PR NEWSWIRE.....May 27th release Matthew
ABAXIS #22 on List of 100 Fastest Growing Public Companies
SUNNYVALE, Calif. -- ABAXIS, Inc. (Nasdaq: ABAX), a medical products company manufacturing point-of-care blood chemistry systems, announced that it moved up to position #22 on the list of the 100 fastest- growing public companies in Silicon Valley published by the San Jose and Silicon Valley Business journal in its May 1998 issue. Last year ABAXIS was listed as #27.
The list includes only firms based in Silicon Valley that were at least 3 years old at the end of the 1997 fiscal year. Companies are ranked by Los Angeles-based William O'Neil & Co., Inc., an investment brokerage firm that tracks U.S. publicly traded companies and publishes "Investor's Business Daily." William O'Neil ranked the companies using a method called "least squared." This process takes into account both growth spurts and revenue drops, transforming them into a smooth growth curve. Growth was calculated using revenues for the past three fiscal years.
President and CEO Clint Severson commented, "We are very proud to receive this recognition from the San Jose Business journal and I want to thank our customers and employees for helping ABAXIS achieve our growth goals."
Founded in 1989, ABAXIS develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 6.9 kilogram, portable analyzer and a series of 8 cm diameter single-use plastic disks, called reagent discs, that contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 15 minutes with the precision and accuracy equivalent to a clinical laboratory.
/CONTACT: Clint Severson, President and CEO of ABAXIS, Inc.,
408-734-0200; or Don Kundinger of Jackson Hole Advisors, 307-886-3881/
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