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January 29, 2013

Idexx sees Q4 growth

Idexx Laboratories Inc. has reported 4% revenue growth from the fourth quarter of 2011 to the same quarter in 2012, with the strongest growth in the company's companion animal group.

The Westbrook-based pet diagnostic medical instrument company reported annual revenues up 6%, to $1.29 billion in 2012, up from $1.22 billion in 2011.

The company also reported in a press release today that its operating profit increased 11% in 2012, rising from $236.2 million in 2011 to $262.6 million in 2012.

Looking ahead, the company projected continued growth of 8.5% to 9.5%, which would put Idexx at just over $1.4 billion in revenue by 2014.

Only 1% of revenue came from acquisitions in 2012; the company attributed a 2% revenue drop from changes in foreign currency exchange rates.

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