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IDEXX Laboratories Announces Fourth Quarter and Full Year Results
Date:1/27/2012

e with pet owners. Our global reference laboratory and consulting services business achieved 10% organic growth for the fourth consecutive quarter. Market response to our ProCyte Dx® and Catalyst Dx® instruments continues to be very positive around the world, as we achieved our highest quarterly placement levels for each of these instrument platforms, boding well for future consumable sales. Our pace of innovation continues with the launch of the Pet Health Network®, a valuable web-based resource through which pet owners can expand their knowledge of pet health. The Pet Health Network builds on our strong foundation of offerings that help veterinarians communicate the important role of diagnostic information to pet owners."  

Revenue PerformancePlease refer to the table below entitled "Revenues and Revenue Growth Analysis by Product and Service Categories" in conjunction with the following discussion.

Companion Animal Group. Companion Animal Group ("CAG") revenues for the fourth quarter of 2011 were $251.3 million compared to $229.0 million for the fourth quarter of 2010. Organic growth of 9% was due primarily to growth in our reference laboratory diagnostic and consulting services business and in our instrument and consumables business. In the reference laboratory diagnostic and consulting services business, revenues increased due to higher sales volumes driven primarily by the acquisition of new customers and, to a lesser extent, an increase in net sales prices. The revenue increase in our instruments and consumables business was largely the result of higher sales volumes of our Catalyst Dx® and ProCyte Dx® instruments and related consumables. Revenue from acquisitions contributed 1% to revenue growth and changes in foreign currency exchange rates contributed less than 1% to revenue growth.

Water. Water segment revenues for the fourth quarter of 2011 were $20.0 mil
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SOURCE IDEXX Laboratories, Inc.
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