IDEXX Laboratories Inc. boosted its revenue by nearly 14 percent in the fourth quarter compared with a year earlier, exceeding analyst expectations for both sales and profits.

The Westbrook-based animal health products maker reported fourth-quarter revenue of $399.7 million, up 13.6 percent from the fourth quarter of 2014. It was about $2.3 million higher than expected. Revenue for the full year was $1.6 billion, up 8 percent from 2014.

The company reported fourth-quarter net income of $44.4 million, or $0.48 per share, beating analyst expectations by $0.04 per share. It was 2.1 percent higher than in the fourth quarter of 2014. Net income for the full year was $192.1 million, up 5.6 percent from 2014.

The company attributed much of the revenue growth to its recent transition to a direct-sales-only model for its U.S. Companion Animal Group diagnostics division. Previously, IDEXX had sold the products indirectly through resellers.


Only subscribers are eligible to post comments. Please subscribe or to participate in the conversation. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.