IDEXX only Maine company to make the Fortune 1000 list
Photo / Peter Van Allen
Officials at IDEXX Laboratories Inc. break ground last week on a $62 million expansion at One IDEXX Drive in Westbrook. The company, which specializes in veterinary diagnostics, veterinary practice software and water microbiology testing, made it into the Fortune 1000 list for the first time, coming in at 961 in the annual ranking of companies by annual revenue.
IDEXX Laboratories Inc. of Westbrook made it into the Fortune 1000 list of the largest publicly traded companies for the first time, coming in at 961 in the annual ranking of companies by annual revenue. IDEXX’s 2017 revenue was $1.97 billion.
Fortune magazine announced its list on Monday. No other Maine company made this year’s list.
Other 2017 financials reported by Fortune for IDEXX: revenues up 10.9% over previous year; $63.1 million in profits, up 18.5% from previous year; assets $1.7 billion; $16.7 billion market value as of March 29.
IDEXX (NASDAQ: IDXX), a global leader in veterinary diagnostics, veterinary practice software and water microbiology testing, reported revenues for the first quarter of 2018 of $538 million, an increase of 16% compared to the prior year period on a reported basis and 12% on an organic basis. It reported a 2018 revenue outlook of $2.2 billion to 2.25 billion, with an expected revenue growth of 12% to 14% over 2017’s performance, according to its first quarter earnings report released on May 4.
The top 10 companies in Fortune magazine’s 500 list based on 2017 revenues are: 1) Walmart, $500.3 billion; 2) Exxon Mobil, $244.4 billion; 3) Berkshire Hathaway, $242.1 billion; 4) Apple, $229.2 billion; 5) UnitedHealth Group, $201.2 billion; 6) McKesson, $198.5 billion; 7) CVS Health, $184.8 billion; 8) Amazon.com, $177.9 billion; 9) AT&T, $160.5 billion; 10) General Motors, $157.3 billion.
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