Stock Monitor: Thermo Fisher Scientific Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 05, 2018 / Active-Investors.com has just released a free earnings report on Abaxis, Inc. (NASDAQ: ABAX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ABAX. Abaxis posted its third quarter fiscal 2018 (Q3 FY18) financial results on January 25, 2018. The leading portable blood analysis systems developers' revenue and earnings surpassed market expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Thermo Fisher Scientific Inc. (NYSE: TMO), which also belongs to the Healthcare sector as the Company Abaxis. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Abaxis most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ABAX

Earnings Highlights and Summary

During the third quarter of the fiscal year 2018, Abaxis posted net sales of $59.67 million compared to $52.77 million in Q3 FY17, reflecting an increase of 13.07%. The increase in sales was primarily due to strong growth in instrument and consumable sales and increase in revenues from the Company's segments. Foreign currency exchange fluctuations had a favorable 1.00% impact on top-line. The Company's revenue numbers beat analysts' estimates of $58.00 million.

Abaxis' gross profit was $32.18 million in Q3 FY18 compared to $29.40 million in Q3 FY17, increasing 9.43% on a y-o-y basis. The Company's selling, general, and administrative expenses (SG&A) amounted to $4.78 million in the reported quarter compared to $3.16 million in the year ago same period, increasing 51.22% on a y-o-y basis. The Company's operating income was $8.58 million in Q3 FY18 compared to $10.84 million in Q3 FY17, decreasing 20.88% on a y-o-y basis.

Abaxis's net income was $4.23 million in the reported quarter compared to $6.84 million in Q3 FY17, declining 38.25% on a y-o-y basis. The Company's earnings per share (EPS) were $0.18 in Q3 FY18 compared to $0.30 in the third quarter of the previous fiscal year. The decline was attributed to the recent enactment of the Tax Cuts and Jobs Act, as the Company incurred a tax expense of approximately $2.90 million in the reported quarter. Adjusted earnings were $0.31 in the reported quarter compared to $0.30 in Q3 FY17, increasing 3.33% on a y-o-y basis. Adjusted earnings beat analysts' estimates of $0.29 per share.

Segment Details

Abaxis's has three business segments, namely: (i) Medical Market, (ii) Veterinary Market, and (iii) Other.

The Company's Medical Market segment revenues increased 17.81% to $10.19 million in Q3 FY18 on a y-o-y basis compared to $8.65 million in Q3 FY17.

The Veterinary Market segment's revenues were $48.42 million in the reported quarter compared to $43.20 million in Q3 FY170, increasing 12.10% from the same quarter a year ago.

Other segment's revenues were $1.05 million in Q3 FY18 compared to $0.92 million in Q3 FY17, increasing 14.21% on a y-o-y basis.

On a geographical basis, the American region's net sales increased 11.81% to $46.44 million on a y-o-y basis in Q3 FY18 compared to $41.54 million in Q3 FY17. International net sales were $13.23 million in the reported quarter compared to $11.23 million in Q3 FY17, increasing 17.75% on a y-o-y basis.

Cash Matters

As on December 31, 2017, Abaxis had cash and cash equivalents of $185.00 million. The Company declared a quarterly cash dividend of $0.16 per outstanding share payable on March 15, 2018, to all stockholders of record on March 01, 2018.

Latest Corporate Update

The Company plans to launch a new urine sediment analyzer which targets a large veterinary market segment later during the fourth quarter.

Outlook

For the fiscal year 2018, the Company expects its effective tax rate to decline by 200 to 300 basis points.

Stock Performance Snapshot

February 02, 2018 - At Friday's closing bell, Abaxis' stock fell 2.85%, ending the trading session at $70.61.

Volume traded for the day: 215.34 thousand shares, which was above the 3-month average volume of 185.55 thousand shares.

Stock performance in the last month ? up 42.59%; previous three-month period ? up 47.87%; past twelve-month period ? up 38.61%; and year-to-date ? up 42.59%

After last Friday's close, Abaxis' market cap was at $1.65 billion.

Price to Earnings (P/E) ratio was at 65.44.

The stock has a dividend yield of 0.91%.

The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.

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