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Heska Corporation (HSKA) Discusses Second Quarter Financial Results; Shares Fall to 52-Week Low

Heska Corporation (NASDAQ: HSKA), a veterinary diagnostic company that focuses on the canine and feline markets to provide high-value products and unparalleled customer support to veterinarians, recently announced its financial results for the second quarter ending June 30, 2008. Shares of Heska Corporation fell to another 52-week low earlier this week after the company reported net income was $0.01 per diluted share versus $0.02 per diluted share in the second quarter of 2007.

Total revenue for the second quarter reached $22.6 million, a year-over-year increase of 13 percent compared to the second quarter of 2007. Heska Corporation’s chief financial officer, Jason A. Napolitano, stated that the company produced record second quarter operating income of $1.4 million but will continue to monitor the current economic climate and be conservative as to what the company considers regarding discretionary, operating and capital expenditures.

Senior management remains enthusiastic regarding potential business opportunities for the remainder of 2008 and expects to deliver the highest annual revenue results in the history of the company this year. The company’s year-end estimate for net income is currently $1.5 million, or $0.03 per share, with gross margins in the 36 percent to 37 percent range.

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