Financial Newswire 04-30-2008

Quick financial updates from the veterinary field from April 2008.

VCA Antech Inc.

Los Angeles-based VCA Antech Inc. recently reported that its animal hospital revenue for the first quarter ending March 31 was $226.1 million, compared to revenue of $187.2 million in the year-ago period. The 20.8 percent increase was driven by acquisitions and same-store revenue growth of 1.9 percent.

The company reported laboratory revenue of $76.7 million for the first quarter, compared to $73.6 million in the year-ago period.

Medical technology revenue was $13.8 million for the first quarter, compared to $11.2 million in the year-ago period.

Overall, VCA Antech reported net income of $31.2 million on revenue of $307.8 million for the first quarter, compared to net income of $28.3 million on revenue of $265.1 million in the year-ago period.

The company’s 2008 financial guidance includes revenue from $1.3 billion to $1.33 billion.


Eli Lilly and Company

Eli Lilly and Co.’s animal health division reported U.S. sales of $107.6 million for its first quarter ended March 31, up 16 percent compared to the year-ago period. Worldwide sales were $235.3 million, an increase of 9 percent compared to the year-ago period. Sales outside the United States grew 4 percent to $127.7 million.

Overall, the company reported net income of $1.06 billion on revenue of $4.81 billion for its first quarter, compared to net income of $508.7 million on revenue of $4.23 billion in the year-ago period.

Eli Lilly is based in Indianapolis.


Wyeth

Wyeth’s animal health division recently reported revenue of $277 million for its first quarter ended March 31, consistent to revenue in the year-ago period.

Higher sales of poultry and livestock products were offset by lower sales of equine and companion animal products.

Overall, the company reported net income of $1.2 billion on revenue of $5.71 billion for its first quarter, compared to net income of $1.25 billion on revenue of $5.37 billion in the year-ago period.

Wyeth is based in Madison, N.J.


Idexx Laboratories Inc.

Idexx Laboratories Inc.’s companion animal division reported revenue of $203.61 million for its first quarter ended March 31, compared to revenue of $173.43 million in the year-ago period.

Acquisitions of reference laboratories contributed to a little under 3 percent to growth and changes in foreign currency exchange rates contributed an additional 4 percent. Growth for the quarter adjusted for acquisitions and foreign currency exchange rates was 11 percent.

Overall, the company reported net income of $27.55 million on revenue of $249.07 million for its first quarter, compared to net income of $21.03 million on revenue of $211.16 million in the year-ago period.

Idexx Laboratories offers the following revised guidance for the full year of 2008: revenue is expected to be $1.06 billion to $1.07 billion, updated from guidance of $1.05 billion to $1.07 billion provided in January, which represent revenue growth of 15 percent to 17 percent.

The company is based in Westbrook, Maine.


Schering-Plough Corp.

Schering-Plough Corp.’s animal health business recently reported revenue of $723 million its first quarter ended March 31, compared to revenue of $232 million in the year-ago period.

This 2008 figure includes net sales of $454 million from Intervet, the Organon BioSciences’ animal health business that was acquired late last year.

Overall, the company reported net income of $291 million on revenue of $4.66 billion for its first quarter ended March 31, compared to net income of $565 million on revenue of $2.98 billion in the year-ago period.

Schering-Plough is based in Kenilworth, N.J.


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