Idexx Laboratories Raises FY18 Outlook - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, Idexx Laboratories, Inc. (IDXX) raised its financial outlook for fiscal 2018, citing a revenue benefit from the implementation of a new reveneue standard, the ASU 2014-09 or Revenue from Contracts with Customers, among other things.

Accordingly, for fiscal 2018, Idexx Laboratories now forecasts earnings per share of $4.04 to $4.18 per share, an increase of $0.55 from the midpoint of prior guidance to $4.04 - $4.18.

The revised outlook represents targeted growth of 37 percent to 42 percent on a reported basis, and 29 percent to 33 percent on a comparable constant currency basis.

The company raised its 2018 revenue outlook by $65 million to a range of $2.205 billion to $2.245 billion, or reported growth of 12 percent to 14 percent.

The revenue outlook reflects the company's strong 2017 performance, an estimated $10 million benefit from the New Revenue Standard, and an estimated $35 million benefit related to updated assumptions for foreign exchange rates.

On average, analysts polled by Thomson Reuters expect the company to earn $3.76 per share for the year on revenues of $2.16 billion. Analysts' estimates typically exclude special items.