IDEXX Laboratories Q2 Profit Increases, Lifts FY17 Outlook

(RTTNews) - IDEXX Laboratories Inc. (IDXX) Tuesday reported second quarter net income attributable to the company of $85.36 million, up from $67.20 million in the prior year. On a per share basis, earnings increased to $0.97 from $0.75 a year ago.

On average, 9 analysts polled by Thomson Reuters expected the company to earn $0.85 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to $508.95 million from $466.57 million in the previous year. Wall Street expected $502.27 million.

Looking ahead to the full year 2017, the company expects earnings per share in a range of $3.12 to $3.22, with a projected year over year growthof 28 to 32 percent. On a constant currency earnings is expected to climb 29 to 33 percent. Previous outlook was in a range of $$2.95 - $3.11 per share.

Revenue for the full year is expected to grow 10 to 11 percent to a range of $1.954 to $1.965 billion, while its earlier outlook was $1.925 billion - $1.950 billion. Analysts expect earnings of 3.07 per share on revenue of 1.94 billion.