SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 29, 2004
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ABAXIS, INC.
(Exact name of registrant as specified in its charter)
California 77-0213001
(State or other jurisdiction of 000-19720 (I.R.S. Employer)
incorporation or organization) (Commission File Number) Identification No.)
3240 Whipple Road, Union City, CA 94587
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (510) 675-6500
____________________________________________________
(Former name or address, if changes since last report)
Item 12.
On April 29, 2004, the Company released its quarterly and fiscal year 2004
earnings year end announcement (the "Earning Release") which is attached hereto
as Exhibit 99.1 and is incorporated herein by reference in its entirety.
The Earnings Release presents the Company's income from operations, net
income, and net income per share on a pro forma basis excluding a one-time
income tax benefit which is not a measurement of performance under accounting
principles generally accepted in the United States of America. Management uses
these measures in comparing the Company's historical performance and believes
that these measures provide meaningful and comparable information to management
and investors to assist in their review of the Company's performance relative to
prior periods and its competitors. In the Earnings Release, the Company elected
to present certain information on a pro forma basis to exclude the one-time tax
benefit so as to provide investors with a more meaningful comparison with its
historical results.
The Earnings Release includes a schedule that reconciles the Company's
statement of operations prepared in accordance with generally accepted
accounting principles to its results on a pro forma basis for the three- and
twelve-month periods ended March 31, 2004 and 2003. For the fourth quarter ended
March 31, 2004, the pro forma adjustment related to a one-time income tax
benefit of $19,450,000. For fiscal 2004, the pro forma adjustment related a
one-time income tax benefit of $19,450,000.
Exhibit No. Description
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99.1 Press release dated April 29, 2004.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated this 29th day of April 2004.
Abaxis, Inc.
By: /s/ Alberto Santa Ines
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Alberto Santa Ines
Chief Financial Officer
INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Press release dated April 29, 2004.