Abaxis Inc. Q1 Income Falls 2%

(RTTNews) - Abaxis Inc. (ABAX) announced earnings for first quarter that lost ground from last year.

The company said its profit declined to $6.89 million, or $0.30 per share. This was down from $7.00 million, or $0.31 per share, in last year's first quarter.

Analysts had expected the company to earn $0.32 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 8.7% to $57.70 million. This was up from $53.09 million last year.

Abaxis Inc. earnings at a glance:

-Earnings (Q1): $6.89 Mln. vs. $7.00 Mln. last year. -Earnings Decline (Y-o-Y): -1.6% -EPS (Q1): $0.30 vs. $0.31 last year. -EPS Decline (Y-o-Y): -3.2% -Analysts Estimate: $0.32 -Revenue (Q1): $57.70 Mln vs. $53.09 Mln last year. -Revenue Change (Y-o-Y): 8.7%