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Heska Announces 19.0% Revenue Growth for Fourth Quarter of Fiscal 2012
Date:2/25/2013

LOVELAND, Colo., Feb. 25, 2013 /PRNewswire/ -- Heska Corporation (NASDAQ: HSKA; "Heska" or the "Company"), a provider of advanced veterinary diagnostic and other specialty veterinary products, today reported financial results for its fourth quarter and full year ended December 31, 2012.  The Company previously announced the acquisition of 54.6% of Cuattro Vet US, LLC  ("Cuattro Vet").

Fourth Quarter 2012 Highlights:

  • Consolidated revenue increased 19.0% to $18.5 million, compared to $15.5 million in the fourth quarter of 2011.
  • Core Companion Animal Health revenue increased approximately 23.0%, while Other Vaccines, Pharmaceuticals and Products revenue remained steady as compared to the fourth quarter of 2011.  
  • 12.3% increase in year-over-year quarterly gross profit and a 40.1% gross margin, compared to 42.5% in the fourth quarter of 2011.
  • $720 thousand in operating income compared to $414 thousand in operating income in the fourth quarter of 2011.
  • Heska completed the year with $5.8 million in cash, $2.6 million in debt and $18.6 million in working capital.
  • Full Year 2012 Highlights:

  • Full year revenue increased approximately 3.9% to $72.8 million compared to revenue of $70.1 million in the prior year.
  • Core Companion Animal Health revenue grew 7.0% to $61.5 million and Other Vaccines, Pharmaceuticals and Products revenue decreased 10.2% to $11.3 million as compared to the prior year.
  • Gross profit was $31.1 million, or 42.7% gross margin, compared with gross profit of $29.2 million, or 41.7% gross margin in 2011.
  • Operating income was $2.2 million compared to operating income of $3.2 million in 2011.
  • "This was a solid year for Heska, with
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    SOURCE Heska Corporation
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