Idexx Laboratories sees ten percent revenue growth in 2011

Idexx Laboratories has announced its financial results for 2011, highlighting its ten percent year-on-year growth in revenues.

The animal health company's sales for the year came to $1.22 billion (770.57 million pounds), with a strong fourth quarter revenue total of $307.2 million contributing to this performance.

Drivers of growth in the last part of the year included the contributions of its reference laboratory diagnostic and consulting services business, and its instrument and consumables division, while its Catalyst Dx and ProCyte Dx products experienced rising demand.

Jonathan Ayers, chairman and chief executive officer of Idexx, noted that these trends are occurring despite the poor health of the global economy.

He added: "Our seven percent organic growth in the fourth quarter … demonstrates our continued success in bringing innovative products and services to our veterinary and other customers."

This comes after the firm launched its new Real-Time Care workflow consultations, a service that helps veterinary practices enhance their efficiency.