IDEXX Laboratories, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenues of $399,685,000 compared with $351,959,000 for the same period a year ago. Income from operations was $66,911,000 compared with $34,801,000 for the same period a year ago. Income before provision for income taxes was $59,785,000 compared with $29,862,000 for the same period a year ago. Net income attributable to stockholders was $44,349,000 or $0.48 per diluted share compared with $25,961,000 or $0.27 per diluted share for the same period a year ago. Normalized organic revenue growth for the quarter was over 11%, supported by strong growth in the Companion Animal Group ("CAG") segment.

For the full year, the company reported revenues of $1,601,892,000 compared with $1,485,807,000 for the same period a year ago. Income from operations was $299,912,000 compared with $260,255,000 for the same period a year ago. Income before provision for income taxes was $273,141,000 compared with $246,555,000 for the same period a year ago. Net income attributable to stockholders was $192,078,000 or $2.05 per diluted share compared with $181,906,000 or $1.79 per diluted share for the same period a year ago. Net cash provided by operating activities was $216,364,000 compared with $235,846,000 for the same period a year ago. Purchases of property and equipment was $82,921,000 compared with $60,523,000 for the same period a year ago. Adjusted operating profit was $308.1 million compared with $295.6 million for the same period a year ago. Adjusted earnings per share was $2.11 compared with $2.00 for the same period a year ago.

The company provided earnings guidance for the full year of 2016. For the year, the company expects to report revenues in the range of $1,690 million to $1,710 million, earnings pres hare in the range of $2.10 to $2.17 and capital expenditures of $90 million. Excluding foreign currency change impacts, guidance aligns with constant currency Adjusted EPS growth of 12% to 15%. Free cash flow is projected at 95% to 100% of net income at 2016, consistent with strategic plan outlook. The company expected to maintain gross leverage levels of approximately 3x EBITDA and expect annual interest expense of $32 million in 2016. The company full year outlook reflects the projected effective tax rate of 30% to 30.5%, including benefits from the R&D tax credit.