Abaxis (ABAX) Misses Earnings & Revenue Estimates In Q1
Zacks Investment Research | Jul 27, 2017 11:15PM ET
Abaxis, Inc. (NASDAQ:ABAX) – a global provider of point-of-care blood analyzers – reported first-quarter fiscal 2018 adjusted earnings per share of 28 cents, below the Zacks Consensus Estimate of 32 cents. Also, it was also 6.7% below the year-ago figure.
Total Revenue
In the fiscal first quarter, Abaxis recorded revenues of $58.3 million, an increase of $0.56 million or 0.9% from a year ago. The top line however missed the Zacks Consensus Estimate of $61 million. According to the company, foreign currency exchange rate fluctuations had a negligible or 0.5% impact on Abaxis’ top line.
Segments in Detail
In the quarter, on a geographic basis, revenues from North America (accounting for 80.6% of total revenue) grew 0.4% to $46.9 million. Revenues from the international markets (accounting for the rest) improved 3.4% to $11.3 million.
Abaxis operates through three main segments, namely, Veterinary, Medical and Other. In the reported quarter, Veterinary sales accounted for 83% of total sales, Medical sales contributed 15.2% while the remaining 1.8% was generated from Other.
ABAXIS, Inc. Price, Consensus and EPS Surprise
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