UNION CITY, Calif., Aug. 8, 2011 /PRNewswire/ — ABAXIS, Inc.
(Nasdaq:
ABAX) today announced that its Board of Directors has approved
the repurchase of up to an aggregate of $40,000,000 of its Common
Stock. The repurchases will be made from time to time on the
open market at prevailing market prices or in negotiated
transactions off the market.
Clint Severson, chairman and chief executive officer of Abaxis,
commented “We believe that the repurchase program is a good
investment of available funds and underscores our commitment to
enhancing shareholder value.”
About AbaxisAbaxis develops, manufactures, markets and sells
portable blood analysis systems for use in any veterinary or human
patient-care setting to provide clinicians with rapid blood
constituent measurements. The system consists of a compact,
5.1 kilogram (11.2 pounds), portable analyzer and a series of
single-use plastic discs, called reagent discs that contain all the
chemicals required to perform a panel of up to 13 tests on
veterinary patients and 14 tests on human patients. The
system can be operated with minimal training and performs multiple
routine tests on whole blood, serum or plasma samples. The
system provides test results in less than 12 minutes with the
precision and accuracy equivalent to a clinical laboratory
analyzer. The veterinary business also provides to the animal
health and research market a line of hematology instruments for
point-of-care complete blood counts (CBC), a specialty instrument
to screen for and detect clotting disorders and to measure equine
fibrinogen levels, a handheld instrument for the rapid assessment
of certain critical care tests and rapid point-of-care tests for
Heartworm infections in dogs, Parvovirus and Giardia. Abaxis
is in the final stages of building a full-service laboratory
testing facility for veterinaria
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