Heska Corporation, the US-originated supplier of veterinary and animal health products, published its latest quarterly results during November. Its Group consolidated financial statements indicate that sales revenue returned to growth during the third quarter, although revenues remain lower for the year. On a calendar year basis, cumulative sales revenue reached $88.9 million, compared with $93.4 million in 2018, a decrease of approximately -5% year-on-year.
The company reports on two reportable segments; Core Companion Animal (CCA) and Other Vaccines and Pharmaceuticals (OVP). The recent contraction in sales revenue was driven by lower revenues from the CCA business segment, specifically from lower sales of single-use pharmaceuticals, vaccines and diagnostic tests.
POC Imaging Segment
The CCA segment includes the companies portfolio of point-of-care (POC) imaging products which includes its imaging solutions, measurement instruments, software and services related to diagnostic imaging. For the first nine months of 2019, cumulative sales revenue from the POC imaging segment were approximately +1.5% higher relative to 2018 and accounted for 18% of total company revenues. The increase in sales revenue was from higher equipment sales which accounted for approximately 85% of sales revenue from the POC imaging segment.