Idexx Animal Division Up 15%

A $157 million profit was reported by Idexx Laboratories Inc.

Idexx Laboratories Inc.’s companion animal division reported revenue of $157 million for its fourth quarter ended Dec. 31, compared to revenue of $135.94 million in the year-ago period.

The fourth quarter 15 percent increase can be attributed to higher sales in the division’s product and service categories, with the largest growth in revenue from laboratory and consulting services.

Year to date, the division reported revenue of $606.32 million, compared to revenue of $520.83 million.

Idexx said it expects to launch its next generation chemistry analyzer, Catalyst Dx, in January 2008 along with a second platform, SnapShot Dx, which will augment the immunodiagnostic capability of the Idexx VetLab suite of instruments.

“Through these launches, we expect to take the pet-side diagnostic capability of the Idexx VetLab suite to a whole new level of performance and value,” said Jonathan Ayers, chairman and chief executive officer.

Overall, Idexx reported net income of $24.67 million on revenue of $192.21 million for its fourth quarter, compared to net income of $20.03 million on revenue of $166.97 million in the year-ago period.

Year to date, the company reported net income of $93.68 million on revenue of $739.12 million, compared to net income of $78.25 million on revenue of $638.1 million in the year-ago period.

In addition, Idexx expects 2007 revenue to be $860 million to $870 million, including $28 million to $30 million of revenue attributable to recent acquisitions such as Veterinarians Ltd.

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