IDEXX Laboratories Inc. (NSDQ:IDXX) beat its own earnings expectations during the first quarter, posting net income of $33.0 million, or 55 cents per diluted share, on sales of $268.5 million.
That’s an earnings increase of 26.7 percent for the Westbrook, Maine-based veterinary diagnostics maker, compared with the $26.1 million (43 cents per diluted share) in net income it posted during Q1 2009. Revenues for the three months ended March 31 were up 13.6 percent compared with the $236.5 million IDEXX posted during the year-ago quarter.