One month ago Abaxis, Inc. (ABAX) reported their quarter three fiscals and confirmed earnings per share of 31 cents. This was a surprise for many, including one Wall Street analyst that saw its estimate beaten by a cool 6.9%. ABAX also saw an increase of its adjusted earnings increased 3.3% from the 30% recorded a year earlier, something many analysts in setting their consensus estimates failed to predict.
Much of the strong performance came from a quarter three which saw ABAX deliver total revenues of $59.7M. This figure was an increase over the figure recorded a year prior by around 13%. More to the point though is the fact that the performance of $59.7M was a stronger result than projected by analysts. The consensus estimate in terms of earnings was $58M.
The revenue breakdown showed in large measure where ABAX managed to generate its strongest revenue. North America was responsible for around 77% of total revenue. This segment of revenue grew 11.8% to $46.4. The international segment of revenues though not as big a contributor, still managed to see a 17.9% improvement to $13.2M. Cash also saw a boost as ABAX confirmed the ending of the third quarter with $161.6M in cash and cash equivalents. This was a jump over the $148.8M that was recorded in the corresponding quarter a year prior. ABAX is up 6.5% since announcing its third quarter results and was up 17.49% on Monday.
Storage Company Western Digital Corporation (WDC) has also seen an uptick in interest since announcing quarter two fiscals for 2018 around a month ago. WDC confirmed non-GAAP earnings of $3.95 a share. This was 14% above the consensus estimate set by one analysts; the figure also represents a 71.7% increase in non-GAAP earnings from the prior year period.
WDC saw its revenues increase 9.2%, a year over year increase which took actual figures to $5.34B. The strong performance was a solid improvement on the estimated $5.29B set by analysts. WDC is poised to continue on its current strong path thanks to a few key developments that are being deployed currently. The company has introduced its 64-layer 3D technology as well as brought to the fore its 64-layer technology which it confirms will be ready for active deployment later on in 2018. In the company’s Exabyte market it things have started to improve in terms of market presence. During the reporting quarter WDC started shipping its 14TB drives as well 95.3 Exabytes. WDC was up 0.09% in trading on Monday.