IDEXX Laboratories Announces First Quart...(fined above of 3% was largely the result...),Health

Date:4/24/2009

fined above, of 3% was largely the result of increased sales of laboratory and consulting services, driven by the impact of price increases, and increased IDEXX VetLab(R) sales, driven by sales of our Catalyst Dx(TM) chemistry analyzer and SNAPshot Dx(TM) analyzer, both of which we began shipping to customers at the end of the first quarter of 2008. The impact of higher average unit sales prices for IDEXX VetLab(R) consumables was largely offset by a decrease in sales volumes. These favorable items were partly offset by a decrease in rapid assay sales, resulting from lower average unit sales prices on canine and feline SNAP(R) tests due primarily to sales promotions offered within the quarter. SNAP(R) 3Dx(R) and SNAP(R)4Dx(R) volumes were appreciably higher in the first quarter of 2009 as compared to the first quarter of 2008 as a result of specific sales promotions offered for these products.

Water. Water segment revenues for the first quarter of 2009 were $15.9 million compared to $16.8 million for the first quarter of 2008. The decrease in Water revenues was due primarily to the unfavorable impact of changes in foreign currency exchange rates, which reduced reported revenue by 8%. Organic growth, as defined above, of 3% was due to the favorable impact of higher relative sales volume in countries where products sell at higher average unit sales prices, partly offset by lower sales volumes. Decreased sales volume was due primarily to lower sales volume of our Colilert(R) products, used to detect total coliforms and E. coli in water, attributable in part to lower sales in certain economically sensitive market segments.

Production Animal Segment. Production Animal Segment ("PAS") revenues for the first quarter of 2009 were $18.3 million compared to $21.2 million for the first quarter of 2008. The decrease in PAS revenues was due primarily to the unfavorable impact of changes in foreign currency exchange rates,
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SOURCE IDEXX Laboratories, Inc. Copyright©2009 PR Newswire. All rights reserved

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