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

illion, or 21 percent, over the same period last year.
The company reported net income of $3.7 million for the fiscal quarter ended September 30, 2010, compared to $3.2 million for the same period last year.
The company's effective tax rate in both three-month periods was 39 percent.
The company reported diluted net income per share of $0.17 (calculated based on 22,691,000 shares) for the three-month period ended September 30, 2010, compared to $0.14 per share (calculated based on 22,574,000 shares) for the same period last year.

Six-Month Results:  For the six-month period ended September 30, 2010, Abaxis reported revenues of $70.2 million, as compared with revenues of $59.9 million for the comparable period last year, an increase of 17 percent.
Revenues from instrument sales increased by an aggregate of $2.1 million, or 17 percent, over the same period last year.
Total medical and veterinary instrument sales were 2,013 units, up 14 percent over the same period last year.
Revenues from consumables increased by an aggregate of $8.7 million, or 21 percent, over the same period last year.
The company reported net income of $7.3 million, compared to $7.0 million for the same period last year.
The company's effective tax rate in the six-month period ended September 30, 2010, was 39 percent, compared to 40 percent for the same period last year.
The company reported diluted net income per share of $0.32 (calculated based on 22,736,000 shares) for the six-month period ended September 30, 2010, compared to $0.31 per share (calculated based on 22,492,000 shares) for the same period last year.

Other Reported Information:  Consumables revenues for the second quarter of fiscal 2011 were $25.3 million, up 21 percent over the $21.0 million reported for the same period last year.  Total sales in the medical market for the second quarter of fiscal 2011 were $6.9 million, an increase of 8 percent compared to the s
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SOURCE Abaxis, Inc.
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