Heska Promotes McGinley To President

Michael McGinley has been promoted to president and COO of Heska Corp.

Heska Corp. of Loveland, Colo., has promoted Michael McGinley, Ph.D., to the position of president and chief operating officer, to be effective Jan. 1.

Dr. McGinley has been at Heska for 11 years, most recently serving as executive vice president of Global Operations and general manager of Heska’s manufacturing operations in Des Moines, Iowa.

In related news, Heska’s companion animal health division reported revenue of $18.94 million for its third quarter ended Sept. 30, compared to revenue of $15.6 million in the year-ago period.

Revenue from the company’s blood chemistry instrument, the Dri-Chem Veterinary Chemistry Analyzer, and associated consumables, were a key factor in the strong revenue growth this quarter, said Robert Grieve, Ph.D., Heska’s chairman and chief executive officer.

Year to date, the division reported revenue of $53.62 million, compared to revenue of $48.83 million in the year ago period.

The division that includes vaccine and pharmaceuticals reported revenue of $2.43 million for its third quarter, compared to revenue of $3.4 million in the year-ago period. Year to date, the division reported $11.58 million, compared to revenue of $12.26 million in the year-ago period.

Heska’s research and development reported revenue of $316,000 for its third quarter, compared to revenue of $491,000 in the year-ago period. Year to date, the division reported revenue of $1.02 million, compared to revenue of $1.2 million in the year-ago period.

Overall, the company reported net income of $577,000 on revenue of $21.69 million for its third quarter, compared to net income of $1.01 million on revenue of $19.49 million in the year-ago period. Year to date, the company reported net income of $1.02 million on revenue of $66.22 million, compared to net income of $4.44 million on revenue of $62.29 million in the year-ago period.

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