ABAXIS Inc. (ABAX, Financial) filed Annual Report for the period ended 2012-03-31.
Abaxis Inc has a market cap of $705.1 million; its shares were traded at around $34.25 with a P/E ratio of 55.1 and P/S ratio of 4.5. Abaxis Inc had an annual average earning growth of 20.8% over the past 10 years. GuruFocus rated Abaxis Inc the business predictability rank of 3-star.
Europe. During fiscal 2012, total revenues in Europe increased by 8%, or $1.6 million, as compared to fiscal 2011. Revenues from Piccolo chemistry analyzers and medical reagent discs increased by 4%, or $209,000, primarily due to an increase in the sales volume of medical reagent discs to various distributors, partially offset by a decrease in sales of Piccolo chemistry analyzers. Revenues from veterinary instruments increased by 29%, or $1.2 million, primarily due to an increase in the sales volume of VetScan chemistry analyzers to various distributors. Revenues from veterinary reagent discs increased by 1%, or $48,000, primarily attributable to higher Euro exchange rates during fiscal 2012, partially offset by a decrease in the sales volume primarily due to a change in ordering pattern of inventory purchases by a distributor.
Instruments. Total revenues from sales of our Piccolo chemistry analyzers increased by 31%, or $2.0 million, during fiscal 2011 as compared to fiscal 2010. The increase in revenues was primarily attributed to (a) an increase in revenues in North America (excluding the U.S. government) of 31%, or $985,000, primarily due to an increase in units sold to distributors resulting from higher sales to end users during the first nine months of fiscal 2011, and (b) an increase in revenues in Europe by 46%, or $721,000, primarily due to an increase in sales to distributors during the first six months of fiscal 2011.
During fiscal 2011, total revenues in the veterinary market increased by 17%, or $16.0 million, as compared to fiscal 2010. Total revenues from veterinary instruments increased by 6%, or $1.3 million, during fiscal 2011 as compared to fiscal 2010. Total revenues from consumables in the veterinary market increased by 21%, or $14.4 million, during fiscal 2011 as compared to fiscal 2010. Components of the change were as follows:
Total revenues from veterinary reagent discs increased by 12%, or $6.8 million, during fiscal 2011 as compared to fiscal 2010. The increase in revenues was primarily attributed to (a) an increase in revenues in North America of 13%, or $5.6 million, primarily due to an increase in units sold resulting from an expanded installed base of our VetScan chemistry analyzers and higher average selling prices, (b) an increase in revenues in Europe of 10%, or $905,000, primarily due to an increase in units sold resulting from an expanded installed base of our VetScan chemistry analyzers, and (c) an increase in revenues in Asia Pacific and rest of the world of 13%, or $283,000, primarily due to increased sales to various distributors during fiscal 2011.
Read the The complete Report
Abaxis Inc has a market cap of $705.1 million; its shares were traded at around $34.25 with a P/E ratio of 55.1 and P/S ratio of 4.5. Abaxis Inc had an annual average earning growth of 20.8% over the past 10 years. GuruFocus rated Abaxis Inc the business predictability rank of 3-star.
Highlight of Business Operations:
Research and development activities relate to development of new tests and test methods, clinical trials, product improvements and optimization and enhancement of existing products. Our research and development expenses, which consist of personnel costs, consulting expenses and materials and other related expenses, were $12.2 million, $12.0 million and $10.7 million, or 8%, 8% and 9% of our total revenues, in fiscal 2012, 2011 and 2010, respectively.Europe. During fiscal 2012, total revenues in Europe increased by 8%, or $1.6 million, as compared to fiscal 2011. Revenues from Piccolo chemistry analyzers and medical reagent discs increased by 4%, or $209,000, primarily due to an increase in the sales volume of medical reagent discs to various distributors, partially offset by a decrease in sales of Piccolo chemistry analyzers. Revenues from veterinary instruments increased by 29%, or $1.2 million, primarily due to an increase in the sales volume of VetScan chemistry analyzers to various distributors. Revenues from veterinary reagent discs increased by 1%, or $48,000, primarily attributable to higher Euro exchange rates during fiscal 2012, partially offset by a decrease in the sales volume primarily due to a change in ordering pattern of inventory purchases by a distributor.
Instruments. Total revenues from sales of our Piccolo chemistry analyzers increased by 31%, or $2.0 million, during fiscal 2011 as compared to fiscal 2010. The increase in revenues was primarily attributed to (a) an increase in revenues in North America (excluding the U.S. government) of 31%, or $985,000, primarily due to an increase in units sold to distributors resulting from higher sales to end users during the first nine months of fiscal 2011, and (b) an increase in revenues in Europe by 46%, or $721,000, primarily due to an increase in sales to distributors during the first six months of fiscal 2011.
During fiscal 2011, total revenues in the veterinary market increased by 17%, or $16.0 million, as compared to fiscal 2010. Total revenues from veterinary instruments increased by 6%, or $1.3 million, during fiscal 2011 as compared to fiscal 2010. Total revenues from consumables in the veterinary market increased by 21%, or $14.4 million, during fiscal 2011 as compared to fiscal 2010. Components of the change were as follows:
Total revenues from veterinary reagent discs increased by 12%, or $6.8 million, during fiscal 2011 as compared to fiscal 2010. The increase in revenues was primarily attributed to (a) an increase in revenues in North America of 13%, or $5.6 million, primarily due to an increase in units sold resulting from an expanded installed base of our VetScan chemistry analyzers and higher average selling prices, (b) an increase in revenues in Europe of 10%, or $905,000, primarily due to an increase in units sold resulting from an expanded installed base of our VetScan chemistry analyzers, and (c) an increase in revenues in Asia Pacific and rest of the world of 13%, or $283,000, primarily due to increased sales to various distributors during fiscal 2011.
Read the The complete Report
