2. IDEXX Laboratories (IDXX) develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, water testing and dairy markets. Broadly, the company operates in two business segments: Companion Animal Group, and Livestock and Poultry Diagnostics. Besides, IDEXX sells products for the dairy and human point-of-care medical diagnostics market. The company will release its second quarter 2011 results on July 22.
Analysts polled by Bloomberg expect IDEXX to record second-quarter net income of $42.54 million or 72 cents per share, versus $37.19 million or 62 cents per share in the same quarter prior year. Sales are expected to rise by 10% to $309.33 million from $281.48 million earlier. Operating profit is seen increasing by 14% to $62.67 million, while EBITDA is pegged 11% higher at $73.75 million.
Recently, the company announced plans to build a $60 million corporate headquarters through restricting activities at a nearby quarry, allowing the company to accommodate almost 700 new workers. Initially, the project would start with the construction of a $30 million, 107,000-square-foot building that will include offices for 300 persons, a fitness center and a food service area.Of the 12 analysts covering the stock, 33% recommend a buy and 58% suggest a hold. Analysts polled by Bloomberg foresee the stock gaining an average 2.4% to $81.50 in the upcoming 12 months.
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