Abaxis Inc. Reports 8% Retreat In Q1 Earnings

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

The company said its bottom line came in at $6.33 million, or $0.28 per share. This was down from $6.89 million, or $0.30 per share, in last year's first 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 1.0% to $58.26 million. This was up from $57.70 million last year.

Abaxis Inc. earnings at a glance:

-Earnings (Q1): $6.33 Mln. vs. $6.89 Mln. last year. -Earnings Decline (Y-o-Y): -8.1% -EPS (Q1): $0.28 vs. $0.30 last year. -EPS Decline (Y-o-Y): -6.7% -Analysts Estimate: $0.33 -Revenue (Q1): $58.26 Mln vs. $57.70 Mln last year. -Revenue Change (Y-o-Y): 1.0%