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FULL YEAR: HESKA REVENUES UP 7%, NET INCOME DOWN 178%
Source: Heska news release

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Heska Corporation (NASDAQ:HSKA - News; "Heska" or the "Company"), a provider of advanced veterinary diagnostic and other specialty veterinary products, today reported financial results for its fourth quarter and full year ended December 31, 2013.

The Company previously announced the acquisition of 54.6% of Cuattro Veterinary USA, LLC ("Cuattro Vet USA"), which was subsequently renamed Heska Imaging US, LLC; this acquisition is reflected in Heska's consolidated financial results for the fourth quarter of 2013 with no corresponding contribution in the fourth quarter of 2012 and in Heska's consolidated results for 2013 after February 24, 2013 with no corresponding contribution in 2012.

The Company also announced a management transition. Effective immediately upon filing the 10-K for 2013 Robert Grieve will transition to Executive Chair, and Kevin Wilson will become Chief Executive Officer and President.

"As we expected, the Cuattro Vet US transaction indeed served as a powerful catalyst to reshape Heska and put us on the pathway to profitable growth," concluded Dr. Grieve. "We now have differentiated and attractive products, a sales strategy which matches the needs of our customers, and a sales organization in place to expand our market share.

Accordingly, we believe it is the optimal time for me to transition to the role of Executive Chair. Kevin Wilson, currently our President and Chief Operating Officer, will take over as our CEO and I am excited to support him over the next few years."

Mr. Wilson added, "Heska has a remarkable business foundation, exceptional people, and a great reputation in the animal health industry. I couldn't be more honored than to lead Heska. As we add products, new features and compelling narratives of value, performance and savings, Heska is positioned to grow and thrive.

I look forward to leading the Company into an exciting future of customer satisfaction, market share gains, healthy profits, and shareholder value creation."


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