Idexx Laboratories reports strong second-quarter financial results

Idexx Laboratories has announced its financial results for the second quarter of 2015, during which it achieved a revenue total of $413 million (264.08 million pounds).

This represented a year-on-year increase of six percent, with normalised organic revenue growth for the quarter being 11 percent, supported by strong growth in the companion animal group (CAG) and water divisions.

During the quarter, the firm's Catalyst instrument placements reached an all-time record level of over 1,100 units, while and premium haematology placements attained a new Q2 record with more than 900 units.

Jonathan Ayers, the company's chairman and chief executive officer, said: "We expect continued momentum with instrument placements and have updated our outlook to well over 9,000 chemistry and haematology instrument placements for the full year 2015."

It also achieved 13 percent normalised organic growth in recurring revenues from CAG diagnostics, supported by continued strong gains in instrument consumable and reference lab sales.

As such, Idexx is maintaining its previous 2015 financial guidance, with reported revenue growth of between eight and nine percent expected.