IDEXX Laboratories Announces First Quart...(iluted Marc...),Health

Date:4/24/2009

iluted March 31, March 31, March 31, March 31, 2009 2008 2009 2008 GAAP measurement $26,071 $27,551 $0.43 $0.43 % of revenue 11.0% 11.1% Discrete income tax benefits (1) - (1,472) - (0.02) Non-GAAP comparative measurements (2) $26,071 $26,079 $0.43 $0.41 % of revenue 11.0% 10.5% Management believes adjusted diluted EPS is a useful non-GAAP financial measure to evaluate the results of ongoing operations, excluding significant specified events, period over period, and therefore believes that investors may find this information useful in addition to the GAAP results. We use these supplemental non-GAAP financial measures to evaluate the Company's comparative financial performance. The specified items that are excluded in these non-GAAP measures are actual charges and benefits that impact net income and cash flows, however, we believe that it is useful to evaluate our core business performance period over period excluding these specified items, in addition to relying upon GAAP financial measures. (1) We believe that certain significant discrete income tax items create impacts on financial measures that are not indicative of future performance because the items are not likely to recur within a reasonable period. For 2008, the separately identified discrete income tax benefit was due to a reduction in international deferred tax liabilities due to lower anticipated international tax rates. (2) The sum of the individual items may not equal the non-GAAP measurement due to rounding of the individual items in this presentation. IDEXX Laboratories, Inc. and Subsidiaries Segment Information Amounts in thousands (Unaudited)
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SOURCE IDEXX Laboratories, Inc. Copyright©2009 PR Newswire. All rights reserved

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