July 22, 2011 / 11:36 AM / 8 years ago

UPDATE 1-IDEXX Q2 beats Street, ups 2011 profit view

* Q2 EPS $0.83 vs est $0.72

* Q2 rev $317.9 mln vs est $308 mln

* Sees FY 2011 EPS $2.68-$2.73 vs est $2.70 (Follows alerts)

July 22 (Reuters) - Veterinary products maker Idexx Laboratories Inc posted a better-than-expected quarterly profit on higher revenue from its companion animal group segment, and raised its 2011 earnings outlook.

The company, which also makes food- and water-testing products, now expects full-year earnings of $2.68-$2.73 per share, up from its previous outlook of $2.66-$2.71 per share. Revenue is expected to be about $1.205-$1.215 billion.

Analysts are expecting earnings of $2.70 a share on revenue of $1.21 billion, according to Thomson Reuters I/B/E/S.

For the April-June quarter, the company earned $48.7 million, or 83 cents a share, compared with $37.2 million, or 62 cents a share, a year ago.

Revenue for the quarter rose 13 percent to $317.9 million.

Analysts were expecting the company to earn 72 cents per share on revenue of $308 million.

The company’s shares closed at $81.48 on Thursday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Roshni Menon)

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