Veterinary products maker Heska Corp.(HSKA: Quote) Friday reported a decline in profit from its second quarter, as higher operating expenses more than offset a 5% increase in revenue.
The company's quarterly earnings per share came in below analysts' expectations as did its quarterly revenues.
The company reported net income for the second quarter of $262 thousand or $0.05 per share, compared to $457 thousand or $0.09 per share for the year-ago quarter.
On average, 2 analysts polled by Thomson Reuters expected the company to earn $0.12 per share for the second quarter. Analysts' estimates typically exclude special items.
In the second quarter of 2012, the company recorded a $144 thousand deferred tax expense, compared to a $235 thousand deferred tax expense in the prior year period.
Net revenue for the quarter rose 5% to $18.27 million from $17.45 million last year. Two analysts had a consensus revenue estimate of $19.82 million for the second quarter.
Total operating expenses for the quarter jumped to $7.7 million from $6.6 million a year earlier.
Heska shares are currently trading at $8.75, down $1.34 or 13.28%, on the Nasdaq.
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by RTT Staff Writer
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