Heska closes 2020 with 60% increased year-over-year revenues

LOVELAND — Heska Corp. (Nasdaq: HSKA) ended a year filled with acquisitions with a small profit and an earnings beat.

The Loveland veterinary diagnostics producer posted revenues of $64.3 million in the quarter and an adjusted earnings-per-share figure of 25 cents, beating Wall Street consensus estimates by $11.2 million and 56 cents per share, respectively, according to data from finance site Seeking Alpha.

It had a net profit of $2.5 million for the period.

For 2020 as a whole, the company had revenues of $197.3 million, a 60.9% increase versus 2019. The majority of that increase is attributable to Heska’s entry into the international market after it acquired multiple diagnostics providers in Europe for about $110 million.

However, it ultimately had a net loss of $14.4 million for the year.

The company’s buying spree effectively doubled its customer base and geographic footprint, CEO Kevin Wilson said in a statement. He believes the company is now primed for organic growth after closing several acquisitions.

“We saw healthy growth driven by healthy end markets that continue to need more of what Heska has unique capability to offer, all of which forms a great foundation to continue to upscale revenue and profitability in this second half of our Act Two plan,” he said.

The company also raised its 2021 guidance and now estimates that it’ll generate between $225 million and $235 million, amounting to a 15% to 20% target for sales growth over 2020.

Heska shares were slightly higher in early trading Tuesday, rising 3.99% to $192.54 per share as of 10 a.m. Mountain Time.

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LOVELAND — Heska Corp. (Nasdaq: HSKA) ended a year filled with acquisitions with a small profit and an earnings beat.

The Loveland veterinary diagnostics producer posted revenues of $64.3 million in the quarter and an adjusted earnings-per-share figure of 25 cents, beating Wall Street consensus estimates by $11.2 million and 56 cents per share, respectively, according to data from finance site Seeking Alpha.

It had a net profit of $2.5 million for the period.

For 2020 as a whole, the company had revenues of $197.3 million, a 60.9% increase versus 2019. The majority of that increase is attributable to Heska’s entry into the international market after it acquired multiple diagnostics providers in Europe for about $110 million.

However, it ultimately had a net loss of $14.4 million for the year.

The company’s buying spree effectively doubled its customer base and geographic footprint, CEO Kevin Wilson said in a statement. He believes the company is now primed for organic growth after closing several acquisitions.

“We saw healthy growth driven by healthy end markets that continue to need more of what Heska has unique capability to offer, all of which forms a great foundation to continue to upscale revenue and profitability in this second half of our Act Two plan,” he said.

The company also raised its 2021 guidance and now estimates that it’ll generate between $225 million and $235 million, amounting to a 15% to 20% target for sales growth over 2020.

Heska shares were slightly higher in early trading Tuesday, rising 3.99% to $192.54 per share as…