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January 25, 2008

Idexx reports Q4 earnings

Westbrook-based biotech firm Idexx Laboratories said today it posted strong revenue growth during the fourth quarter of 2007, but reported modest earnings growth during the three months through December.

The company credited solid growth in its companion animal business, which grew 17% during the quarter, and its veterinarian instrument business, which helped Idexx post revenue of $245 million, a 27% increase from the year-ago period.

Net income rose slightly during the fourth quarter to $25.5 million from $24.7 million during the fourth quarter of 2006. The fourth quarter also saw a nearly $3 million increase in research-and-development costs and more than $10 million more in sales and marketing expenses.

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