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IDEXX Laboratories, Inc. (IDXX) Announces First Quarter Results



4/25/2014 6:41:42 AM

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WESTBROOK, Maine, April 25, 2014 /PRNewswire/ -- IDEXX Laboratories, Inc. /quotes/zigman/73621/delayed/quotes/nls/idxx IDXX +0.02% today reported that revenues for the first quarter of 2014 increased 8% versus the prior year period to $360.2 million. Organic revenue growth1 was also 8%. Earnings per diluted share ("EPS") for the quarter ended March 31, 2014 increased 10% from the prior year period to $0.89. The first quarter of 2013 included the retroactive extension of the federal research and development tax credit, and the associated tax benefit related to that quarter, which added $0.06 to first quarter 2013 EPS, and a loss resulting from a third-party service provider's bankruptcy, which reduced first quarter 2013 EPS by $0.05. As the research and development tax credit expired as of January 1, 2014, no benefit from this provision was included in first quarter 2014 results.

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