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IDEXX Laboratories, Inc. (NASDAQ: IDXX) is a global leader in pet healthcare innovation, providing a broad range of diagnostic and information technology-based products and services to practicing veterinarians across the globe. Headquartered in Southern Maine, the company operates through more than 70 locations worldwide, serving customers in over 175 countries and employing more than 11,000 people.
IDEXX’s primary business focuses on pet health, offering products such as in-clinic diagnostic tests, instrumentation, reference laboratory and telemedicine consultation services, and practice management software. These products enhance veterinarians' ability to provide advanced medical care, improve staff efficiency, and build more economically successful practices. The company is also involved in developing diagnostic tests for the global production animal industry, including poultry and livestock, and tests for the quality and safety of water.
An important recent achievement for IDEXX is the launch of the SNAP® Leish 4Dx® Test, designed to diagnose vector-borne diseases like canine leishmaniosis in regions where these diseases are endemic. This new test will be available in Europe and Asia starting February 2024. Another significant accomplishment is the expansion of the Fecal Dx® antigen testing platform, which includes the addition of Cystoisospora, a common intestinal parasite. This expansion will roll out in North America in March 2024 and globally by the third quarter of 2024.
IDEXX also launched Vello, a software solution aimed at improving communication between veterinary practices and pet owners. This tool supports better health outcomes by engaging pet owners through digital means and is integrated with IDEXX's existing practice management software like ezyVet®, Neo®, and Cornerstone®.
Financially, IDEXX is robust, with a diverse revenue stream sourced from various products and services, including diagnostic equipment, tests, and software solutions. Approximately 35% of its revenue comes from international markets. The company is a member of the S&P 500® Index, highlighting its significant role in the industry.
For more information about IDEXX’s products and services, visit idexx.com.
IDEXX Laboratories (NASDAQ: IDXX) announced a landmark initiative to support Tuskegee University College of Veterinary Medicine (TUCVM) with a $3.6 million contribution over six years. This initiative includes nine full scholarships, mental health support, and emergency funding to enhance diversity, equity, and inclusion in veterinary medicine. TUCVM, the only veterinary program at a Historically Black College, has educated 70% of African American veterinarians. IDEXX emphasizes the importance of diverse veterinary care to meet the needs of a growing pet-owning population.
IDEXX Laboratories, a leader in veterinary diagnostics, has announced the release of its 2020 fourth quarter and full-year financial results on February 2, 2021.
Results will be available before the market opens, followed by an analyst conference call at 8:30 a.m. ET. Investors can access the live webcast and a recorded edition afterward via the IDEXX investor relations website.
IDEXX is known for its innovative diagnostic and software products that enhance veterinary services and improve operational efficiency in practices globally.
IDEXX Laboratories (NASDAQ: IDXX) has appointed Dr. Asha S. Collins, the Head of U.S. Clinical Operations at Genentech, to its Board of Directors, effective November 11, 2020. Larry Kingsley, Board Chair, stated that Dr. Collins brings valuable scientific and strategic experience. Dr. Collins expressed her enthusiasm to contribute to IDEXX's mission of enhancing health and well-being across sectors. Her background includes leadership roles at McKesson Corporation and Quintiles. IDEXX is a leader in veterinary diagnostics and healthcare innovation, employing over 9,000 individuals globally.
IDEXX Laboratories reported a 19% revenue growth for Q3 2020, reaching $722 million, primarily driven by a 23% growth in Companion Animal Group (CAG) Diagnostics recurring revenue. The company achieved an Earnings per Share (EPS) of $1.69, reflecting a 36% increase. Although the CAG business performed well, revenue was constrained by lower instrument placements and a 5% decline in Water revenues. IDEXX is cautious regarding future guidance due to the ongoing COVID-19 pandemic impacts.
IDEXX Laboratories (NASDAQ: IDXX) announced that it will release its 2020 third quarter financial results on October 29, 2020, before the market opens. An analyst conference call will follow at 8:30 a.m. ET, accessible via a live webcast on the IDEXX website. The call can also be accessed by phone with specific dialing instructions provided. IDEXX, a leader in veterinary diagnostics and pet healthcare innovation, operates globally with over 9,000 employees and serves customers in more than 175 countries.
IDEXX Laboratories (NASDAQ: IDXX) reported positive trends in the U.S. Companion Animal Market as of July 31, 2020. Same-store clinical visits rose by 6%, while total practice revenue increased by 10%. These metrics reflect continued growth in companion animal healthcare, signaling strong demand for IDEXX's veterinary diagnostics and software solutions. The insights were made available on IDEXX's investor relations website.
IDEXX Laboratories (NASDAQ: IDXX) has expanded its imaging portfolio with the introduction of the ImageVue® DR30 Digital Imaging System. This system enhances image contrast and sharpness while reducing radiation doses by 25% or more. Positioned as an affordable option, it targets veterinary practices upgrading from older systems, providing significant efficiency improvements with a 70% faster workflow. The launch reflects IDEXX's commitment to innovation in veterinary diagnostics, ensuring better care for pets and safety for veterinary staff.
IDEXX Laboratories (NASDAQ: IDXX) announced the launch of the ProCyte One Hematology Analyzer on August 12, 2020. This analyzer promises breakthrough workflow simplicity and delivers reference laboratory-quality results at the point of care. Currently available for pre-sale in North America and select European markets, volume shipping is expected in the first quarter of 2021. The ProCyte One features unique pay-per-run and auto-replenishment models, enhancing financial flexibility for veterinarians while simplifying the diagnostic process.
IDEXX Laboratories (NASDAQ: IDXX) will host its 2020 virtual Investor Day on August 13, 2020, from 10:00 am to 12:00 pm ET. This event features executive presentations and a Q&A session with the senior leadership team, including Jay Mazelsky, Brian McKeon, and others. A live webcast will be available at www.idexx.com/investors, and an archived replay will be accessible shortly after the event. As a leader in veterinary diagnostics and healthcare innovation, IDEXX serves customers in over 175 countries.
IDEXX Laboratories reports a 3% revenue increase to $638 million for Q2 2020, with 4% organic growth, bolstered by a 7% rise in Companion Animal Group (CAG) Diagnostics. EPS rose 20% to $1.72, reflecting effective cost control and operational efficiency. However, new CAG instrument placements and Water business revenues faced declines due to COVID-19 impacts. Notable growth in CAG diagnostics was observed, supported by improved clinical visit trends. The company has suspended full-year guidance amid ongoing pandemic uncertainty.
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