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Abaxis Reports Financial Performance with Record Revenues for the Second Quarter of Fiscal 2012
Date:10/25/2011

ociated with competing in the human diagnostic market, risks related to the protection of Abaxis' intellectual property or claims of infringement of intellectual property asserted by third parties, risks related to condition of the United States economy and other risks detailed under "Risk Factors" in Abaxis' Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2011 and Abaxis' other periodic reports filed from time to time with the United States Securities and Exchange Commission.  Forward-looking statements speak only as of the date the statements were made.  Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements.

Financial Tables on Following PagesABAXIS, INC.Condensed Consolidated Statements of Income(In thousands, except per share data)(Unaudited)Three Months EndedSix Months EndedSeptember 30,September 30,2011201020112010Revenues

$
40,025

$
35,277

$
76,028

$
70,230Cost of revenues

18,004

15,527

34,784

30,696Gross profit

22,021

19,750

41,244

39,534Operating expenses:   Research and development

3,008

3,296

6,462

6,374   Sales and marketing

9,335

8,408

18,487

17,041   General and administrative

4,495

2,652

7,914

4,776Total operating expenses

16,838

14,356

32,863

28,191Income from operations

5,183

5,394

8,381

11,343Interest and other income (expense), net

56

757

350

652Income before income tax provision

5,239

6,151

8,731

11,995Income tax provision

1,918

2,402

3,196

4,666Net income

$
3,321

$
3,749

$
5,535

$
7,329Net income per share:  Basic net income per share

$
.15

$<
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SOURCE ABAXIS, Inc.
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