8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 3, 2002

ABAXIS, INC.

(Exact name of registrant as specified in its charter)

California
(State or other jurisdiction of
incorporation or organization) 000-19720
(Commission File Number) 77-0213001
(I.R.S. Employer)
Identification No.)

3240 Whipple Road, Union City, CA
(Address of principal executive offices) 94587
(Zip Code)

Registrant’s telephone number, including area code: (510) 675-6500

______________________________________________

(Former name or address, if changes since last report)

TABLE OF CONTENTS

	Item 5. Other Events.
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 99.1

Item 5. Other Events.

         On September 4, 2002, Abaxis, Inc. issued a press release that is attached as Exhibit 99.1 hereto and is incorporated herein by reference in its entirety.

SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated this 4th day of September, 2002.
	Abaxis, Inc.
	By:	/s/ Alberto Santa Ines
		Alberto Santa Ines Chief Financial Officer

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press Release Dated as of September 4, 2002.

EX-99.1 3 f84259exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 [ABAXIS LOGO] Contact: Clint Severson RCG Capital Markets Group Chief Executive Officer Retail: Joe Dorame ABAXIS, Inc. Institutional/Analysts: Joe Diaz 510-675-6501 Media: Jeff Stanlis 480-675-0400 FOR IMMEDIATE RELEASE ABAXIS TO COMPLY WITH PRELIMINARY INJUNCTION WHILE EVALUATING ITS LEGAL OPTIONS Union City, California - September 4, 2002 -- ABAXIS, Inc. (NASDAQ: ABAX) announced that on September 3, 2002, the United States District Court of Maine issued a preliminary injunction in favor of IDEXX Laboratories, Inc. under which Abaxis cannot, pending the resolution of patent litigation by IDEXX against Abaxis, make, use, sell, offer to sell or import the VetScan Canine Heartworm Antigen Test manufactured by S.A. Scientific, Inc. of San Antonio, Texas and sold by Abaxis. Abaxis disagrees with the Court's opinion and is evaluating its legal options, including an appeal of the order to the Federal Circuit Court of Appeals. The VetScan canine heartworm test was introduced in December 2001 and constitutes approximately 3% of total Abaxis sales since that date. The granting of the preliminary injunction does not affect the sale and support of Abaxis' in-clinic veterinary chemistry and hematology analysis products, which form the core of Abaxis' VetScan line. "Although we disagree with the decision regarding the canine heartworm test, we of course plan to comply fully with the order," stated Clint Severson, CEO and Chairman of the Board. ABAXIS develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 6.9 kilogram, portable analyzer and a series of 8-cm diameter single-use plastic disks, called reagent discs, which contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple tests on whole blood, serum, or plasma. The system provides test results in less than 14 minutes with the precision and accuracy equivalent to a clinical laboratory. This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. ABAXIS claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties that: - - Abaxis may be forced to pay Idexx monetary damages, be permanently enjoined from selling the canine heartworm product manufactured by S.A. Scientific, need to enter into a license agreement with Idexx pertaining to the patents, or a combination thereof; - - In the event that Abaxis is enjoined from selling the canine heartworm antigen test manufactured by S.A. Scientific, Abaxis may be unable to either develop an alternate canine heartworm product that does not infringe upon the Idexx patents or Idexx may offer Abaxis commercially unfeasible terms for licensing their patents; and - - Even if Abaxis is successful in defending against the Idexx action, the defense of such claims may be exorbitant and may divert Abaxis management's focus away from running Abaxis' business Other risks and uncertainties related to Abaxis' business are detailed from time to time in Abaxis' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made. Abaxis does not undertake and specifically disclaims any obligation to update any forward-looking statements. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                    Exhibit 99.1


[ABAXIS LOGO]

Contact:     Clint Severson                     RCG Capital Markets Group
             Chief Executive Officer            Retail: Joe Dorame
             ABAXIS, Inc.                       Institutional/Analysts: Joe Diaz
             510-675-6501                       Media: Jeff Stanlis
                                                480-675-0400

                                                           FOR IMMEDIATE RELEASE


                  ABAXIS TO COMPLY WITH PRELIMINARY INJUNCTION
                       WHILE EVALUATING ITS LEGAL OPTIONS




Union City, California - September 4, 2002 -- ABAXIS, Inc. (NASDAQ: ABAX)
announced that on September 3, 2002, the United States District Court of Maine
issued a preliminary injunction in favor of IDEXX Laboratories, Inc. under which
Abaxis cannot, pending the resolution of patent litigation by IDEXX against
Abaxis, make, use, sell, offer to sell or import the VetScan Canine Heartworm
Antigen Test manufactured by S.A. Scientific, Inc. of San Antonio, Texas and
sold by Abaxis. Abaxis disagrees with the Court's opinion and is evaluating its
legal options, including an appeal of the order to the Federal Circuit Court of
Appeals.

The VetScan canine heartworm test was introduced in December 2001 and
constitutes approximately 3% of total Abaxis sales since that date. The granting
of the preliminary injunction does not affect the sale and support of Abaxis'
in-clinic veterinary chemistry and hematology analysis products, which form the
core of Abaxis' VetScan line.

"Although we disagree with the decision regarding the canine heartworm test, we
of course plan to comply fully with the order," stated Clint Severson, CEO and
Chairman of the Board.

ABAXIS develops, manufactures and markets portable blood analysis systems for
use in any patient-care setting to provide clinicians with rapid blood
constituent measurements. The system consists of a compact, 6.9 kilogram,
portable analyzer and a series of 8-cm diameter single-use plastic disks, called
reagent discs, which contain all the reagents necessary to perform a fixed menu
of tests. The system can be operated with minimal training and perform multiple
tests on whole blood, serum, or plasma. The system provides test results in less
than 14 minutes with the precision and accuracy equivalent to a clinical
laboratory.

This press release includes statements that constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. ABAXIS claims the protection of the safe-harbor for forward-looking
statements contained in the Reform Act. Specific forward-looking statements
contained in this press release include, but are not limited to, risks and
uncertainties that:

- -    Abaxis may be forced to pay Idexx monetary damages, be permanently enjoined
     from selling the canine heartworm product manufactured by S.A. Scientific,
     need to enter into a license agreement with Idexx pertaining to the
     patents, or a combination thereof;

- -    In the event that Abaxis is enjoined from selling the canine heartworm
     antigen test manufactured by S.A. Scientific, Abaxis may be unable to
     either develop an alternate canine heartworm product that does not infringe
     upon the Idexx patents or Idexx may offer Abaxis commercially unfeasible
     terms for licensing their patents; and

- -    Even if Abaxis is successful in defending against the Idexx action, the
     defense of such claims may be exorbitant and may divert Abaxis management's
     focus away from running Abaxis' business


Other risks and uncertainties related to Abaxis' business are detailed from time
to time in Abaxis' periodic reports filed with the United States Securities and
Exchange Commission. Forward-looking statements speak only as of the date the
statement was made. Abaxis does not undertake and specifically disclaims any
obligation to update any forward-looking statements.