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Abaxis Earnings - Recent Correction Offers Buying Opportunity

Abaxis (ABAX) reported fiscal 2015 third-quarter revenue of $59.5 million, up 46% year-over-year. The company's net income was $5.9 million or 26 cents per diluted share during the quarter, up 86% year-over-year and 8% sequentially. The company's veterinary revenue in the third quarter was $46.9 million, up 46% year-over-year, and medical revenue was $11.8 million, up 51% year-over-year. The company's instrument revenues from sales of chemistry analyzers, hematology instruments, VSpro specialty analyzers and i-STAT analyzers were $19.2 million, up 136% from the prior-year period. Its reagent disc revenues from medical and veterinary markets together were $26.9 million, up 20% from the year-ago quarter.

In the original article in which I shared my investment thesis on the company I said that Abaxis' revenues will start growing steadily for a prolonged period of five to seven years once its international expansion and product portfolio reallocation are complete and the joint ventures start… Read More …