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What: Shares of medical products maker Abaxis
So what: Abaxis proved this morning that while blood analysis kits may sound boring, they are quite profitable. Total revenue for the fourth quarter rose 14% to $42.7 million and was highlighted by a 16% boost in North American revenue and a 19% jump in veterinary market sales. Total profit for the quarter came in at $0.21, $0.05 higher than Wall Street had expected, and also benefiting from a lower effective tax rate.
Now what: I've said it before and I'll say it again: Medical products are a great place to position yourself over the long term since the demand in this sector is only going to increase. With strong growth in North America and in the veterinary market, as well as significant growth opportunities still present internationally, I feel Abaxis shareholders stand to be rewarded nicely over the long run.
Craving more input? Start by adding Abaxis to your free and personalized watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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