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Abaxis Reports Financial Performance for the Third Quarter of Fiscal 2012
Date:1/26/2012

UNION CITY, Calif., Jan. 26, 2012 /PRNewswire/ -- Abaxis, Inc. (NasdaqGS: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the third fiscal quarter ended December 31, 2011.

Record quarterly highlights include:

  • Medical market sales of $8.1 million, up $21,000 over last year's comparable quarter.
  • Total medical reagent disc sales of $5.6 million, up 8% over last year's comparable quarter.
  • Total medical reagent disc sales of 655,000 units, up 14% over last year's comparable quarter.

  • Other quarterly highlights include:

  • North America revenues of $31.8 million, up 6% over last year's comparable quarter.
  • Veterinary market sales of $28.5 million, up 8% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of $20.4 million, up 5% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of 1.6 million units, up 5% over last year's comparable quarter.

  • Quarterly Results:  For the fiscal quarter ended December 31, 2011, Abaxis reported revenues of $37.9 million, as compared with revenues of $35.9 million for the comparable period last year, an increase of 5 percent.
    Revenues from instruments, which include chemistry analyzers, hematology instruments, VSpro coagulation and specialty analyzers and i-STAT analyzers, decreased by an aggregate of $210,000 or 2 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 $2.3 million, or 9 percent, over the same period last year.
    Abaxis reported net income of $2.9 million for the fiscal quarter ended December 31, 2011, compared to $3.8 million for the same period last year, a decrease of 26 percent.
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    SOURCE Abaxis, Inc.
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