Abaxis (ABAX) Misses Q3 EPS by 1c

Abaxis (NASDAQ: ABAX) reported Q3 EPS of $0.30, $0.01 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $52.8 million versus the consensus estimate of $54.36 million.

Clint Severson, chairman and chief executive officer of Abaxis, said, "As previously announced, revenues for the quarter were essentially flat at $52.8 million compared to last year\'s third quarter, and increased 4% for the nine-month period ended December 31, 2016 as compared to last year\'s comparable period. Results for the quarter were negatively impacted by many factors, including foreign currency exchange rates, which reduced revenues by approximately $0.7 million and the reduction of medical and veterinary orders from distributors including Abbott Point of Care, Inc. and a difficult comparison for the medical business due to a large sale of Piccolo Xpress instruments in the People\'s Republic of China in the prior year quarter.

For earnings history and earnings-related data on Abaxis (ABAX) click here.

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