IDEXX Laboratories Q3 Profit Up, Updates FY13 View - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc.(IDXX), Tuesday reported a higher third-quarter net income on higher revenues, that also exceeded the consensus estimates. The results reflected the Companion Animal Group's 8.7 percent organic growth. The company also updated its full-year guidance.

Net income attributable to stockholders was $45.6 million or $0.86 per share, compared with $42.8 million or $0.76 per share during the same quarter last year.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $0.83 for the quarter. Analysts' estimates typically exclude one-time items.

For the three-month period, the company reported revenues of $338.2 million, compared with $315.4 million last year. The Street expected the company to generate revenues of $339.91 million for the quarter. Companion Animal Group's revenues increased to $283.8 million, from prior year's $262.3 million.

For the fourth quarter, organic revenue growth is expected to be 8 percent to 8.4 percent, resulting in full-year revenues of about $1.370 billion - $1.372 billion. Earnings per share are expected to be in the range of $3.44 - $3.48 per share, compared to its previous guidance of $3.42 - $3.48 per share. Analysts expect the company to report earnings of $3.46 per share on revenues of $1.38 billion.

For 2014, revenues for the full year are expected to be in the range of $1.48 billion to $1.50 billion, and earnings per share are expected to be in the range of $3.76 - $3.86 per share. Analysts expect the company to report revenues of $1.47 billion and earnings of $3.86 per share.