Consolidated revenue increased 27.4% year over year to a record $23.5 million from $18.5 million. Net income rose to $1.2 million, or 20 cents a share, from $389,000, or 7 cents a share, in the same period one year earlier.
Gross profit increased year over year to $10.4 million from $7.4 million, while gross margin widened to 44.3% from 40.1% in the fourth quarter of 2012. Heska posted a record operating income of $2.8 million, up from $720,000 in the same period one year ago.
"This was a tremendous conclusion to a solid year of transformation, providing momentum as we enter 2014 and demonstrating the progress we have made in the last year to strategically reposition Heska," said Dr. Robert, Heska's Chairman and CEO.
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TheStreet Ratings team rates HESKA CORP as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HESKA CORP (HSKA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and feeble growth in its earnings per share."