Heska Corp.’s companion animal health division on May 6 reported revenue of $15.8 million in the first quarter ended March 31, compared to $18.1 million in the year-ago period.
Overall, the Loveland, Colo., company had a first-quarter net loss of $331,000 on revenue of $17.7 million. That compares to a net income of $460,000 on revenue of $20.1 million in the year-ago period.
“We knew we would face a difficult comparison this quarter as we had exclusive rights to our former handheld blood analysis instrument in the first quarter of 2009 and sold the last of our remaining inventory in this area in the first quarter of 2010,” said Robert Grieve, Heska’s chairman and CEO. “Sales of consumables in this area declined by $2.7 million on a year-over-year basis as a result. Total revenue from other core companion animal health products was up year over year.
“We also recognized a reserve of $1 million due to unexpected production issues in our OVP (other vaccines, pharmaceuticals and products) segment. We have been focused on resolving the current issue and preventing future problems.”