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Heska Reports Third Quarter 2012 Earnings
Date:11/13/2012

LOVELAND, Colo., Nov. 13, 2012 /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 third quarter and nine-month period ended September 30, 2012.

Third Quarter 2012 Highlights:

  • Consolidated revenue was $16.9 million, a decrease of 4% as compared to the $17.6 million in the third quarter of 2011.
  • Core Companion Animal Health revenue of $13.5 million, decreased 5% as compared to $14.3 million for the third quarter of 2011.
  • Other Vaccines, Pharmaceuticals and Products (OVP) revenues were up 1% to $3.4 million from $3.3 million in the third quarter of 2011.
  • Gross profit was $6.7 million, or a 39.8% gross margin, as compared to gross profit of $6.8 million, or a 38.8% gross margin, for the third quarter of 2011.
  • Operating loss was $27 thousand as compared to $408 thousand operating income in the third quarter of 2011.  
  • Heska completed the quarter with $5.7 million in cash, no debt and $18.1 million in working capital.
  • "We are seeing increased analyzer placements, on average, across our sales organization," commented Dr. Robert Grieve, Heska's Chairman and CEO.  "However, this progress has not yet reached the levels we had expected, and we continue our efforts to strengthen our sales organization."

    "We are particularly excited to leverage this improving sales organization with the launch of our new, state-of-the-art, Element DC Analyzer, which provides improved speed and
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    SOURCE Heska Corporation
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