Abaxis Inc. Q3 Income Declines

(RTTNews) - Abaxis Inc. (ABAX) revealed earnings for third quarter that lost ground compared to the same period last year.

The company said its earnings declined to $4.23 million, or $0.18 per share. This was down from $6.84 million, or $0.30 per share, in last year's third quarter.

Analysts had expected the company to earn $0.28 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 13.1% to $59.67 million. This was up from $52.77 million last year.

Abaxis Inc. earnings at a glance:

-Earnings (Q3): $4.23 Mln. vs. $6.84 Mln. last year. -Earnings Decline (Y-o-Y): -38.2% -EPS (Q3): $0.18 vs. $0.30 last year. -EPS Decline (Y-o-Y): -40.0% -Analysts Estimate: $0.28 -Revenue (Q3): $59.67 Mln vs. $52.77 Mln last year. -Revenue Change (Y-o-Y): 13.1%