02.02.2017 13:34:28

IDEXX Lab Raises 2017 EPS Guidance Range By $0.08 - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) announced the company is increasing its 2017 EPS outlook to $2.85 - $3.01 per share, reflecting targeted growth of 17% - 23% on a reported basis and 19% - 26% EPS constant currency growth. The company is projecting free cash flow at approximately 95% of net income in 2017, reflecting continued discipline in inventory management and capital spending. The company said it is maintaining 2017 revenue outlook of $1.91 billion to $1.94 billion, a growth of 7.5% - 9%. Organic revenue growth is targeted to be in the range of 9% - 10.5%.

IDEXX reported revenues for the fourth quarter of 2016 of $443 million, an increase of 11% compared to the prior year period on a reported basis and 12% on an organic basis. Fourth quarter results were supported by accelerated gains in Companion Animal Group Diagnostics recurring revenue and continued high growth in premium instrument placements. Earnings per share was $0.58 for the fourth quarter, representing 21% growth year-over-year on a reported basis, and 33% on a constant currency basis.

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