WASHINGTON (dpa-AFX) - (Adds outlook)
For the full year, IDEXX Laboratories, Inc. (IDXX) has revised down its annual outlook.
The company now expects net income per share of $10.82 to $11.20 against previous outlook of $10.84 to $11.33 per share, citing around $0.11 negative foreign exchange rate impact.
Analysts, on average, expect the company to post income per share of $11.12, for the year.
Revenue is projected to be in the range of $3.895 billion to $3.965 billion versus its earlier view of $3.930 billion to $4.04 billion. The Street estimate stands at $3.99 billion.
This new revenue outlook includes a $35 million negative impact from the recent strengthening of the dollar and a reduction of 1 percent to the high end of the organic revenue growth range to reflect near-term moderation in the U.S. clinical visit growth trends.
Q1 Results:
IDEXX reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $235.58 million, or $2.81 per share. This compares with $214.05 million, or $2.55 per share, in last year's first quarter.
Analysts on average had expected the company to earn $2.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 7.1% to $964.10 million from $900.20 million last year.
IDEXX Laboratories Inc earnings at a glance (GAAP) :
-Earnings (Q1): $235.58 Mln. vs. $214.05 Mln. last year. -EPS (Q1): $2.81 vs. $2.55 last year. -Revenue (Q1): $964.10 Mln vs. $900.20 Mln last year.
-Guidance: Full year EPS guidance: $10.82 - $11.20 Full year revenue guidance: $3,895 - $3,965 Mln
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