UNION CITY, Calif.,
April 30, 2015 /PRNewswire/ --
Abaxis, Inc. (NasdaqGS: ABAX), a medical products company
manufacturing point-of-care blood analysis systems, today reported
financial results for the fourth quarter and fiscal year ended
March 31, 2015.
Fourth quarter and fiscal 2015 overview:
- Revenues from continuing operations of $52.0 million for the fourth quarter, up 33% over
last year's comparable quarter, and $202.6
million for fiscal 2015, up 25% year-over-year.
- Diluted EPS of $0.50 for the
fourth quarter, up 194% over last year's comparable quarter, and
$1.20 for fiscal 2015, up 90%
year-over-year. Diluted EPS for the fourth quarter and full
fiscal year ended March 31, 2015
includes the effect of the gain on sale of Abaxis' AVRL business
unit, as further described in "Discontinued Operations" below.
Revenues highlights:
- North America revenues from
continuing operations for the fourth quarter of $41.8 million, up 39% over last year's comparable
quarter, and $163.3 million for
fiscal 2015, up 29% year-over-year.
- International revenues for the fourth quarter of $10.2 million, up 11% over last year's comparable
quarter, and $39.3 million for fiscal
2015, up 11% year-over-year.
- Medical market revenues for the fourth quarter of $8.7
million, up 22% over last year's comparable quarter, and
$35.4 million for fiscal 2015, up 26%
year-over-year.
- Veterinary market revenues for the fourth quarter of
$42.6 million, up 36% over last
year's comparable quarter, and $164.0
million for fiscal 2015, up 25% year-over-year.
- Total medical and veterinary instrument revenues for the fourth
quarter of $11.7 million, up 63% over
last year's comparable quarter, and $48.6
million for fiscal 2015, up 30% year-over-year.
- Total medical and veterinary instrument sales of 1,536 units
for the fourth quarter, up 45% over last year's comparable quarter,
and 6,791 units for fiscal 2015, up 28% year-over-year.
- Total medical and veterinary reagent disc revenues for the
fourth quarter of $29.3 million, up
24% over last year's comparable quarter, and $111.1 million for fiscal 2015, up 24%
year-over-year.
- Total medical and veterinary reagent disc sales of 2.3 million
units for the fourth quarter, up 23% over last year's comparable
quarter, and 8.5 million units for fiscal 2015, up 22%
year-over-year.
Other financial highlights:
- Gross profit from continuing operations of $28.4 million for the fourth quarter, up 35% over
last year's comparable quarter, and $109.0
million for fiscal 2015, up 30% year-over-year.
- Cash, cash equivalents and investments as of March 31, 2015 of $157.3
million, an increase of $36.1
million from March 31,
2014.
- Abaxis paid dividends of $9.0
million in fiscal 2015.
Clint Severson, chairman and
chief executive officer of Abaxis, added, "The fourth quarter was
strong and continued the trend of the previous three quarters of
the year, making fiscal 2015 an excellent year for Abaxis. We
generated strong revenue growth, culminating in record revenues
from continuing operations for the fiscal year of $202.6 million. In our veterinary market
segment, the growth was driven in North
America as revenues from sales of our VetScan VS2
instruments and consumables increased by 56% and 32%, respectively,
year-over-year. In our medical market segment, revenues from
sales of Piccolo products continued to gain traction with strong
double-digit growth in the fourth quarter and the fiscal
year. Although in the European market, unit sales of our
Piccolo and VetScan VS2 products increased, we faced challenges
from global economic uncertainties, especially from the effect of a
strong U.S. dollar on the remeasurement of foreign-denominated
sales into dollars as we recorded a loss on foreign currency of
$1.8 million during fiscal
2015."
"The operational and financial results generated this year are a
testament to the focus and dedication of the entire Abaxis team,"
continued Mr. Severson. "We have initiated a number of
strategic changes over the past few years to make Abaxis more
efficient and more responsive to our markets. Our employees
have stepped up to the challenge and the results are beginning to
reflect those efforts. As a result, we successfully obtained
regulatory clearance on a number of rapid tests and expanded our
national distribution network in the veterinary market.
Additionally, our distribution partners have also responded
positively by penetrating the market to a greater extent as they
have become increasingly more aware of the features and benefits of
our diagnostic products."
"In fiscal 2015, we invested in research and development to
develop new products to lead us into the future. At the end
of fiscal 2015, we continue to maintain a strong financial base
with cash, cash equivalents and investments of $157.3 million. As we move into fiscal
2016, we believe we are well positioned to continue to build on
this positive trend and leverage our strategic partnerships to
drive growth and market share. "
Dividend Declared
Abaxis today announced that its Board of Directors declared an
increase in the quarterly dividend from $0.10 to $0.11 per
common share, to be paid on June 18,
2015, to all shareholders of record as of the close of
business on June 4, 2015. This
represents a 10% increase compared to the prior quarterly
dividend.
Results of Continuing Operations
Quarterly Results
For the fiscal quarter ended March 31,
2015, Abaxis reported revenues from continuing operations of
$52.0 million, as compared with
revenues of $39.2 million for the
comparable period last year, an increase of 33 percent.
Revenues from sales of instruments, which include chemistry
analyzers, hematology instruments, VSpro specialty analyzers
and i‑STAT analyzers, increased by $4.5
million, or 63 percent, compared to the same period last
year. Revenues from sales of consumables, which include
reagent discs, hematology reagent kits, VSpro specialty
cartridges, i‑STAT cartridges and rapid tests, increased by
$7.7 million, or 25 percent, compared
to the same period last year. Abaxis reported net income from
continuing operations of $3.8 million
for the fiscal quarter ended March 31,
2015, compared to $4.1 million
for the fiscal quarter ended March
31, 2014. Abaxis' effective tax rate in the quarter
ended March 31, 2015 was 42 percent,
compared to 36 percent for the same period last year. The
effective tax rate for the fourth quarter of fiscal 2015 was
negatively impacted in part from non-recurring non-deductible
expenses incurred during the period. Abaxis reported diluted
net income per share from continuing operations of $0.17 (calculated based on 22,870,000 shares) for
the three-month period ended March 31,
2015, compared to $0.19 per
share (calculated based on 22,547,000 shares) for the same period
last year.
Fiscal 2015 Results
For the fiscal year ended March 31,
2015, Abaxis reported revenues from continuing operations of
$202.6 million, as compared with
revenues of $162.0 million for the
prior year, an increase of 25 percent. Revenues from
instrument sales increased by $11.1
million, or 30 percent, over the prior year. Revenues
from sales of consumables increased by $26.9
million, or 23 percent, over the prior year. The
company reported net income from continuing operations of
$20.8 million for fiscal 2015,
compared to $16.2 million for the
prior year. The company's effective tax rate in fiscal 2015
was 37 percent, compared to 36 percent for the prior year.
The company reported diluted net income per share from continuing
operations of $0.91 (calculated based
on 22,787,000 shares) for fiscal 2015, compared to $0.72 per share (calculated based on 22,575,000
shares) for fiscal 2014.
Other Reported Information
Non-cash compensation expense recognized for share-based awards
during the fourth quarter of fiscal 2015 was $2.6 million, compared to $1.9 million for the same period last year.
Abaxis paid $2.3 million in cash
dividends to shareholders during the fourth quarter of fiscal
2015.
Discontinued Operations
On March 18, 2015, we entered into
an Asset Purchase Agreement with Antech Diagnostics, Inc. pursuant
to which we sold substantially all of the assets of our Abaxis
Veterinary Reference Laboratories ("AVRL") business. The
transaction closed on March 31,
2015. The total purchase price under the Agreement is
$21.0 million in cash. We
received $20.1 million in cash
proceeds during the fourth quarter of fiscal 2015, while the
remaining $0.9 million is being held
in escrow until certain conditions are met, upon which proceeds may
be released on the one year anniversary of the closing.
The sale of our AVRL business unit, which was previously
reported within our veterinary market segment, resulted in a
pre-tax gain of $12.3 million
($7.7 million after-tax) for the
fiscal year ended March 31,
2015. The pre-tax gain on this sale reflects the excess of
the sum of the cash proceeds received over the costs incurred in
connection with the sale of AVRL. During the fourth quarter
of fiscal 2015, we recorded costs of $7.8
million related to cash payments for employee-related costs,
including costs for severance, contract termination and other
associated costs, and a non-cash charge for the impairment of fixed
assets and other assets. These costs partially offsets the
cash proceeds that the Company received in accordance with the
terms of the Agreement.
Conference Call
Abaxis has scheduled a conference call to discuss its financial
results at 4:15 p.m. Eastern Time on
Thursday, April 30, 2015.
Participants can dial (877) 317-6789 or (412) 317-6789 to access
the conference call, or can listen via a live Internet webcast,
which is available in the Investor Relations section of the
company's website at http://www.abaxis.com. A replay of the
call will be available by visiting http://www.abaxis.com for the
next 30 days or by calling (877) 344-7529 or (412) 317-0088,
confirmation code 10064238, through May
6, 2015. This press release is also available prior to
and after the call via Abaxis' website or the Securities and
Exchange Commission's website at http://www.sec.gov.
About Abaxis
Abaxis, Inc. is a worldwide developer, manufacturer and marketer
of portable blood analysis systems that are used in a broad range
of medical specialties in human or veterinary patient care to
provide clinicians with rapid blood constituent measurements.
Our mission is to improve the efficiency of care delivery to and
the quality of life of patients in the medical and veterinary
markets. We provide leading edge technology, tools and
services that support best medical practices, enabling physicians
and veterinarians to respond to the health needs of their clients
at the point of care while operating economical and profitable
practices. For more information, visit
http://www.abaxis.com.
Forward Looking Statements
This press release includes, and our conference call will
include, statements that constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "Reform Act"), including but not limited to statements
related to Abaxis' cash position, financial resources and potential
for future growth, market acceptance and penetration of new or
planned product offerings, and future recurring revenues and
results of operations. Abaxis claims the protection of the
safe-harbor for forward-looking statements contained in the Reform
Act. These forward-looking statements are often characterized
by the terms "may," "believes," "projects," "expects,"
"anticipates," or words of similar import, and do not reflect
historical facts. Specific forward-looking statements
contained in this press release or in Abaxis' conference call may
be affected by risks and uncertainties, including, but not limited
to, those related to risks related to the transition of its U.S.
medical sales to Abbott, potential excess inventory levels and
inventory imbalances at the company's distributors, losses or
system failures with respect to Abaxis' facilities or manufacturing
operations, the effect of exchange rate fluctuations on
international operations, fluctuations in quarterly operating
results, dependence on sole suppliers, the market acceptance of
Abaxis' products and services, the continuing development of its
products, required United States Food and Drug Administration
clearance and other government approvals, risks associated with
manufacturing and distributing its products on a commercial scale
free of defects, risks related to the introduction of new
instruments manufactured by third parties, risks associated 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 and
risks related to condition of the United
States economy. Readers should also refer to the
section entitled "Risk Factors" in Abaxis' annual report on Form
10‑K, and subsequently filed quarterly reports on Form 10‑Q filed
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 to Follow
ABAXIS,
INC.
|
Condensed
Consolidated Statements of Income
|
(Unaudited)
|
(In thousands,
except per share data)
|
(All prior periods
have been recast to reflect AVRL business unit as discontinued
operations.)
|
|
|
|
|
Three Months
Ended
|
Twelve Months
Ended
|
|
March
31,
|
March
31,
|
|
2015
|
2014
|
2015
|
2014
|
Revenues
|
$ 52,017
|
$ 39,216
|
$ 202,593
|
$ 162,031
|
Cost of
revenues
|
23,609
|
18,227
|
93,623
|
78,081
|
Gross
profit
|
28,408
|
20,989
|
108,970
|
83,950
|
Operating
expenses:
|
|
|
|
|
Research
and development
|
4,563
|
3,460
|
16,327
|
13,647
|
Sales
and marketing
|
11,954
|
8,036
|
42,147
|
34,742
|
General
and administrative
|
4,717
|
3,017
|
16,192
|
11,333
|
Total operating
expenses
|
21,234
|
14,513
|
74,666
|
59,722
|
Income from
operations
|
7,174
|
6,476
|
34,304
|
24,228
|
Interest and other
income (expense), net
|
(667)
|
(2)
|
(1,262)
|
994
|
Income from
continuing operations before income tax provision
|
6,507
|
6,474
|
33,042
|
25,222
|
Income tax
provision
|
2,705
|
2,340
|
12,239
|
8,993
|
Income from
continuing operations
|
3,802
|
4,134
|
20,803
|
16,229
|
Discontinued
operations:
|
|
|
|
|
Loss from
discontinued operations, net of tax (1)
|
(153)
|
(396)
|
(1,154)
|
(2,044)
|
Gain on sale
of discontinued operations, net of tax (1)
|
7,682
|
-
|
7,682
|
-
|
Net income
|
$ 11,331
|
$ 3,738
|
$ 27,331
|
$ 14,185
|
|
|
|
|
|
Net income (loss) per
share
|
|
|
|
|
Basic
|
|
|
|
|
Continuing operations
|
$ 0.17
|
$ 0.19
|
$
0.92
|
$
0.73
|
Discontinued operations
|
0.33
|
(0.02)
|
0.29
|
(0.09)
|
Basic net
income per share
|
$ 0.50
|
$ 0.17
|
$
1.21
|
$
0.64
|
|
|
|
|
|
Diluted
|
|
|
|
|
Continuing operations
|
$ 0.17
|
$ 0.19
|
$
0.91
|
$
0.72
|
Discontinued operations
|
0.33
|
(0.02)
|
0.29
|
(0.09)
|
Diluted net
income per share
|
$ 0.50
|
$ 0.17
|
$
1.20
|
$
0.63
|
|
|
|
|
|
Weighted average
shares outstanding
|
|
|
|
|
Basic
|
22,538
|
22,272
|
22,497
|
22,270
|
Diluted
|
22,870
|
22,547
|
22,787
|
22,575
|
|
|
|
|
|
Cash dividends
declared per share
|
$ 0.10
|
$
-
|
$
0.40
|
$
-
|
|
|
|
|
|
(1)
|
Represents the AVRL
business within our veterinary market segment, which was sold
during the fourth quarter of fiscal 2015.
|
ABAXIS,
INC.
|
Condensed
Consolidated Balance Sheets
|
(Unaudited and in
thousands)
|
|
|
|
|
March
31,
|
March
31,
|
|
2015
|
2014
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
$ 107,015
|
$ 73,589
|
Short-term
investments
|
26,109
|
29,102
|
Receivables,
net
|
29,015
|
27,253
|
Inventories
|
36,179
|
26,583
|
Prepaid
expenses and other current assets
|
2,893
|
2,347
|
Net deferred
tax assets, current
|
6,575
|
4,464
|
Current assets
of discontinued operations
|
2,075
|
2,474
|
Total
current assets
|
209,861
|
165,812
|
Long-term
investments
|
24,181
|
18,491
|
Investment in
unconsolidated affiliate
|
2,683
|
2,646
|
Property and
equipment, net
|
27,316
|
24,191
|
Intangible assets,
net
|
1,491
|
1,200
|
Net deferred tax
assets, non-current
|
3,413
|
1,557
|
Long-term assets of
discontinued operations
|
12
|
3,431
|
Other
assets
|
107
|
52
|
Total
assets
|
$ 269,064
|
$ 217,380
|
|
|
|
Current
liabilities:
|
|
|
Accounts
payable
|
$ 7,277
|
$ 5,525
|
Accrued payroll
and related expenses
|
11,094
|
4,372
|
Accrued
taxes
|
4,829
|
1,144
|
Current
liabilities of discontinued operations
|
5,536
|
879
|
Other accrued
liabilities
|
9,804
|
3,084
|
Deferred
revenue
|
1,322
|
1,208
|
Warranty
reserve
|
1,423
|
1,047
|
Total
current liabilities
|
41,285
|
17,259
|
Non-current
liabilities:
|
|
|
Deferred
revenue
|
3,219
|
4,035
|
Warranty
reserve
|
1,733
|
821
|
Net deferred
tax liabilities
|
310
|
-
|
Non-current
liabilities of discontinued operations
|
-
|
16
|
Notes payable,
less current portion
|
480
|
581
|
Other
non-current liabilities
|
1,843
|
752
|
Total
non-current liabilities
|
7,585
|
6,205
|
Total
liabilities
|
48,870
|
23,464
|
Shareholders'
equity:
|
|
|
Common
stock
|
132,559
|
124,603
|
Retained
earnings
|
87,643
|
69,318
|
Accumulated
other comprehensive loss
|
(8)
|
(5)
|
Total
shareholders' equity
|
220,194
|
193,916
|
Total
liabilities and shareholders' equity
|
$ 269,064
|
$ 217,380
|
|
|
|
Revenues by
Geographic Region and Customer Group
|
(Unaudited)
|
(In
thousands)
|
|
The following table
presents our revenues by source for the three and twelve months
ended March 31, 2015 and 2014.
|
|
|
|
|
Three Months
Ended
|
Twelve Months
Ended
|
|
March
31,
|
March
31,
|
Revenues by
Geographic Region
|
2015
|
2014
|
2015
|
2014
|
North
America
|
$ 41,776
|
$ 30,010
|
$ 163,308
|
$ 126,768
|
International
|
10,241
|
9,206
|
39,285
|
35,263
|
Total
revenues
|
$ 52,017
|
$ 39,216
|
$ 202,593
|
$ 162,031
|
|
|
|
|
|
|
Three Months
Ended
|
Twelve Months
Ended
|
|
March
31,
|
March
31,
|
Revenues by
Customer Group
|
2015
|
2014
|
2015
|
2014
|
Medical
Market
|
$ 8,657
|
$ 7,069
|
$ 35,364
|
$ 28,134
|
Veterinary
Market
|
42,564
|
31,381
|
164,018
|
130,859
|
Other
|
796
|
766
|
3,211
|
3,038
|
Total
revenues
|
$ 52,017
|
$ 39,216
|
$ 202,593
|
$ 162,031
|
|
|
|
|
|
The following schedules present certain financial information to
reflect the reclassification of the AVRL business unit within our
veterinary market segment as discontinued operations:
Quarterly
Reclassification of Fiscal Year 2015 for Discontinued
Operations
|
(Unaudited)
|
(In thousands,
except per share data)
|
|
|
|
|
|
|
|
First
|
Second
|
Third
|
Fourth
|
Fiscal
2015
|
Revenues
|
$ 44,054
|
$ 50,471
|
$ 56,051
|
$ 52,017
|
$ 202,593
|
Cost of
revenues
|
20,351
|
22,395
|
27,268
|
23,609
|
93,623
|
Gross
profit
|
23,703
|
28,076
|
28,783
|
28,408
|
108,970
|
Operating
expenses:
|
|
|
|
|
|
Research
and development
|
3,947
|
4,232
|
3,585
|
4,563
|
16,327
|
Sales
and marketing
|
8,832
|
10,619
|
10,742
|
11,954
|
42,147
|
General
and administrative
|
2,908
|
3,797
|
4,770
|
4,717
|
16,192
|
Total operating
expenses
|
15,687
|
18,648
|
19,097
|
21,234
|
74,666
|
Income from
operations
|
8,016
|
9,428
|
9,686
|
7,174
|
34,304
|
Interest and other
income (expense), net
|
47
|
(445)
|
(197)
|
(667)
|
(1,262)
|
Income from
continuing operations before income tax provision
|
8,063
|
8,983
|
9,489
|
6,507
|
33,042
|
Income tax
provision
|
2,989
|
3,271
|
3,274
|
2,705
|
12,239
|
Income from
continuing operations
|
5,074
|
5,712
|
6,215
|
3,802
|
20,803
|
Discontinued
operations:
|
|
|
|
|
|
Loss from
discontinued operations, net of tax
|
(359)
|
(312)
|
(330)
|
(153)
|
(1,154)
|
Gain on sale
of discontinued operations, net of tax
|
-
|
-
|
-
|
7,682
|
7,682
|
Net income
|
$ 4,715
|
$ 5,400
|
$ 5,885
|
$ 1,331
|
$
27,331
|
|
|
|
|
|
|
Net income (loss) per
share
|
|
|
|
|
|
Basic
|
|
|
|
|
|
Continuing operations
|
$ 0.23
|
$ 0.25
|
$ 0.27
|
$ 0.17
|
$
0.92
|
Discontinued operations
|
(0.02)
|
(0.01)
|
(0.01)
|
0.33
|
0.29
|
Basic net
income per share
|
$ 0.21
|
$ 0.24
|
$ 0.26
|
$ 0.50
|
$
1.21
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
Continuing operations
|
$ 0.23
|
$ 0.25
|
$ 0.27
|
$ 0.17
|
$
0.91
|
Discontinued operations
|
(0.02)
|
(0.01)
|
(0.01)
|
0.33
|
0.29
|
Diluted net
income per share
|
$ 0.21
|
$ 0.24
|
$ 0.26
|
$ 0.50
|
$
1.20
|
|
|
|
|
|
|
Weighted average
shares outstanding
|
|
|
|
|
|
Basic
|
22,408
|
22,507
|
22,533
|
22,538
|
22,497
|
Diluted
|
22,637
|
22,690
|
22,756
|
22,870
|
22,787
|
|
|
|
|
|
|
Cash dividends
declared per share
|
$ 0.10
|
$ 0.10
|
$ 0.10
|
$ 0.10
|
$
0.40
|
|
|
|
|
|
|
Revenues by
Customer Group
|
|
|
|
|
|
Medical
Market
|
$ 7,245
|
$ 7,616
|
$ 11,846
|
$ 8,657
|
$
35,364
|
Veterinary
Market
|
35,944
|
42,096
|
43,414
|
42,564
|
164,018
|
Other
|
865
|
759
|
791
|
796
|
3,211
|
Total
revenues
|
$ 44,054
|
$ 50,471
|
$ 56,051
|
$ 52,017
|
$ 202,593
|
|
|
|
|
|
|
Revenues by
Product Category
|
|
|
|
|
|
Instruments
|
$ 7,594
|
$ 10,105
|
$ 19,242
|
$ 11,708
|
$
48,649
|
Consumables
|
34,286
|
38,138
|
34,232
|
37,790
|
144,446
|
Other
products
|
2,137
|
2,191
|
2,539
|
2,481
|
9,348
|
Product revenues,
net
|
44,017
|
50,434
|
56,013
|
51,979
|
202,443
|
Development and
licensing revenue
|
37
|
37
|
38
|
38
|
150
|
Total
revenues
|
$ 44,054
|
$ 50,471
|
$ 56,051
|
$ 52,017
|
$ 202,593
|
|
|
|
|
|
|
Quarterly
Reclassification of Fiscal Year 2014 for Discontinued
Operations
|
(Unaudited)
|
(In thousands,
except per share data)
|
|
|
|
|
|
|
|
First
|
Second
|
Third
|
Fourth
|
Fiscal
2014
|
Revenues
|
$ 40,956
|
$ 43,541
|
$ 38,318
|
$ 39,216
|
$ 162,031
|
Cost of
revenues
|
19,586
|
21,365
|
18,903
|
18,227
|
78,081
|
Gross
profit
|
21,370
|
22,176
|
19,415
|
20,989
|
83,950
|
Operating
expenses:
|
|
|
|
|
|
Research
and development
|
3,173
|
3,418
|
3,596
|
3,460
|
13,647
|
Sales
and marketing
|
9,378
|
9,276
|
8,052
|
8,036
|
34,742
|
General
and administrative
|
3,055
|
2,853
|
2,408
|
3,017
|
11,333
|
Total operating
expenses
|
15,606
|
15,547
|
14,056
|
14,513
|
59,722
|
Income from
operations
|
5,764
|
6,629
|
5,359
|
6,476
|
24,228
|
Interest and other
income (expense), net
|
404
|
357
|
235
|
(2)
|
994
|
Income from
continuing operations before income tax provision
|
6,168
|
6,986
|
5,594
|
6,474
|
25,222
|
Income tax
provision
|
2,236
|
2,504
|
1,913
|
2,340
|
8,993
|
Income from
continuing operations
|
3,932
|
4,482
|
3,681
|
4,134
|
16,229
|
Discontinued
operations:
|
|
|
|
|
|
Loss from
discontinued operations, net of tax
|
(703)
|
(486)
|
(459)
|
(396)
|
(2,044)
|
Gain on sale
of discontinued operations, net of tax
|
-
|
-
|
-
|
-
|
-
|
Net income
|
$ 3,229
|
$ 3,996
|
$ 3,222
|
$ 3,738
|
$
14,185
|
|
|
|
|
|
|
Net income (loss) per
share
|
|
|
|
|
|
Basic
|
|
|
|
|
|
Continuing operations
|
$ 0.18
|
$ 0.20
|
$ 0.16
|
$ 0.19
|
$
0.73
|
Discontinued operations
|
(0.03)
|
(0.02)
|
(0.02)
|
(0.02)
|
(0.09)
|
Basic net
income per share
|
$ 0.15
|
$ 0.18
|
$ 0.14
|
$ 0.17
|
$
0.64
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
Continuing operations
|
$ 0.17
|
$ 0.20
|
$ 0.16
|
$ 0.19
|
$
0.72
|
Discontinued operations
|
(0.03)
|
(0.02)
|
(0.02)
|
(0.02)
|
(0.09)
|
Diluted net
income per share
|
$ 0.14
|
$ 0.18
|
$ 0.14
|
$ 0.17
|
$
0.63
|
|
|
|
|
|
|
Weighted average
shares outstanding
|
|
|
|
|
|
Basic
|
22,229
|
22,306
|
22,271
|
22,272
|
22,270
|
Diluted
|
22,571
|
22,574
|
22,500
|
22,547
|
22,575
|
|
|
|
|
|
|
Revenues by
Customer Group
|
|
|
|
|
|
Medical
Market
|
$ 6,038
|
$ 7,177
|
$ 7,850
|
$ 7,069
|
$
28,134
|
Veterinary
Market
|
34,158
|
35,605
|
29,715
|
31,381
|
130,859
|
Other
|
760
|
759
|
753
|
766
|
3,038
|
Total
revenues
|
$ 40,956
|
$ 43,541
|
$ 38,318
|
$ 39,216
|
$ 162,031
|
|
|
|
|
|
|
Revenues by
Product Category
|
|
|
|
|
|
Instruments
|
$ 8,675
|
$ 13,537
|
$ 8,161
|
$ 7,166
|
$
37,539
|
Consumables
|
30,599
|
28,699
|
28,096
|
30,139
|
117,533
|
Other
products
|
1,645
|
1,267
|
2,023
|
1,874
|
6,809
|
Product revenues,
net
|
40,919
|
43,503
|
38,280
|
39,179
|
161,881
|
Development and
licensing revenue
|
37
|
38
|
38
|
37
|
150
|
Total
revenues
|
$ 40,956
|
$ 43,541
|
$ 38,318
|
$ 39,216
|
$ 162,031
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/abaxis-reports-financial-performance-for-the-fourth-quarter-and-fiscal-2015-and-declares-a-10-increase-in-quarterly-cash-dividend-300075263.html
SOURCE Abaxis, Inc.