Idexx Laboratories Inc.
Earnings roundup: Vascular Solutions profits rocket 838 percent
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
IDEXX posts double-digit Q2 profit gains, but lowers guidance
IDEXX Laboratories Inc. (NSDQ:IDXX) lowered its guidance for full-year sales growth despite a second quarter that saw it boost its bottom line by 10 percent.
The Westbrook, Maine-based veterinary diagnostics maker reported net earnings of $37 million, or 62 cents per diluted share, on sales of $281 million during the three months ended June 30. That compares with net earnings of $33.7 million, or 55 cents per diluted share, on sales of $266 million during the same period last year.
IDEXX Labs beats Q1 earnings guidance
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.
IDEXX to pump $50 million into Maine facility
IDEXX Laboratories Inc. (NSDQ:IDXX) is looking to do some major renovations to its Westbrook, Maine headquarters.
The veterinary diagnostics maker said it is investing $50 million to build a 200,000-square-foot corporate administrative building, a move the company said could result in the addition of 500 new jobs. IDEXX employs about 1,600 workers at its Maine facility, according to the Portland Press Herald.
IDEXX Labs extends share buyback
IDEXX Laboratories Inc. (NSDQ:IDXX) expanded its stock buyback plan by 4 million shares, taking the total number it could repurchase to nearly 6.3 million.
The Westbrook, Maine-based veterinary diagnostics maker said its board of directors upped the repurchasing plan, which had about 2.3 million shares remaining as of Dec. 31, 2009, and that it can make buybacks of its own stock in the open market or through negotiated private deals.
Idexx Labs posts strong Q4 results
IDEXX Laboratories Inc. (NSDQ:IDXX) posted fourth-quarter sales of $270.3 million for the three months ended Dec. 31, 2009, up 11.1 percent compared with $243.3 million during the same period last year. Net income rose 31.4 percent to $31 million, compared with $23.6 million during Q4 2008:
