UPDATE 2-Idexx Labs Q3 beats estimates, raises 2009 view

* Q3 earnings beat estimates

* Ups FY 2009 EPS view to $1.92-$1.95 from $1.88-$1.92

* Sees 2010 EPS of $2.15 to $2.25 vs est $2.17

* Sees 2010 rev of $1.08 bln-$1.1 bln vs est $1.12 bln (Recasts; adds details, analyst comment)

By Anuradha Ramanathan

BANGALORE, Oct 23 (Reuters) - Veterinary products maker Idexx Laboratories Inc's (IDXX.O) quarterly profit beat estimates, helped by strong growth in its companion animal business, and it raised its 2009 earnings outlook as it expects certain tax benefits and lower operating expenses.

"The organic growth rate and the companion animal group are continuing to be a little bit better than people thought, I think is the number one take away," Avondale Partners analyst Daniel Owczarski said.

Pet healthcare companies, including Idexx and VCA Antech (WOOF.O), have been hit by the economic downturn as owners skipped their pets' medical appointments and cut the number of visits to the veterinarian.

Idexx said its third-quarter organic revenue growth, which excludes the impact of changes in currency exchange rates, was 5 percent and it saw strong organic growth in Asia.

The company, which also makes food and water testing products, posted net income of $31.5 million, or 52 cents a share, compared with $25.7 million, or 42 cents a share, in the year ago quarter.

Revenue rose 3 percent to $259.1 million. Revenue in the companion animal group, the company's core business, was $214.5 million.

Analysts expected the company to earn 45 cents a share, before items, on revenue of $253.2 million, according to Thomson Reuters I/B/E/S.

For 2009, Idexx reaffirmed its revenue view and raised its profit outlook to $1.92 a share to $1.95 a share, from $1.88 a share to $1.92 a share.

Analyst Owczarski said the company is "being a bit conservative going in to the fourth quarter" and that the numbers are "very achievable".

Shares of the Westbrook, Maine-based company closed at $52.60 Thursday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Aradhana Aravindan)