Heska (HSKA) Misses Q1 EPS by 7c

Heska (NASDAQ: HSKA) reported Q1 EPS of $0.28, $0.07 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $32.8 million versus the consensus estimate of $32.3 million.

Kevin Wilson, Heska\'s Chief Executive Officer and President, commented, \"The first quarter of 2018 was a solid quarter that slightly exceeded my expectations. Point of Care Laboratory Consumables rose 17%, imaging outperformed with 33% growth, and we are tracking towards our 1.5% to 2.0% market share gains in Point of Care Laboratory hospitals. Margins were up in CCA by 1 percentage point driven by our highest margin and fastest growing Point of Care Laboratory (up 1.4 percentage points) and Imaging (up 3.8 percentage points) business lines, which were offset by a large, 3% margin shipment of contractual manufacturing product in our OVP segment. We continue to see OVP achieving our prior full year outlook for approximately 20% gross margins, with higher margin shipments skewed to the second half and we continue to anticipate gross margin expansion for the whole Heska business in 2018.\"

\"Veterinary market indicators continue to point to a strong environment for the rest of 2018,\" added Mr. Wilson. \"Aided by this trend and a solid beginning to the year, we expect 2018 to progress as expected commercially, while also being the period in which several new product and market expansion initiatives solidify towards release. To this end, we are ramping up our investments in research and development, recruitment of key talent, commercial team density, and operations, finance, and legal systems. Our investments, growth initiatives, and additional details surrounding our strong Reset subscriptions model will be more fully explained during our upcoming Investor Day in New York on May 15th. We hope to see you there or to have your participation by our webcasting feed.\"

For earnings history and earnings-related data on Heska (HSKA) click here.

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