Idexx Laboratories reports double-digit growth in first quarter

Idexx Laboratories has announced a double-digit increase in annual revenues during the first quarter of 2012.

The company generated $322.7 million (200.46 million pounds) from sales during the quarter, up by ten percent compared to Q1 2011, while organic revenue and earnings also saw significant increases.

Key drivers of growth during the quarter included rising demand for the Catalyst Dx and ProCyte Dx instruments and related consumables, as well as higher Colilert product sales volumes thanks to new account acquisitions.

During the second quarter of this year, Idexx Laboratories plans to maintain this momentum with the launch of new products, such as the recently approved Snap 4Dx Plus Test.

Introduced in the US earlier this month, the device is able to screen for six total pathogens using just one sample, including Ehrlichia ewingii and Anaplasma platys.

Jonathan Ayers, chairman and chief executive officer of the company, said these business results "demonstrate the success of our strategy to bring innovative products and services to our veterinary and other customers, as well as strong commercial execution in markets around the world".