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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Abaxis, Inc. (delisted) | NASDAQ:ABAX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 83.00 | 82.85 | 83.01 | 0 | 01:00:00 |
California
|
000-19720
|
77-0213001
|
(State or other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02
|
Results of Operations and Financial Condition.
|
Item 8.01
|
Other Events.
|
Item 9.01
|
Financial Statements and Exhibits.
|
(d) | Exhibits. |
Exhibit No.
|
Description
|
99.1
|
Press release dated July 23, 2015
|
Date: July 23, 2015
|
|||
Abaxis, Inc.
|
|||
By:
|
/s/ Alberto R. Santa Ines
|
||
Alberto R. Santa Ines
|
|||
Vice President, Finance and Chief Financial Officer
|
Exhibit No.
|
Description
|
Press release dated July 23, 2015
|
Contact:
|
|
Abaxis, Inc.
|
Lytham Partners, LLC
|
Clint Severson, Chief Executive Officer
|
Joe Dorame, Robert Blum and Joe Diaz
|
510-675-6500
|
602-889-9700
|
• | Revenues from continuing operations of $53.1 million, up 21% over last year’s comparable quarter. |
• | Diluted EPS from continuing operations of $0.31, up 35% over last year’s comparable quarter. |
• | Diluted EPS, including discontinued operations, of $0.31, up 48% over last year’s comparable quarter. |
• | North America revenues from continuing operations of $42.3 million, up 21% over last year’s comparable quarter. |
• | International revenues of $10.8 million, up 18% over last year’s comparable quarter. |
• | Medical market revenues of $8.7 million, up 20% over last year’s comparable quarter. |
• | Veterinary market revenues of $43.6 million, up 21% over last year’s comparable quarter. |
• | Total medical and veterinary instrument revenues of $8.7 million, up 15% over last year’s comparable quarter. |
• | Total medical and veterinary instrument sales of 1,322 units, up 23% over last year’s comparable quarter. |
• | Total medical and veterinary reagent disc revenues of $30.4 million, up 13% over last year’s comparable quarter. |
• | Total medical and veterinary reagent disc sales of 2.4 million units, up 15% over last year’s comparable quarter. |
• | Gross profit from continuing operations of $29.4 million, up 24% over last year’s comparable quarter. |
• | Net income from continuing operations of $7.0 million, up 38% over last year’s comparable quarter. |
• | Cash, cash equivalents and investments of $153.0 million as of June 30, 2015. |
• | Abaxis paid dividends of $2.5 million or $0.11 per share during the first quarter of fiscal 2016. |
Three Months Ended
June 30,
|
||||||||
2015
|
2014
|
|||||||
Revenues
|
$
|
53,090
|
$
|
44,054
|
||||
Cost of revenues
|
23,698
|
20,351
|
||||||
Gross profit
|
29,392
|
23,703
|
||||||
Operating expenses:
|
||||||||
Research and development
|
4,723
|
3,947
|
||||||
Sales and marketing
|
10,586
|
8,832
|
||||||
General and administrative
|
3,458
|
2,908
|
||||||
Total operating expenses
|
18,767
|
15,687
|
||||||
Income from operations
|
10,625
|
8,016
|
||||||
Interest and other income (expense), net
|
359
|
47
|
||||||
Income from continuing operations before income tax provision
|
10,984
|
8,063
|
||||||
Income tax provision
|
3,989
|
2,989
|
||||||
Income from continuing operations
|
6,995
|
5,074
|
||||||
Discontinued operations
|
||||||||
Loss from discontinued operations, net of tax
|
-
|
(359
|
)
|
|||||
Net income
|
$
|
6,995
|
$
|
4,715
|
||||
Net income (loss) per share:
|
||||||||
Basic
|
||||||||
Continuing operations
|
$
|
0.31
|
$
|
0.23
|
||||
Discontinued operations
|
-
|
(0.02
|
)
|
|||||
Basic net income per share
|
$
|
0.31
|
$
|
0.21
|
||||
Diluted
|
||||||||
Continuing operations
|
$
|
0.31
|
$
|
0.23
|
||||
Discontinued operations
|
-
|
(0.02
|
)
|
|||||
Diluted net income per share
|
$
|
0.31
|
$
|
0.21
|
||||
Shares used in the calculation of net income per share:
|
||||||||
Weighted average common shares outstanding - basic
|
22,624
|
22,408
|
||||||
Weighted average common shares outstanding - diluted
|
22,879
|
22,637
|
||||||
Cash dividends declared per share
|
$
|
0.11
|
$
|
0.10
|
June 30,
2015
|
March 31,
2015
|
|||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
77,878
|
$
|
107,015
|
||||
Short-term investments
|
51,366
|
26,109
|
||||||
Receivables, net
|
29,245
|
29,015
|
||||||
Inventories
|
33,984
|
36,179
|
||||||
Prepaid expenses and other current assets
|
2,563
|
2,893
|
||||||
Net deferred tax assets, current
|
6,577
|
6,575
|
||||||
Current assets of discontinued operations
|
597
|
2,075
|
||||||
Total current assets
|
202,210
|
209,861
|
||||||
Long-term investments
|
23,718
|
24,181
|
||||||
Investment in unconsolidated affiliate
|
2,650
|
2,683
|
||||||
Property and equipment, net
|
26,760
|
27,316
|
||||||
Intangible assets, net
|
1,439
|
1,491
|
||||||
Net deferred tax assets, non-current
|
3,738
|
3,413
|
||||||
Non-current assets of discontinued operations
|
12
|
12
|
||||||
Other assets
|
193
|
107
|
||||||
Total assets
|
$
|
260,720
|
$
|
269,064
|
||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
5,945
|
$
|
7,277
|
||||
Accrued payroll and related expenses
|
7,683
|
11,094
|
||||||
Accrued taxes
|
3,388
|
4,829
|
||||||
Current liabilities of discontinued operations
|
511
|
5,536
|
||||||
Other accrued liabilities
|
8,542
|
9,804
|
||||||
Deferred revenue
|
1,391
|
1,322
|
||||||
Warranty reserve
|
1,322
|
1,423
|
||||||
Total current liabilities
|
28,782
|
41,285
|
||||||
Non-current liabilities:
|
||||||||
Deferred revenue
|
2,999
|
3,219
|
||||||
Warranty reserve
|
1,547
|
1,733
|
||||||
Net deferred tax liabilities
|
310
|
310
|
||||||
Notes payable, less current portion
|
455
|
480
|
||||||
Other non-current liabilities
|
1,889
|
1,843
|
||||||
Total non-current liabilities
|
7,200
|
7,585
|
||||||
Total liabilities
|
35,982
|
48,870
|
||||||
Shareholders' equity:
|
||||||||
Common stock
|
132,603
|
132,559
|
||||||
Retained earnings
|
92,144
|
87,643
|
||||||
Accumulated other comprehensive loss
|
(9
|
)
|
(8
|
)
|
||||
Total shareholders' equity
|
224,738
|
220,194
|
||||||
Total liabilities and shareholders' equity
|
$
|
260,720
|
$
|
269,064
|
Three Months Ended
June 30,
|
||||||||
Revenues by Geographic Region
|
2015
|
2014
|
||||||
North America
|
$
|
42,311
|
$
|
34,917
|
||||
International
|
10,779
|
9,137
|
||||||
Total revenues
|
$
|
53,090
|
$
|
44,054
|
||||
Three Months Ended
June 30,
|
||||||||
Revenues by Customer Group
|
2015
|
2014
|
||||||
Medical Market
|
$
|
8,684
|
$
|
7,245
|
||||
Veterinary Market
|
43,589
|
35,944
|
||||||
Other
|
817
|
865
|
||||||
Total revenues
|
$
|
53,090
|
$
|
44,054
|
1 Year Abaxis, Inc. (delisted) Chart |
1 Month Abaxis, Inc. (delisted) Chart |
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