To all,
I called Idexx's Investor Relations department today and spoke with
Cathy Levendoski and asked her the following questions;
{Please keep in mind these answers are paraphrased to the best of my ability}
Question: Is the supply/inventory problem finally behind us?
Answer: Yes. Idexx has reduced inventory to a 5-6 week lead time.
Question: Are there any upcoming news announcement expected before the
next earnings report?
Answer: We cannot comment on any upcoming announcement due to our company policy. I can tell you the next earnings report is expected to
be released on February 13, 1998.
Question: Are you comfortable with the consensus earnings estimate of
.06 to .09 per share for Quarter ending December '97?
Answer: We cannot comment on earnings estimates. We have heard they
range between .06 to .09 per share.
Question: Will the Asian financial crisis have any affect on Idexx?
Answer: No, not really.
Question: There has been talk on some investor's threads of problems
with the merger of the recently acquired software divisions AVS and
PSI. How has the progress been going?
Answer: The integration has been progressing well, under the leadership of Dr Roy Pollock. Mergers such as this are never
easy but we are confident this will be a profitable addition to Idexx.
Cathy Levendoski was very helpful and said if anyone has any questions
or would like any material she would happy to help them out. Her phone number is 207-856-8155.
She also faxed to me a copy of a press release that was issued to the
veterinary industry trade press. I will recreate it below. {Please forgive any typing errors.}
NEW LEADERSHIP FOR IDEXX SOFTWARE
WESTBROOK, Maine: Dec 19, 1997--IDEXX has established new leadership
for its software division and is consolidating the division to a single location to enhance the veterinary imformation systems of the future.
The Company recently appointed Roy Pollock, DVM to Vice President of
Medical Informatics. Dr. Pollock was previously Vice President of the
Companion Animal Division for Pfizer and Director of the Center for
Medical Informatics at Cornell University. His work in informatics
earned him the Gaines "Fido" Award from the AMVA in 1989.
"I am excited to be working in veterinary software development again,"
said Pollock. "Breakthroughs in computer technology have made possible
practice tools and communication links that were inconceivable just a
few years ago. We envision a system that seamlessly links medical information sources with practice management systems. For example, information from an outside laboratory or from in-clinic diagnostic equipment would automatically be merged with medical records, invoicing and accounting systems. We also intend to capitalize on emerging technologies to improve client understanding and compliance, to allow rapid access to veterinary literature and to provide the capability for in-depth consultation with experts at remote sites."
To accelerate the growth and integration of veterinary information systems, IDEXX acquired Professional's Software Inc. [PSI] and Advanced Veterinary Systems [AVS] earlier this year. By next fall the two will be concentrated at a single location to enhance the synergy between them.
"Bringing these two great companies together will give us the critical
mass we need to develop the systems of the future. At the same time, we will continue to support and enhance existing systems on which more than 7,500 veterinary hospitals depend. While minor disruptions are possible, our goal is to make the transition transparent to customers," said Pollock.
The first new products to be introduced by IDEXX Medical Informatics will be powerful client communication tools to boost compliance and use of veterinary services. These tools will be unveiled at the North
American Veterinary Conference next month.
"We recognize the critical role information technology can play in the future of veterinary practice. The diagnostic kits, instruments and laboratory services IDEXX provides are information tools, and there is tremendous opportunity to enhance veterinary care by linking such tools to practice management software. We are delighted to have recruited Dr. Pollock to lead the effort. His work in informatics is widely known and respected," said David Shaw, IDEXX Chairman and CEO.
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EDITORIAL CONTACT:
Janet Smith
207/856-0322
IDEXX Laboratories, Inc.
One IDEXX Drive
Westbrook, ME 04092
fax: 207/856-0319 |
