Press release
IDEXX Laboratories Announces Fourth Quarter and Full Year 2019 Results
WESTBROOK, Maine, Jan. 31, 2020 /PRNewswire/ -- Achieves revenue growth in Q4 of 10% on a reported and organic basis, driven by CAG Diagnostics recurring
About this update from Idexx Laboratories, Inc.
[{"type":"text","content":"WESTBROOK, Maine, Jan. 31, 2020 /PRNewswire/ -- \nAchieves revenue growth in Q4 of 10% on a reported and organic basis, driven by CAG Diagnostics recurring revenue reported and organic growth of 11% Reports 19% year-over-year increase in Catalyst placements at new and competitive accounts in Q4, supporting full year growth of 16% in IDEXX's premium instrument installed base Delivers full year EPS of $4.89, representing 15% growth on a reported basis and 21% on a comparable constant currency basis Increases 2020 revenue guidance to $2,620 million - $2,655 million, reflecting consistent expectations for reported and organic revenue growth of 9% - 10.5% Raises 2020 EPS outlook range by $0.12 to $5.42 - $5.58, reflecting expectations for continued strong operating trends, higher estimates for share-based compensation tax benefits and favorable adjustments to projected foreign exchange rates impactsIDEXX Laboratories, Inc. (NASDAQ: IDXX), reports revenues of $605 million for the fourth quarter of 2019, an increase of 10% compared to the prior year period on a reported and organic basis. Fourth quarter results were driven by continued high gains in Companion Animal Group (\"CAG\") Diagnostics recurring revenue globally, as well as strong growth in the Company's Water and Livestock, Poultry and Dairy (\"LPD\") businesses. Earnings per diluted share (\"EPS\") were $1.04 on a reported basis for the fourth quarter, representing EPS growth of 6% and comparable constant currency EPS growth of 17%, which excludes the impact of CEO transition charges of $0.14 per share. Comparable constant currency growth measures are non-GAAP financial measures and have been modified to exclude operating expense impact of $13 million or $0.14 per share of CEO transition charges as described in our footnotes. Fourth quarter EPS results included $0.05 per share from better than projected share-based compensation tax benefits, $0.04 from lower than projected after-tax CEO transition charges and $0.04 in combined upsides from better than expected effective tax rate and interest expense.\nRevenue for the full year of $2,407 million increased 9% on a reported and 10% on an organic basis, driven by 11% reported and 12% organic growth in CAG Diagnostics recurring revenue. For the full year 2019, EPS of $4.89 increased 15% on a reported basis and 21% on a comparable ...