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Abaxis, Wyeth, Neogen, Schering-Plough, Pfizer, PetMed – 07-25-2008

The year-to-date sales increases for Abaxis, Wyeth, Neogen, Schering-Plough, Pfizer and PetMed.

Suggested Veterinary Products

Abaxis Inc.

Abaxis Inc.’s veterinary division recently reported revenue of $16.61 million for its first quarter ended June 30, compared to revenue of $16.44 million in the year-ago period.

Veterinary reagent disc sales for the first quarter were $10.4 million, a decrease of 6 percent from the year-ago period.

“The slow economy did have a negative effect on our veterinary reagent disc business,” said Clint Severson, chairman and chief executive officer of Abaxis. “While the comparisons over the first fiscal quarter last year were difficult due to increased veterinary reagent disc sales because of the pet food scare and the fact we announced a price increase in the last quarter of fiscal 2008, clearly the economy has been a drag on our veterinary consumable sales.

“The good news is that our Vetscan chemistry analyzer sales increased by 83 units or 25 percent over last year’s comparable quarter. Improving product quality and the fact that a Vetscan chemistry analyzer can make a veterinary practice more efficient in a difficult economy are two reasons for the increase.”

Overall, Abaxis reported net income of $2.78 million on revenue of $24.57 million for its first quarter, compared to net income of $3.1 million on revenue of $22.93 million in the year-ago period.

Abaxis is based in Union City, Calif.

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Wyeth

Wyeth’s worldwide animal health division recently reported a revenue increase of 12 percent to $313 million for the second quarter ended June 30. Year to date, the company reported a revenue increase of 6 percent to $590 million.

The increases were primarily due to higher sales of poultry products and livestock products driven by Zulvac bluetongue vaccine as well as the favorable impact of foreign exchange. Higher sales of companion animal products, including Promeris flea and tick products, contributed to the second quarter revenue increase. Partially offsetting these increases were lower sales of equine products.

Overall, Wyeth reported net income of $1.12 billion on revenue of $5.95 billion for its second quarter, compared to net income of $1.2 billion on revenue of $5.65 billion in the year-ago period.

Year to date, the company reported net income of $2.32 billion on revenue of $11.66 billion, compared to net income of $2.45 billion on revenue of $11.02 billion.

Wyeth is the parent company of Fort Dodge Animal Health, which is based in Overland Park, Kan.

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Neogen Corp.

Neogen Corp.’s animal safety division recently reported revenue of $11.52 million for its fourth quarter ended May 31, compared to revenue of $10.32 billion in the year-ago period.

Year to date, the division reported revenue of $44.75 million, compared to revenue of $39.18 million in the year-ago period.

The integration of the Kane and Rivard acquisitions contributed about $5.4 million to the fiscal year’s sales growth.

Overall, Neogen reported net income of $3.18 million on revenue of $27.12 million for its fourth quarter, compared to net income of $2.3 million on revenue of $22.68 million in the year-ago period.

Year to date, the company reported net income of $12.1 million on revenue of $102.42 million, compared to net income of $9.13 million on revenue of $86.14 million.

Neogen is based in Lansing, Mich.

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Schering-Plough Corp.

Schering-Plough Corp.’s animal health division recently reported revenue of $818 million for its second quarter ended June 30, compared to revenue of $264 million in the year-ago period, a 210 percent increase.

Year to date, the division reported revenue of $1.54 billion, compared to revenue of $496 million, a 211 percent increase.

Animal health revenue for the three and six months includes sales of $526 million and $980 million, respectively, from the animal health segment of Organon BioSciences, which was acquired in November 2007.

Revenue also benefited from solid growth in all geographic regions, including in Europe where the company recently launched a vaccine for bluetongue disease.

Animal health sales also benefited from foreign exchange.

Overall, Schering-Plough reported net income of $436 million on revenue of $4.92 billion for its second quarter, compared to net income of $539 million on revenue of $3.18 billion in the year-ago period.

Year to date, the company reported net income of $726 million on revenue of $9.58 billion, compared to net income of $1.1 billion on revenue of $6.15 billion in the year-ago period.

Schering-Plough is based in Kenilworth, N.J.

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Pfizer

Pfizer’s animal health division reported revenue of $715 million for its second quarter ended June 29, an increase of 13 percent compared with $632 million in the year-ago period.

The increase was driven by the favorable impact of foreign exchange, which increased revenue by about $50 million or 8 percent, in addition to strong global livestock and companion animal product performance.

Year to date, the division reported revenue of $1.33 billion, compared to revenue of $1.22 billion in the year-ago period.

Overall, Pfizer reported net income of $2.78 billion on revenue of $12.13 billion for its second quarter, compared to net income of $1.27 billion on revenue of $11.08 billion in the year-ago period.

Year to date, the company reported net income of $5.56 billion on revenue of $23.98 billion, compared to net income of $4.66 billion on revenue of $23.56 billion in the year-ago period.

Pfizer is based in New York.

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PetMed Express Inc.

PetMed Express Inc. of Pompano Beach, Fla., recently reported net income of $6.62 million on revenue of $68.37 million for its first quarter ended June 30, compared to net income of $6.18 million on revenue of $59.03 million in the year-ago period.

The company reported a 17 percent increase in new order sales and acquired about 267,000 new customers in the first quarter, compared to 236,000 in the year-ago period. Reorder sales increased by 16 percent, to $46.2 million for the quarter, compared to $40 million in the year-ago period.

PetMed Express plans to focus on capturing additional market share and improving reorders and customer service levels in fiscal 2009. <HOME>

Abaxis, Wyeth, Neogen, Schering-Plough, Pfizer, PetMed Abaxis Inc.’s veterinary division recently reported revenue of $16.61 million for its first quarter ended June 30, compared to revenue of $16.44 million in the year-ago period.Abaxis Inc.’s veterinary division recently reported revenue of $16.61 million for its first quarter ended June 30, compared to revenue of $16.44 million in the year-ago period.

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