Abaxis, Inc. (ABAX)

Abaxis 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. The system consists of a compact, 5.1 kilogram (11.2 pounds), portable analyzer and a series of single-use plastic discs, called reagent discs that contain all the chemicals required to perform a panel of up to 13 tests on veterinary patients and 14 tests on human patients. The system can be operated with minimal training and performs multiple routine tests on whole blood, serum or plasma samples. The system provides test results in less than 12 minutes with the precision
and accuracy equivalent to a clinical laboratory analyzer.
6/30/09 Quarterly highlights include:
-- Revenues of $29.6 million, up 21% over last year's comparable
quarter.
-- Veterinary market sales of $21.8 million, up 31% over last year's
comparable quarter.
-- North America revenues of $24.1 million, up 19% over last year's
comparable quarter.
-- International revenues of $5.5 million, up 29% over last year's
comparable quarter.
-- Medical and veterinary reagent disc sales of $18.4 million, up 31% over
last year's comparable quarter.
-- Gross profit of $17.2 million, up 27% over last year's comparable
quarter.
-- Operating income of $5.7 million, up 42% over last year's
comparable quarter.

-- Net income of $3.8 million, up 35% over last year's comparable
quarter.