Heska revenues soar 97% in first quarter

LOVELAND — Heska Corp. (Nasdaq: HSKA) reported record quarterly revenue growth during the first quarter.

The Loveland-based provider of veterinary diagnostic and specialty products recorded revenue of $60.5 million, up 97.4% from $30.65 million in the first quarter of 2020.

Net income totaled $1.87 million, compared with a loss of $5.29 million a year ago.

“I’m pleased to report a great start to the year,” Kevin Wilson, Heska’s president and CEO, said in a prepared statement. “Heska teams again outpaced goals across nearly all key metrics and demonstrated strong operational efficiency.”

Wilson attributed the results in part to an increase in point-of-care lab consumables sales, which grew 23.9%. He noted that the company completed a substantial capital raise — $165 million in common-stock proceeds — in the first quarter, enabling it to proceed faster in launching new analyzer platforms, test menus, diagnostic services and international initiatives.

© 2021 BizWest Media LLC

LOVELAND — Heska Corp. (Nasdaq: HSKA) reported record quarterly revenue growth during the first quarter.

The Loveland-based provider of veterinary diagnostic and specialty products recorded revenue of $60.5 million, up 97.4% from $30.65 million in the first quarter of 2020.

Net income totaled $1.87 million, compared with a loss of $5.29 million a year ago.

“I’m pleased to report a great start to the year,” Kevin Wilson, Heska’s president and CEO, said in a prepared statement. “Heska teams again outpaced goals across nearly all key metrics and demonstrated strong operational efficiency.”

Wilson attributed the results in part to an increase in point-of-care lab consumables sales, which grew 23.9%. He noted that the company completed a substantial capital raise — $165 million in common-stock proceeds — in the first quarter, enabling it to proceed faster in launching new analyzer platforms, test menus, diagnostic services and international initiatives.

© 2021 BizWest Media LLC