Abaxis Shares Soared: What You Need to Know (ABAX)

Abaxis Shares Soared: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Abaxis (Nasdaq: ABAX ) are soaring by as much as 21% today after the company reported second-quarter earnings that topped consensus estimates.

So what: The company, which provides blood diagnostic services, came in with record quarterly revenue of $40 million, and earnings per share of $0.15. Both figures bested expectations, as the market was looking for $37.9 million in sales and $0.14 in earnings per share.

Now what: Revenue showed a 13% increase, bolstered by strength in the veterinary market, which saw an 18% jump in sales. Total instrument unit sales jumped 24%, while international sales growth approached 40%. Management was particularly pleased with growth in Europe and Asia and saw the results in those regions as positive signs of future prospects.

Interested in more info on Abaxis? Add it to your watchlist by clicking here.

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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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