IDEXX Labs. Q2 Profit Up - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) reported higher second-quarter 2014 net income attributable to stockholders of $57.22 million, or $1.10 a share, versus last year's $53.99 million, or $0.99 a share. On average, 9 analysts polled by Thomson Reuters expected earnings of $1.06 a share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues grew 11% year-over-year to $390.12 million, from $352.58 million, reflecting strong performance across regions and business segments. Eight analysts estimated revenues of $385.38 million for the quarter. Organic revenue growth for the quarter was 9% year-on-year, or 10% normalized for changes in distributor inventory.

For 2014, the firm expects adjusted earnings per share of $3.79 - $3.86, on revenues in the $1.51 billion - $1.52 billion range. Ten analysts project earnings of $3.84 a share on revenues of $1.50 billion for 2014. The company said it has raised the top end of its organic revenue growth guidance by 50 basis points, reflecting the strong momentum in its CAG Diagnostics recurring revenues and better than expected year-to-date performance in LPD.

Looking ahead to 2015, the baseline preliminary outlook, excluding the impact of the transition to an all-direct product distribution model, is for 9% to 10% organic revenue growth. Operating margins, excluding transitional impacts in both 2014 and 2015, are likely to be relatively flat next year.