Abaxis Veterinary Market Sales Up 19%

Abaxis Inc. has reported a 19% increase in market sales.

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Abaxis Inc.’s veterinary market reported revenue of $16.31 million for its third quarter ended Dec. 31, compared to revenue of $13.74 million in the year-ago period.

Veterinary reagent disc sales for the third quarter were $8.7 million, an increase of 13 percent in the year-ago period.

Year to date, the division reported revenue of $47.01 million, compared to revenue of $38.45 million in the year-ago period.

Overall, Abaxis reported net income of $2.78 million on revenue of $22.02 million for its third quarter, compared to net income of $1.85 million on revenue of $17.44 million in the year-ago period.

Year to date, the company reported net income of $7.29 million on revenue of $63.41 million, compared to net income of $5.15 million on revenue of $49.13 million in the year-ago period.

Abaxis also reported a 42 percent revenue growth in its international revenue, compared to last year’s third quarter, and a 47 percent international revenue growth year to date. International sales now account for 17 percent of the company’s total revenue.

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