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Abaxis tops 4Q profit forecasts

UNION CITY, Calif. (AP) _ Abaxis Inc. (ABAX) on Thursday reported fiscal fourth-quarter profit of $7.6 million.

On a per-share basis, the Union City, California-based company said it had profit of 33 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The maker of blood test analyzers for humans and animals posted revenue of $58.2 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $58.6 million.

For the year, the company reported profit of $32.7 million, or $1.44 per share. Revenue was reported as $227.2 million.

Abaxis shares have dropped 6.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $49.35, a climb of slightly more than 8 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ABAX at https://www.zacks.com/ap/ABAX

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Keywords: Abaxis, Earnings Report