Abaxis Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2009. For the quarter, the company reported revenues of $30.3 million compared with revenues of $27.7 million for the comparable period last year, an increase of 9%. Net income was $3.2 million compared to $3.3 million for the same period last year. The company reported diluted net income per share of $0.14 (calculated based on 22,574,000 shares) compared to $0.15 per share (calculated based on 22,304,000 shares) for the same period last year. Income from operations was $5 million compared to $4.8 million for the same period of last year. Income before income tax provision was $5.3 million compared to $5.1 million for the same period of last year. Non-GAAP operating income was $0.22 per diluted share compared to $0.22 per diluted share for the same period a year ago. For the six months, the company reported revenues of $59.9 million compared with revenues of $52.3 million for the comparable period last year, an increase of 15%. Net income of $7.0 million compared to $6.1 million for the same period last year. The company reported diluted net income per share of $0.31 (calculated based on 22,492,000 shares) compared to $0.27 per share (calculated based on 22,363,000 shares) for the same period last year. Income from operations was $10.7 million compared to $8.8 million for the same period of last year. Income before income tax provision was $11.5 million compared to $9.6 million for the same period of last year. Non-GAAP operating income was $0.48 per diluted share compared to $0.39 per diluted share for the same period a year ago.

Abaxis Inc., Q2 2010 Earnings Call, Oct 27 2009

Abaxis Inc. announced that it has received USDA approval for its Canine Heartworm Antigen Test to be performed on the company's VetScan VS2 fully automated instrument. The Heartworm assay is now performed in the instrument alongside and simultaneously with eleven other important Canine health determinations, providing reliable results in minutes, at the point-of-care, and from only two drops of whole blood. The company's VetScan VS2 instrument, about the size of a shoebox, now performs in clinic and in minutes, 25 different tests configured in 9 panels. Almost one in four veterinary practices in North America incorporate Abaxis instruments into routine wellness testing and annual check-ups, as an aide in the diagnosis of sick pets, and in emergency medicine and critical care.