Thursday, May 31, 2012

IDEXX Laboratories Catches Analysts Sleeping Again

IDEXX Laboratories (Nasdaq: IDXX  ) reported earnings on Jan. 27. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), IDEXX Laboratories beat slightly on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased, and GAAP earnings per share improved.

Gross margins increased, operating margins increased, and net margins shrank.

Revenue details
IDEXX Laboratories booked revenue of $307.2 million. The nine analysts polled by S&P Capital IQ expected net sales of $303.9 million. Sales were 8.3% higher than the prior-year quarter's $283.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.67. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.63 per share on the same basis. GAAP EPS of $0.66 for Q4 were 9.7% higher than the prior-year quarter's $0.61 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 51.7%, 70 basis points better than the prior-year quarter. Operating margin was 18.0%, 10 basis points better than the prior-year quarter. Net margin was 12.4%, 40 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $314.5 million. On the bottom line, the average EPS estimate is $0.70.

Next year's average estimate for revenue is $1.30 billion. The average EPS estimate is $3.08.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 216 members out of 228 rating the stock outperform, and 12 members rating it underperform. Among 69 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 67 give IDEXX Laboratories a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on IDEXX Laboratories is outperform, with an average price target of $82.14.

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