IDEXX Raises Earnings Guidance - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) increased 2017 guidance for earnings per share to $3.22 - $3.26, $0.07 above the midpoint of prior guidance, reflecting $0.05 in discrete tax benefits and expectations for higher 2017 operating margin improvement. The company refined its 2017 revenue guidance to a tighter range with the same midpoint as previous guidance. The company updated full-year 2017 overall organic revenue growth outlook to 9.5% - 10%.

The company also provided preliminary 2018 guidance for organic revenue growth of 9% - 11%, driven by continued strong growth in CAG Diagnostics recurring revenues, and reported EPS of $3.50 - $3.62. The 2018 EPS guidance reflects projected year over year EPS growth of 8% - 12%, or 15% - 19% on a comparable constant currency growth basis.

The company reported revenues for the third quarter of 2017 of $492 million, an increase of 10% compared to the prior year period on a reported basis and 9% on an organic basis. Third quarter results were driven by 11% global organic growth in Companion Animal Group Diagnostics recurring revenue.