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

nues

17,372

16,097

52,156

46,793Gross profit

20,478

19,809

61,722

59,343Operating expenses:   Research and development

2,634

2,947

9,096

9,321   Sales and marketing

9,927

8,208

28,414

25,249   General and administrative

3,280

2,820

11,194

7,596Total operating expenses

15,841

13,975

48,704

42,166Income from operations

4,637

5,834

13,018

17,177Interest and other income (expense), net

(91)

46

259

698Income before income tax provision

4,546

5,880

13,277

17,875Income tax provision

1,696

2,045

4,892

6,711Net income

$
2,850

$
3,835

$
8,385

$
,164Net income per share:   Basic net income per share

$
.13

$
.17

$
.38

$
.50   Diluted net income per share

$
.13

$
.17

$
.37

$
.49Shares used in the calculation of net income per share:   Weighted average common shares outstanding - basic

21,672

22,398

22,213

22,309   Weighted average common shares outstanding - diluted

21,990

22,872

22,579

22,795ABAXIS, INC.Condensed Consolidated Balance Sheets(Unaudited and in thousands)December 31,March 31,20112011Current assets:   Cash and cash equivalents

$
35,368

$
43,471   Short-term investments

22,366

25,981   Receivables, net

26,041

27,880   Inventories

19,852

19,814   Prepaid expenses and other current assets

5,600

3,496   Net deferred tax assets, current

3,166

3,422Total current assets

112,393

124,064   Long-term investments

30,189

36,237   Investme
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SOURCE Abaxis, Inc.
Copyright©2010 PR Newswire.
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