Idexx Laboratories reports revenue growth in Q2 2013

Idexx Laboratories has announced its financial results for the second quarter of 2013, during which it experienced strong year-on-year growth.

The company's revenues for the period increased by five percent to $352.6 million (230.29 million pounds), while its organic revenue growth rate came to 5.5 percent and its earnings per diluted share rose by nine percent.

Positive trends include the impact of increased capacity for digital and customer information management systems sales, the growing adoption of its VetConnect Plus offering and the reorganisation of its North American diagnostic sales division.

The firm is also expanding its rapid assay product line and making plans to roll out a number of products in additional territories over the coming months.

Jonathan Ayers, the company's chairman and chief executive officer, said: "I am pleased with the companion animal group acceleration in sequential quarter organic revenue growth from 3.6 percent in the first quarter to 6.8 percent in the second quarter."

This comes after  Dr Sophie Vandebroek was appointed as a class II member of Idexx's board of directors earlier this month.