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07/22/16 04:00:03 PM
MARKET MOVERS

Movers: Abaxis, Inc.

Abaxis, Inc.(ABAX) : Abaxis, Inc., a manufacturer of portable blood analysis systems, has reported that net income for the first quarter ended June 30, 2016 was $6.89 million, or $0.30 per diluted share, compared to $6.99 million, or $0.31 per diluted share, for the same quarter ended June 30, 2015. Revenues for the first quarter ended June 30, 2016 were $57.70 million, compared to $53.09 million for the same quarter ended June 30, 2015. Gross profit for the first quarter ended June 30, 2016 was $32 million, compared to $29.39 million for the same quarter ended June 30, 2015. Income from operations for the first quarter ended June 30, 2016 was $10.74 million, compared to $10.62 million for the same quarter ended June 30, 2015. Clint Severson, chairman and CEO of Abaxis, commented, "We are off to a solid start in the first quarter of fiscal 2017 with record total revenues and 10% growth in veterinary sales. Total revenues for the quarter increased by 9% over last year's first quarter, driven by 16% growth in instrument sales year over year, which sets the stage for future consumable revenue growth in the coming quarters and years. Revenues from our consumables portfolio grew 7% year over year and continued to drive consistent financial results, and revenues from consumables amounted to 77% of total revenues in the first quarter of fiscal 2017."



 

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