LOVELAND, Colo., Aug. 18, 2011 /PRNewswire/ -- Heska Corporation
(NASDAQ: HSKA, "Heska" or the "Company"), a provider of advanced
veterinary diagnostic and other specialty veterinary products,
today announced that it has retained Hayden IR, a national,
New York-based investor relations
consulting firm, to develop an investor relations program to raise
its visibility and strengthen its relationships with the investment
community.
(Logo: http://photos.prnewswire.com/prnh/20000622/HESKALOGO)
"Over the last year, Heska has solidified its financial
position, improving its balance sheet and setting the stage for
improved operating performance," commented Robert Grieve, Heska's Chairman and CEO.
"We are now focused on further enhancing our product
offering, with one new product launched in 2011, plans for one more
this year and up to four in 2012. Accordingly, we believed it
was an appropriate time to retain a national investor relations
firm to help us target an expanding investor audience and ensure we
are communicating effectively with Wall Street. We look
forward to working with the team of professionals at Hayden IR to
execute this important goal."
With offices in New York,
Phoenix, Minneapolis and San
Diego, Hayden IR provides a comprehensive range of investor
relations services to a growing list of clients. For more
than a decade, Hayden IR has been a recognized leader in driving
market recognition and creating sustainable competitive advantages
for more than 100 micro- and small-cap companies. Hayden
delivers expertise and professionalism in such areas as investor
management, relationship building, awareness campaigns, online
presence and corporate identity.
Brett Maas, Hayden IR's Managing
Partner, added, "Heska represents an intriguing opportunity, with a
strong base of recurring revenue, more than $1 per share in cash and no debt. The
Company has an outstanding reputation and an expanding commercial
network, targeting a large market opportunity with favorable
demographics. During the last 12 months, Heska has been
improving its financial performance, growing revenue and delivering
improved gross margins, resulting in a swing from operating losses
to profitability. This performance is even more compelling
when investors understand the value of the approximately
$160.7 million Net Operating Loss
position and focus on the company's underlying earnings. The
team at Hayden IR looks forward to articulating this opportunity to
the professional investment community."
About Heska
Heska Corporation (NASDAQ: HSKA) sells advanced veterinary
diagnostic and other specialty veterinary products. Heska's
state-of-the-art offerings to its customers include diagnostic
instruments and supplies as well as single use, point-of-care
tests, pharmaceuticals and vaccines. The Company's core focus
is on the canine and feline markets where it strives to provide
high value products and unparalleled customer support to
veterinarians. For further information on Heska and its
products, visit the company's website at www.heska.com.
Forward-Looking Statements
This announcement contains forward-looking statements
regarding Heska's future financial and operating results. For
example, Dr. Grieve's stated expectations for new product launches
are forward-looking. These statements are based on current
expectations and are subject to a number of risks and
uncertainties. Investors should note that there is an inherent risk
in using past results, including trends, to predict future
outcomes. In addition, factors that could affect the business
and financial results of Heska generally include the following:
risks related to Heska's reliance on third parties to develop
certain of Heska's future products; risks related to Heska's
ability to increase the productivity of its sales force; risks
related to the implementation of current product development plans,
including anticipated launch dates; risks regarding Heska's
reliance on third-party suppliers such as minimum purchase
requirements, which could have a significant adverse impact on
Heska's financial position; uncertainties related to Heska's
ability to hire and retain effective individuals to fill currently
vacant positions; uncertainties related to Heska's ability to
successfully commercialize new products; uncertainties regarding
Heska's reliance on third parties to whom Heska has granted
substantial marketing rights to certain of Heska's existing
products and who may be large Heska customers, including
Schering-Plough Animal Health Corporation which has exclusive
rights to Heska's heartworm preventive in the United States; uncertainties regarding
Heska's ability to successfully market and sell its products in an
economically sustainable manner; competition; risks related to
Heska's ability to generate levels of profitability to utilize
significantly its deferred tax assets; and the risks set forth in
Heska's filings and future filings with the Securities and Exchange
Commission, including those set forth in Heska's Quarterly Report
on Form 10-Q for the quarter ended June 30, 2011.
SOURCE Heska Corporation