27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Abaxis, Inc
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Sales
Total revenues in the third quarter increased 15% year over year to $31.0 million, fueled by higher instrument unit sales. Revenues from instrument sales and consumables increased 6% and 20% year over year, respectively, in the third quarter. Total medical and veterinary instrument sales increased 37% year over year to 1,212 units.
In terms of customer group: Veterinary market sales increased 33% year over year to $23.9 million due to higher veterinary reagent disc sales. Medical market sales declined 28% year over year to $5.2 million primarily due to a decline in instrument sales to the U.S. government and distributors in North America.
On a geographic basis, North America contributed 80% to total revenues and increased 9% year over year. Abaxis’ international operations increased 48% year over year.
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Gross margin increased 300 basis points (bps) year over year to 59.0%. Research and development expenses as a percentage of sales increased 150 bps year over year to 9.1%. Sales and marketing expenses as a percentage of sales increased 160 bps year over year to 24.1%. General and administrative expenses as a percentage of sales declined 10 bps year over year to 8.2%.
Despite a higher gross margin, Abaxis reported higher operating expenses that were primarily responsible for lower operating and net margins. Both operating and net margins declined 20 bps and 130 bps year over year to 17.5% and 11.1%, respectively.
Balance Sheet
Abaxis ended the third quarter with cash, cash equivalents and investments of $93.2 million, compared to $74.6 million at the end of the year-ago quarter. Abaxis had no outstanding debt at the end of the third quarter.
Abaxis is a manufacturer of portable medical (human) and veterinary (animal) blood analysis systems. For medical use, the systems are marketed under the name “Piccolo" and measure metabolic, hepatic (liver), kidney, and renal (blood) function. Other uses include measuring electrolytes and cholesterol. The systems used for veterinary (animal) use are marketed under the name “VetScan" and used under the following animal profiles: avian/reptilian, large animal, mammalian (liver) and equine (horse). Other uses include a comprehensive diagnostic profile, as well as a thyroxine/cholesterol test.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.