Idexx Q3 earnings exceed expectations
Westbrook-based Idexx Laboratories Inc. (NASDAQ: IDXX) on Wednesday reported third-quarter profits of $44.2 million, exceeding Wall Street expectations.
The Associated Press reported that the animal diagnostic and health care company’s per-share earnings, adjusted for asset impairment costs, were 54 cents, 1 cent higher than the average estimate of seven analysts surveyed by Zacks Investment Research. Its net income, on a per-share basis, was 48 cents.
The company’s posted revenue of $406.4 million in the third quarter missed Wall Street forecasts. The AP reported that Idexx expects full-year earnings in the range of $2.04 to $2.07 per share, with revenue in the range of $1.6 billion to $1.61 billion.
Idexx shares have risen 3.5% since the beginning of the year, and the stock has risen 11% in the last 12 months, the AP reported.
From close Tuesday to late Wednesday morning, shares of Idexx had dropped by 13.48%, to $65.96. In late-morning trading Thursday, shares of Idexx were at $70.29.
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