UPDATE 1-Idexx Labs Q2 tops estimates, cuts FY10 rev view

* Q2 EPS 62 cents vs. est 61 cents

* Q2 revenue $281.5 mln vs. est $282.2 mln

* Backs 2010 EPS view

* Cuts 2010 revenue view citing forex headwinds

July 23 (BestGrowthStock) – Veterinary products maker Idexx
Laboratories Inc (IDXX.O: ) posted a 11 percent rise in quarterly
profit that beat market estimates and backed its 2010 earnings
view, but cut full-year revenue outlook citing foreign exchange
headwinds.

Second-quarter net income was $37.2 million, or 62 cents a
share, compared to $33.7 million, or 55 cents a share, in the
year-ago period. [ID:nASA00JVX]

Revenue for the quarter rose 6 percent to $281.5 million.

Analysts on average were expecting earnings of 61 cents a
share, on revenue of $282.2 million, according to Thomson
Reuters I/B/E/S.

For 2010, the company still expects a profit of $2.23 to
$2.28 a share, but sees revenue of $1.09 billion to $1.1
billion, down from its prior view of $1.1 billion to $1.12
billion.

The change in revenue forecast was largely due to the
strengthening of the U.S. dollar against certain currencies
since the previous outlook, the company said in a statement.

Shares of the company, which also makes food and water
testing products, closed at $62.05 Thursday on Nasdaq.

Money

(Reporting by Esha Dey in Bangalore; Editing by Unnikrishnan
Nair)

UPDATE 1-Idexx Labs Q2 tops estimates, cuts FY10 rev view