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Abaxis Reports Record Revenues For The Third Quarter Of Fiscal 2013
Date:1/31/2013

st year.  Revenues from sales of consumables, which include reagent discs, hematology reagent kits, VSpro specialty cartridges, i-STAT cartridges and rapid tests, increased by an aggregate of $6.0 million, or 22 percent, over the same period last year.  Abaxis reported net income of $5.0 million for the fiscal quarter ended December 31, 2012, compared to $2.9 million for the same period last year, an increase of 75 percent.  Abaxis' effective tax rate in the quarter ended December 31, 2012 was 38 percent, compared to 37 percent for the same period last year.  Abaxis reported diluted net income per share of $0.22 (calculated based on 22,341,000 shares) for the three-month period ended December 31, 2012, compared to $0.13 per share (calculated based on 21,990,000 shares) for the same period last year. 

Nine-Month Results:  For the nine-month period ended December 31, 2012, Abaxis reported revenues of $136.1 million, as compared with revenues of $113.9 million for the comparable period last year, an increase of 19 percent.  Revenues from instrument sales increased by an aggregate of $10.1 million, or 40 percent, over the same period last year.  Revenues from consumables increased by an aggregate of $8.7 million, or 10 percent, over the same period last year.  The company reported net income of $20.8 million, including gain from the company's litigation settlement in the second quarter of fiscal 2013, compared to $8.4 million for the same period last year.  The company's effective tax rate in the nine-month period ended December 31, 2012, was 38 percent, compared to 37 percent for the same period last year.  The company reported diluted net income per share of $0.93 (calculated based on 22,316,000 shares) for the nine-month period ended December 31, 2012, compared to $0.37 per share (calculated based on 22,579,000 shares) for the same period last year. 

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