revenues of $47.5 million, up 10% over last year's comparable quarter.
  • Diluted EPS of $0.21, up 50% over last year's comparable quarter.
  • Revenues highlights:

  • Medical market revenues of $7.2 million, up 20% over last year's comparable quarter.
  • Veterinary market revenues of $39.4 million, up 8% over last year's comparable quarter.
  • North America revenues of $38.3 million, up 11% over last year's comparable quarter.
  • International revenues of $9.1 million, up 7% over last year's comparable quarter.
  • Total medical and veterinary reagent disc revenues of $26.9 million, up 18% over last year's comparable quarter.
  • Service revenues from Abaxis Veterinary Reference Laboratories (AVRL) of $3.4 million, up 55% over last year's comparable quarter.
  • Other financial highlights:

  • Income from operations of $7.4 million, up 60% over last year's comparable quarter.
  • Cash, cash equivalents and investments as of June 30, 2014 of $125.7 million, an increase of $4.5 million from March 31, 2014.
  • Cash dividend of $0.10 per share paid during the first quarter of fiscal 2015.
  • Dividend DeclaredAbaxis today announced that its Board of Directors declared a quarterly dividend of $0.10 per common share to be paid on September 17, 2014, to all shareholders of record as of the close of business on September 3, 2014. 

    Quarterly ResultsFor the fiscal quarter ended June 30, 2014, Abaxis reported revenues of $47.5 million, as compared with revenues of $43.2 million for the comparable period last year, an incre
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    SOURCE Abaxis, Inc.
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