IDEXX Raises 2016 EPS Guidance Range - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) announced, for 2016, the company now expects EPS in the range of $2.10 - $2.17; and revenue in a range of $1.69-$1.71 billion. The company increased its EPS guidance to reflect the permanent extension of the Federal R&D tax credit and solid operating trends. The company said, excluding foreign currency change impacts, its guidance aligns with constant currency adjusted EPS growth of 12% to 15%.

IDEXX said it is maintaining organic revenue growth outlook while updating reported revenue guidance for the strengthening of the US dollar relative to foreign currencies. Reported revenue is expected to grow 6-7%.

The company reported revenues for the fourth quarter of 2015 of $400 million, an increase of 14% compared to the prior year period. Normalized organic revenue growth for the quarter was over 11%.

Earnings per share for the quarter was $0.48. Adjusted EPS growth was 2% compared to the prior year period, while absorbing a negative $0.03 per share impact related to net changes in foreign exchange, resulting in constant currency adjusted EPS growth of 9%.