LOVELAND, Colo., Aug. 18, 2011 /PRNewswire/ -- Heska Corporation (NASDAQ: HSKA, "Heska" or the "Company"), a provider of advanced veterinary diagnostic and other specialty veterinary products, today announced that it has retained Hayden IR, a national, New York-based investor relations consulting firm, to develop an investor relations program to raise its visibility and strengthen its relationships with the investment community.
"Over the last year, Heska has solidified its financial position, improving its balance sheet and setting the stage for improved operating performance," commented Robert Grieve, Heska's Chairman and CEO. "We are now focused on further enhancing our product offering, with one new product launched in 2011, plans for one more this year and up to four in 2012. Accordingly, we believed it was an appropriate time to retain a national investor relations firm to help us target an expanding investor audience and ensure we are communicating effectively with Wall Street. We look forward to working with the team of professionals at Hayden IR to execute this important goal."
With offices in New York, Phoenix, Minneapolis and San Diego, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 100 micro- and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
Brett Maas, Hayden IR's Managing Partner, added, "Heska represents an intriguing opportunity, with a strong base of recurring revenue, more than $1 per share in cash and no debt. The Company has an outstanding reputation and an expanding commercial network, targeting a large market opportunity with favorable demographics. During the last 12 months, Heska has been improving its financial performance, growing revenue and delivering improved gross margins, resulting in a swing from operating losses to profitability. This performance is even more compelling when investors understand the value of the approximately $160.7 million Net Operating Loss position and focus on the company's underlying earnings. The team at Hayden IR looks forward to articulating this opportunity to the professional investment community."
Heska Corporation (NASDAQ: HSKA) sells advanced veterinary diagnostic and other specialty veterinary products. Heska's state-of-the-art offerings to its customers include diagnostic instruments and supplies as well as single use, point-of-care tests, pharmaceuticals and vaccines. The Company's core focus is on the canine and feline markets where it strives to provide high value products and unparalleled customer support to veterinarians. For further information on Heska and its products, visit the company's website at www.heska.com.
This announcement contains forward-looking statements regarding Heska's future financial and operating results. For example, Dr. Grieve's stated expectations for new product launches are forward-looking. These statements are based on current expectations and are subject to a number of risks and uncertainties. Investors should note that there is an inherent risk in using past results, including trends, to predict future outcomes. In addition, factors that could affect the business and financial results of Heska generally include the following: risks related to Heska's reliance on third parties to develop certain of Heska's future products; risks related to Heska's ability to increase the productivity of its sales force; risks related to the implementation of current product development plans, including anticipated launch dates; risks regarding Heska's reliance on third-party suppliers such as minimum purchase requirements, which could have a significant adverse impact on Heska's financial position; uncertainties related to Heska's ability to hire and retain effective individuals to fill currently vacant positions; uncertainties related to Heska's ability to successfully commercialize new products; uncertainties regarding Heska's reliance on third parties to whom Heska has granted substantial marketing rights to certain of Heska's existing products and who may be large Heska customers, including Schering-Plough Animal Health Corporation which has exclusive rights to Heska's heartworm preventive in the United States; uncertainties regarding Heska's ability to successfully market and sell its products in an economically sustainable manner; competition; risks related to Heska's ability to generate levels of profitability to utilize significantly its deferred tax assets; and the risks set forth in Heska's filings and future filings with the Securities and Exchange Commission, including those set forth in Heska's Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.
|SOURCE Heska Corporation|
Copyright©2010 PR Newswire.
All rights reserved