Fountain Report Excerpts February 14, 2023

Fountain Report Excerpts
  1. Idexx reported fourth quarter revenue of $829 million, up 3% from the prior year on a reported basis and 7% on an organic basis. Companion animal group diagnostics recurring revenue gains were 4% reported and 8% organic. Earnings per diluted share in the quarter were $2.05, up 8% as reported and 14% on a comparable basis. For the full year, revenue of $3.37 billion was up 5% reported and 7% on an organic basis, driven by 5% reported and 8% organic growth in companion animal group diagnostics recurring revenue. Full-year EPS of $8.03 were down 7% on a reported basis and 1% on a comparable basis.
  1. PetMeds Express reported third quarter net sales of $58.9 million, down 3%. Net loss was $19,000, or $(0.0) diluted earnings per share or 2 cents per diluted share excluding the effects of certain acquisition costs. This compares to net income of $4.3 million, or 21 cents diluted EPS, for the prior-year quarter. New customers increased 9% year-over-year, the first customer increase in two-and-a-half years, the company said. The board of directors declared a quarterly dividend of 30 cents per share on the company’s common stock.
  1. Long Island University held a ribbon cutting ceremony for its new College of Veterinary Medicine Learning Center on its Brookville campus. The 33,100-square-foot, $26 million facility will host courses in the four-year DVM program. LIU’s veterinary college, currently in its third year, is the only veterinary medicine program recognized by the AVMA’s Council on Education in the New York metropolitan area and one of four in the Northeast, the Long Island Press reports.

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