Medical market segment
In the medical market, Abaxis (ABAX) targets physicians’ offices across multiple specialties: urgent care, outpatient and inpatient clinics, health screening operations, home care providers, nursing homes, ambulance companies, oncology treatment clinics, dialysis centers, pharmacies, hospital laboratories, military installations, and cruise ship lines.
The company mainly sells piccolo chemistry analyzers and medical reagent discs under the medical segment.
Abaxis’s fiscal 3Q18 takes place in 4Q17. In the quarter, Abaxis’s medical market segment generated revenue of $10.1 million compared to $8.6 million in fiscal 3Q17. The gross profit generated by the company’s medical market segment was $4.7 million in fiscal 3Q18 compared to $4.1 million in 3Q17.
Veterinary market segment
In the veterinary market segment, Abaxis’s target customers include companion animal hospitals, animal clinics with mixed practices of bird, reptile, equine, and bovine practitioners, veterinary referral hospitals, universities, pharmaceutical companies, biotechnology companies, and private research laboratories.
In the animal market segment, Abaxis’s product portfolio includes VetScan chemistry analyzers, veterinary reagent discs, VetScan hematology instruments, and related reagent kits and rapid tests.
Abaxis’s veterinary market segment generated revenue of $48.4 million in fiscal 3Q18 compared to $43.1 million in fiscal 3Q17. The gross profit generated by the segment was $26.4 million in fiscal 3Q18 compared to $24.3 million in fiscal 3Q17.
Abaxis’s global sales are classified into three major regions: North America, Europe and Asia-Pacific, and the Rest of the World.
The company’s revenues from North America rose from $41.5 million in fiscal 3Q17 to $46.4 million in fiscal 3Q18. The company’s revenue from Europe was $9.5 million in fiscal 3Q18 compared to $7.9 million in fiscal 3Q17.
The revenue contributions from the Asia-Pacific and the Rest of the World were smaller than the contributions from the other two regions at a combined $3.6 million in fiscal 3Q18 compared to $3.2 million in fiscal 3Q17.
In the next part of the series, we’ll take a look at Abaxis’s product categories.