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