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Abaxis Reports Financial Performance with Record Sales for the Second Quarter of Fiscal 2011
Date:10/26/2010

UNION CITY, Calif., Oct. 26 /PRNewswire-FirstCall/ -- ABAXIS, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the fiscal quarter ended September 30, 2010.

Record quarterly highlights include:

  • Revenues of $35.3 million, up 17% over last year's comparable quarter.
  • North America revenues of $29.5 million, up 19% over last year's comparable quarter.

  • Other quarterly highlights include:

  • Net income of $3.7 million, up 17% over last year's comparable quarter.
  • Total medical and veterinary instrument sales of $7.6 million, up 17% over last year's comparable quarter.
  • Veterinary market sales of $26.6 million, up 23% over last year's comparable quarter.
  • Medical market sales of $6.9 million, up 8% over last year's comparable quarter.
  • Total medical and veterinary reagent disc sales of $19.3 million, up 6% over last year's comparable quarter.
  • Cash, cash equivalents and investments as of September 30, 2010 of $100.6 million, compared to $87.6 million as of September 30, 2009.

  • Quarterly Results: For the fiscal quarter ended September 30, 2010, Abaxis reported revenues of $35.3 million, as compared with revenues of $30.3 million for the comparable period last year, an increase of 17 percent.
    Revenues from instrument sales, which include chemistry analyzers, hematology instruments, coagulation analyzers and i-STAT analyzers, increased by an aggregate of $1.1 million, or 17 percent, over the same period last year.  Total medical and veterinary instrument sales were 988 units, up 7 percent over the same period last year.  Revenues from consumables, which include reagent discs, hematology reagent kits, coagulation cartridges, i-STAT cartridges and heartworm rapid tests, increased by an aggregate of $4.3 m
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    SOURCE Abaxis, Inc.
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