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Abaxis Reports Record Revenues for the Third Quarter of Fiscal 2010
Date:1/28/2010

t year.  The company reported total medical and veterinary instrument sales of 2,971 units, up 23 percent over the same period last year.  Revenues from consumables increased by an aggregate of $11.6 million, or 23 percent, over the same period last year.  The company reported net income of $10.4 million, compared to $9.4 million for the same period last year.  The company's effective tax rate in the nine-month period ended December 31, 2009, was 39 percent, compared to 36 percent for the same period last year.  The company reported diluted net income per share of $0.46 (calculated based on 22,549,000 shares) for the nine months ended December 31, 2009, compared to $0.42 per share (calculated based on 22,325,000 shares) for the same period last year.

Other Reported Information:  Consumables revenues for the third quarter of fiscal 2010 were $20.1 million, up 20 percent over the $16.8 million reported for the same period last year.  Total sales in the medical market for the third quarter of fiscal 2010 were $5.2 million, a decrease of 28 percent compared to the same period last year, primarily due to a decrease in instrument sales to the U.S. government and distributors in North America.  Medical sales worldwide, excluding sales to the U.S. government, during the third quarter of fiscal 2010 were $4.8 million, a decrease of 21 percent compared to the same period last year, primarily due to inventory stock adjustments by distributors in North America.  Total sales in the veterinary market for the third quarter of fi
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