Heska revenues drop in Q1

LOVELAND — Heska Corp. (Nasdaq: HSKA), a Loveland-based veterinary diagnostic product maker, saw lower revenue and earnings in the first quarter of fiscal year 2019 compared with the same period last year.

The company posted quarterly revenues of $29.5 million, down from $32.8 million in the first quarter of fiscal year 2018.

Net income dropped to $800,000, or 10 cents per diluted share, in the first quarter of 2019, compared with $2.2 million, or 28 cents per diluted share, in the same period last fiscal year.

The company is touting the fact that the quarter saw the highest number point of care lab diagnostics subscriptions in any quarter since 2016.

“I am proud of the strong work of our teams and their continuing success in this very competitive market,” Heska CEO Kevin Wilson said in a prepared statement. “We continue to work hard to earn customers and we are being rewarded with market share gains from retention of satisfied Heska customers and from long-time competitor customers switching to a better future with Heska.”

Midway through trading Tuesday, Heska’s stock price hovered around $80 per share, down about 1 percent for the day.

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