Idexx Laboratories highlights positive trends in Q4 fiscal report

Idexx Laboratories has expressed confidence in its business prospects for 2011 based on encouraging data from its 2010 fourth quarter financial report.

The company has recorded revenue of $283.8 million (175.18 million pounds) during the three months ending on December 31st 2010, up by five percent year-on-year.

Its companion animal, water and production animal divisions all saw growth, while particularly strong demand was noted for its ProCyte Dx haematology analyser, which was launched during the third quarter.

For the year as a whole, Idexx Laboratories was able to improve upon its 2009 revenue total by seven percent with overall takings of $1.1 billion.

Jonathan Ayers, chairman and chief executive officer, said the firm is now on track to achieve "seven to eight percent organic revenue growth and double-digit earnings growth in 2011".

Last month, Idexx launched an improved version of its SNAP Total T4 Test in order to provide professionals with faster and more accurate analysis of thyroid disease among pets.