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$15.46 -1.79 (-10.38%)
1/7/2009 4:00 PM

Abaxis, Inc. (ABAX)

CAPS Rating:
***

The Company develops, manufactures and markets portable blood analysis systems for use in any veterinary or human patient-care setting to provide clinicians with rapid blood constituent measurements.

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Avatar longshort87 (48.24) Submitted: 1/06/08 2:50 PM : Outperform Start Price: $33.22 ABAX Score: -17.40

Abaxis has a solid niche in the veterinary point-of-care diagnostics business augmented by an open-ended growth opportunity in human point-of-care diagnostics thanks to its unique Piccolo Xpress machine. The business model is classic razor-and-blade, with the machines (razors) selling at about a 50% gross margin, while the routers (blades) sell for closer to a 70% GM. There remains room for expansion of GMs, primarily on the router side, and new distribution contracts should improve volumes, along with CLIA waivers for multiple diagnostic tests.

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