Idexx Laboratories Inc. of Westbrook on Friday reported revenue of $537.7 million for the first quarter, up 16 percent from $462 million in the first quarter of 2017.

The company, which produces veterinary diagnostics, veterinary practice software and water microbiology testing equipment, reported quarterly net income of $89.5 million, or $1.01 per share, up 31 percent from $69 million, or 77 cents per share, a year earlier.

The company said it achieved a record placement of premium veterinary diagnostic and other instruments in the first quarter at 2,882 instruments, a 21 percent increase over the first quarter of 2017.

The company maintained its previously reported revenue projection for 2018 of $2.21 billion to $2.25 billion, and increased its net income outlook for the year by 2 cents per share to $4.06 to $4.20 per share.

Idexx is a publicly traded company that is listed on the Nasdaq exchange under the symbol IDXX. The company, which employs about 2,500 workers in Westbrook and 7,000 globally, plans to break ground this month on a $62 million expansion at its Westbrook headquarters.

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