Feb 3 (Reuters) - IDEXX Laboratories ( IDXX ) beat Wall
Street estimates for fourth-quarter revenue and profit on
Monday, helped by strong demand for its veterinary diagnostic
services despite persistent weakness in visits to the vet
clinic.
The company said it benefited from high customer retention
and strength in its veterinary software, services and diagnostic
imaging systems, supported by a continued shift to cloud-based
products.
The company's total sales for the reported quarter came in
at $954.3 million, ahead of analysts' estimates of $935 million,
according to LSEG data.
On an adjusted basis, IDEXX ( IDXX ) reported a profit of $2.62 per
share for the quarter ended Dec. 31, above estimates of $2.40
per share.
The Westbrook, Maine-based company's shares, which fell
about 25% in 2024, rose 3.4% in premarket trading.
Sales for IDEXX's ( IDXX ) companion animal group unit, its biggest
unit which offers diagnostics for pets and IT services to
veterinary clinics, rose about 6% to $870.47 million.
IDEXX ( IDXX ) forecast full-year 2025 revenue between $4.06 billion
and $4.17 billion, the midpoint of which is slightly below
analysts' estimates of $4.14 billion.
The company sees annual profit between $11.74 and $12.24 per
share. Analysts, on average, estimate it at $11.92 per share.