UPDATE: Idexx Laboratories Posts Upbeat Q1 Profit, Raises Forecast
Idexx Laboratories Inc (NASDAQ: IDXX) reported a better-than-expected first-quarter profit and lifted its target for the full year.
Idexx Laboratories' quarterly earnings surged to $40.7 million, or $0.72 per share, versus $36.6 million, or $0.62 per share, in the year-ago period. Its revenue climbed 10% to $322.7 million. Revenue at its companion animal group business surged 10%.
Analysts were expecting earnings of $0.71 per share on revenue of $314.2 million.
Idexx Laboratories expects 2012 earnings of $3.07 to $3.12 per share, on revenue of $1.31 billion to $1.32 billion. However, analysts were projecting earnings of $3.07 per share on revenue of $1.30 billion.
Idexx Laboratories shares closed at $88.18 yesterday.
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