IDEXX Laboratories Announces First Quart...(in part to the addition of customer serv...),Health

Supplementary Analysis of Results

The accompanying financial tables provide more information concerning our revenue and other operating results for the three months ended March 31, 2009, as well as a reconciliation of non-GAAP diluted EPS to earnings per share.

Outlook for 2009

The Company provides the following updated guidance for the full year of 2009. This guidance reflects an assumption that the value of the U.S. dollar relative to other currencies will remain at its current level for the balance of 2009. Fluctuations in foreign currency exchange rates from current levels could have a significant positive or negative impact on our actual results of operations in 2009.

• Revenues are expected to be approximately $1.0 billion, which represents a change in reported revenues of -2% compared to 2008 revenues and organic revenue growth of approximately 5%. This guidance is down from the previous guidance of $1.02 to $1.04 billion provided in January 2009, driven by a lower organic growth rate assumption reflecting our assumption that the economic conditions that we experienced in the first quarter -- slightly worse than we anticipated in January -- will continue throughout the year.
• Diluted EPS are expected to be between $1.86 to $1.90 as compared to previous guidance of $1.84 to $1.90, reflecting the benefit of our continued focus on operational efficiency and expense management in an environment of lower organic revenue growth.
• Free cash flow is expected to be approximately 100% of net income.

Conference Call and Webcast Information

IDEXX Laboratories will be hosting a conference call today at 9:00 a.m. (eastern) to discuss its first quarter results. To participate in the conference call, dial 800-230-1059 or 612-2
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