ABATIX CORP. Reports Operating Results for 2009

MESQUITE, Texas, April 6 /PRNewswire-FirstCall/ -- ABATIX CORP. (Pink Sheets: ABIX) today announced net sales of $55,018,000 for 2009 decreased 30% from net sales of $78,642,000 in 2008 and net earnings of $697,000 or $.38 per share in 2009 decreased from net earnings of $1,519,000 or $.88 per share in 2008.  The 2009 decrease in sales and profitability is attributable to the recession in the overall economy and no significant weather related events.

More information about the Company, including financial information, can be found on the Abatix web site at www.abatix.com.  Information about our wholly-owned subsidiary, IESI, can be found on their web site at www.int-enviroguard.com.

ABATIX CORP. is a full line distributor of construction supplies, fire and water restoration equipment, safety equipment for the industrial manufacturing industry and environmental equipment and supplies for the remediation industry.  The Company currently has nine distribution centers in Dallas and Houston, Texas, in San Diego, San Francisco and Los Angeles, California, in Phoenix, Arizona, in Seattle, Washington, in Las Vegas, Nevada and in Jacksonville, Florida. These distribution centers serve customers throughout the Southeast, Southwest, Midwest, Pacific Coast, Alaska and Hawaii.

    
    
                                 ABATIX CORP.
                       SELECTED FINANCIAL INFORMATION
                                             
                            Three Months Ended       Twelve Months Ended  
                                December 31,             December 31,  
                                ------------             ------------       
                                (Unaudited)          
                             2009          2008        2009         2008 
                             ----          ----        ----         ----    
                                             
    Net sales            $12,786,498  $16,406,337  $55,018,031  $78,641,845 
    Cost of sales         (8,864,018) (11,588,124) (38,296,153) (56,172,780)
                          ----------  -----------  -----------  ----------- 
        Gross profit       3,922,480    4,818,213   16,721,878   22,469,065 
    Selling, general and 
     administrative     
     expenses             (3,613,826)  (4,713,879) (15,587,140) (19,672,837)
                          ----------   ----------  -----------  ----------- 
        Operating profit     308,654      104,334    1,134,738    2,796,228 
    Other expense, net         6,646      (55,797)     (21,305)    (282,318)
                               -----      -------      -------     -------- 
        Earnings before 
         income taxes        315,300       48,537    1,113,433    2,513,910 
    Income tax expense      (120,090)     (27,539)    (416,683)    (994,498)
                            --------      -------     --------     -------- 
           Net earnings     $195,210      $20,998     $696,750   $1,519,412 
                            ========      =======     ========   ==========
    Basic and diluted 
     earnings per share         $.11         $.01         $.38         $.88 
                                ====         ====         ====         ==== 
    Basic and diluted 
     weighted average      
     shares outstanding    1,811,148    1,744,481    1,811,148    1,719,481 
                           =========    =========    =========    =========
                      
                                                            As of:          
                                                  --------------------------
                                                  December 31,  December 31,
                                                       2009         2008    
                                                       ----         ----    
              Current assets                       $17,982,209  $22,436,120 
              Total assets                         $19,088,929  $23,693,441 
              Current liabilities                   $3,341,335   $8,942,597 
              Total liabilities                     $3,341,335   $8,942,597
              Total stockholders' equity           $15,747,594  $14,750,844 
    
    

SOURCE ABATIX CORP.