Heska reports income drop in Q1

LOVELAND – Veterinary products manufacturer Heska reported a decline in net income from $916,000 in the first quarter of 2011 to $584,000.

The Loveland-based company brought in $19.2 million in revenue in the first quarter, down from $19.5 million in the same period of 2011. The majority of Heska’s revenue came from its core companion animal health division, which brought in $16.6 million, up from $16.4 million in the first quarter of 2011.

“We grew our core companion animal health revenue despite an anticipated $2.1 million decline in revenue from our heatworm preventive, (which was) sold to a unit of Merck,´ said Robert Grieve, chairman and CEO.

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The company saw an increase in operating expenses, from $3.9 million in the first quarter of 2011 to $4.8 million in the same period of 2012.