Abaxis Inc. Reveals 9% Drop In Q4 Profit

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

The company said its profit totaled $7.54 million, or $0.33 per share. This was down from $8.30 million, or $0.36 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.33 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.2% to $58.20 million. This was up from $56.96 million last year.

Abaxis Inc. earnings at a glance:

-Earnings (Q4): $7.54 Mln. vs. $8.30 Mln. last year. -Earnings Decline (Y-o-Y): -9.2% -EPS (Q4): $0.33 vs. $0.36 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $0.33 -Revenue (Q4): $58.20 Mln vs. $56.96 Mln last year. -Revenue Change (Y-o-Y): 2.2%