Reuters: Regulatory News: UPDATE 1-IDEXX Laboratories profit edges past estimates

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UPDATE 1-IDEXX Laboratories profit edges past estimates Apr 20th 2012, 10:39 Fri Apr 20, 2012 6:39am EDT * Q1 EPS $0.72 vs est $0.71 * Q1 rev $322.7 mln vs est $314.2 mln * FY12 EPS $3.07 to $3.12 vs est $3.07 April 20 (Reuters) - Idexx Laboratories Inc's profit beat market estimates for the seventh straight quarter, helped by higher revenue from its pets business, and the veterinary products maker raised its forecast for the full year. The company's first-quarter earnings rose to $40.7 million, or 72 cents per share, from $36.6 million, or 62 cents per share, a year ago. Revenue rose 10 percent to $322.7 million. Revenue at its companion animal group business rose 10 percent. Analysts on average had expected the company to earn 71 cents per share on revenue of $314.2 million, according to Thomson Reuters I/B/E/S. The pets business, which contributes more than 80 percent of IDEXX sales, provides diagnostic products and digital radiography systems to veterinarians. For 2012, the company expects to earn $3.07 to $3.12 per share, on revenue of $1.31 billion to $1.32 billion. Analysts on average were expecting earnings of $3.07 per share, on revenue of $1.30 billion. Shares of the company, valued at about $4.86 billion, closed at $88.18 on Thursday on the Nasdaq. Link this Share this Digg this Email Reprints

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