WESTBROOK, Maine, March 11 /PRNewswire-FirstCall/ -- IDEXX Laboratories, Inc. , today announced that it is raising its guidance for the first quarter of 2004 and the full year 2004. The revised guidance results primarily from strong performance across the Company's Companion Animal Group.
The Company now expects earnings per share for the quarter ending March 31, 2004 to be $0.43 to $0.47 per share, compared to previous guidance of $0.37 to $0.39 per share. The Company expects revenue for the quarter to be $130 million to $133 million, compared to previous guidance of approximately $125 million.
The Company is adjusting its guidance for the full year to reflect its revised expectations for the first quarter. Accordingly, the Company now expects earnings per share of $1.92 to $1.96 and revenue of $530 million to $533 million for 2004. This compares with previous guidance of earnings per share of $1.86 to $1.88 and revenue of approximately $525 million for the year.
The Company expects to report its first quarter results on April 19, 2004 and will provide further discussion of first quarter performance at that time.
IDEXX Laboratories, Inc., is a worldwide leader in the development and commercialization of innovative, technology-based products and services for animal health. The Company's largest business is focused on companion animal health, combining biotechnology, medical device technology and information technology to aid veterinarians in providing better medicine while building successful practices. IDEXX Laboratories is also focused on employing innovative technologies to monitor production animal health and the safety and quality of drinking water and milk. Headquartered in Westbrook, Maine, IDEXX Laboratories employs more than 2,400 people and offers products to customers in over 100 countries.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations of future events, which are subject to risks and uncertainties. If underlying assumptions prove inaccurate, actual results could vary materially from management's expectations. Risks and uncertainties include timing and success of new product introductions, competition and technological change, government regulation and obtaining government approvals, product demand and market acceptance, availability of products and raw materials, and litigation. A further description of these risks and uncertainties and other factors can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2003, in the section captioned "Management's Discussion and Analysis of Financial Condition and Results of Operations." The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.
Contact: Merilee Raines, Chief Financial Officer, (207)856-8155
PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
IDEXX Laboratories, Inc.