Blood analysis systems company Abaxis Inc. said Thursday its third-quarter profit rose 15 percent, but shares plunged in after-hours trading as the results missed Wall Street expectations.
Shares of Abaxis fell $2.55, or 7.8 percent, to $30 in after-hours trading. The stock fell 91 cents, or 2.7 percent, to close at $32.55 in regular trading.
The company earned $3.2 million, or 14 cents per share, compared with profit of $2.8 million, or 13 cents per share, during the same period a year prior. Revenue rose 17 percent to $25.7 million from $22 million.
Abaxis' 2008 fiscal third-quarter ended Dec. 31.
Meanwhile, analysts polled by Thomson Financial expected profit of 16 cents per share on revenue of $26.5 million.
During the quarter, the company said it sold just over 1 million medical and veterinary discs, marking a 21 percent jump.
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