IDEXX Laboratories, Inc. (NASDAQ:IDXX), Westbrook, Maine, has reported that net income increased 23% to $19.7 million for the quarter ended September 30, 2004, from $16.0 million for the same period in the prior year.
Earnings per diluted share for the quarter were $0.56, a 27% increase over earnings per diluted share of $0.44 for the quarter ended September 30, 2003. For the quarter ended September 30, 2004, the revision of a contingent liability estimate resulting from settlement of a third party claim contributed an after tax benefit of $0.02 to the company's earnings per diluted share. Excluding this item, adjusted fully diluted earnings per share were $0.54, an increase of 23% from the quarter ended September 30, 2003.
Revenue for the third quarter of 2004 increased 12% to $134.1 million from $120.1 million for the third quarter of 2003. The favorable impact of currency contributed 3% to revenue growth.
Companion Animal Group (CAG) revenue for the third quarter of 2004 increased 12% to $108.8 million from $97.1 million for the third quarter of 2003. This …
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