IDEXX Updates Guidance For Organic Revenue Growth - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) Wednesday said it achieved record total placements of over 2,000 premium chemistry and hematology analyzers globally in the fourth quarter.

This reflects placement of 460 catalysts and 488 premium hematology analyzers in the U.S., up 9 and 18 percent, respectively. Total international placements of premium analyzers grew 27 percent in the fourth quarter. Reflecting continued strong momentum in the business, the company updated its guidance for organic revenue growth of 9.5 to 10 percent in 2014, excluding one-time impacts from US channel inventory reductions related to the transition to the all-direct CAG diagnostics sales strategy in the US. In October 2014, the company expected organic revenue growth of 9.5 percent.

The company also reinforced its guidance for 13 to 14 percent normalized organic revenue growth in 2015. This outlook reflects expectations for normalized organic revenue growth of 9.5 to 10.5 percent, excluding the benefit of margin capture associated with the US all-direct sales and product distribution strategy.

The company also expects no negative impacts in 2015 related to US channel inventory drawdown, reflecting the proactive and effective management of channel inventories to immaterial levels at the end of 2014. IDEXX' previous preliminary outlook was for 13 to 14 percent normalized organic revenue growth.