IDEXX Labs Raises 2016 Outlook

(RTTNews) - IDEXX Laboratories Inc. (IDXX) said that it raised its 2016 revenue guidance range by $40 million and its 2016 earnings per share guidance range by $0.08 per share to reflect its strong first quarter operating results, positive revenue growth trends, and projected benefits from a moderated strengthening of the US dollar relative to foreign currencies, partially offset by an anticipated increase in the effective tax rate.

The company raised its 2016 guidance range for organic revenue growth to 9% - 10%.

For 2016, the company now expects earnings per share to be in the range of $2.18 - $2.25, revenue of $1.730 billion - $1.750 billion. Analysts polled by Thomson Reuters expect the company to report earnings of $2.15 per share and revenues of $1.71 billion for fiscal year 2016. Analysts' estimates typically exclude special items.