cha ng e : commu nicat ion
2012 Annual Review IDEXX Purpose
To be a great company that creates exceptional long-term
value for our customers, employees and shareholders
by enhancing the health and well-being of pets, people
and livestock.
Guiding Principles
Achieve and sustain market leadership
Exceed the expectations of our customers
Empower and reward our employees
Innovate with intelligence
Cultivate entrepreneurial spirit
Contribute to our communities
Overview
IDEXX enhances the health and well-being of pets, people and livestock worldwide by
developing, manufacturing and commercializing innovative products and services that
help our customers keep animals healthy and milk and water safe. Among our offerings
are cutting-edge information technology tools that transform data into knowledge,
empower the relationship between our customers and their clients and improve
business performance.
More than 80% of our revenue comes from sales of diagnostic products and services
to veterinary practices. Using our state-of-the-art pet-side tests and benchtop laboratory
systems, veterinarians obtain valuable diagnostic information in real time, during the
patient visit. Enhancing the health and well-being of pets positively contributes to the
quality of life for people who enjoy the companionship and emotional and physical
benefits that they derive from their animals.
Through our world-class 24/7 reference laboratory diagnostic and consulting services,
and the total practice integration and complete reporting provided by our advanced
digital radiography and practice management systems, IDEXX’s veterinary customers
can achieve greater efficiency, productivity and economic success.
Communication tools from IDEXX, such as IDEXX Pet Health Network® Pro, assist
our customers in guiding their clients to make the best decisions for their pet’s health
through continued dialogue, before, during and after the patient visit.
IDEXX Water is a global leader in testing water for microbial contamination. We help
ensure water safety in more than 100 countries and on all seven continents.
Our Livestock and Poultry Diagnostics business provides diagnostic tests and health
monitoring systems for production animals, enhancing productivity and food safety
around the globe.
IDEXX Dairy offers a range of tests that detect antibiotic residues and other contaminants
in milk, benefiting an estimated one billion people, many of whom rely on this essential
staple for protein and other nutrients.
OPTI™ Medical Systems provides blood gas and electrolyte analyzers and reagents to
both our companion animal business and the human healthcare market.
IDEXX Laboratories is a global company with approximately 5,400 employees in 80
locations worldwide, serving customers in more than 180 countries.
Financials
Performance Highlights
• Revenue increased 6% year-over-year to $1.293 billion, driven by 7% organic growth.1
• Diluted earnings per share (EPS) were $3.17, an increase of 14% over 2011.
• Operating cash flow was $230 million.
• Cash net of debt was $9 million at the end of 2012.
• Stock return of more than 20% compared with a 26% increase in the S&P MidCap 400 Health Care
Index and a 16% increase in the S&P MidCap 400 Index.
1 Organic growth is a non-U.S. GAAP measure and represents the percentage change in revenue during the year ended December 31, 2012,
compared to the year ended December 31, 2011, net of acquisitions and the effect from changes in foreign currency exchange rates.
2012 Total Revenue
By Business Segment
in millions
$1,072
Companion Animal Group
Financial Highlights2
Dollars and shares in millions, except per share data
Year ended December 31,
2010
2011
2012
Total revenue
Income from operations
Net income
Earnings per share: diluted
Weighted average shares outstanding: diluted
Net cash provided by operating activities
Cash and cash equivalents
Total assets
Debt
Total liabilities
Stockholders’ equity
1,103
204
141
2.37
60
179
157
897
133
323
574
1,219
236
162
2.78
58
221
184
1,031
246
491
540
1,293
263
178
3.17
56
230
224
1,104
215
467
636
2 A copy of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, which includes audited financial
statements and related footnotes, and Management’s Discussion and Analysis of Financial Condition and Results of Operations,
is included as part of this 2012 Annual Review and is incorporated herein by reference.
Total Revenue in millions
Operating Cash Flow in millions
1,024
1,032
1,103
1,219
1,293
143
175
179
221
230
$85
Water
$87
Livestock and Poultry
Diagnostics
$50
Other*
*Dairy, OPTI™Medical Systems
08
09
10
11
2012
08
09
10
11
2012
Earnings Per Share Diluted
R&D Investments in millions
1.87
2.01
2.37
2.78
3.17
71
65
69
76
82
08
09
10
11
2012
08
09
10
11
2012
Innovate with
intelligence
How do veterinarians make the most informed,
timely decisions about a pet’s health? Where
do they find test results and compare them to
last year’s, or those from five or even 10 years
ago, to see changes and identify potential health
problems? How do they transform this data into
knowledge that they can share with pet owners,
making it easier for them to make more informed
decisions about the long-term care of their pet?
And how do veterinarians facilitate an ongoing
conversation with the pet owner before, during
and after a patient visit to promote compliance,
preventive care and continued engagement?
In 2012, IDEXX transformed the way that
veterinary customers are able to access and
deliver patient information with the introduction
of two information-sharing services that IDEXX
CEO Jon Ayers calls “profound” and “the
most important innovations since IDEXX
launched point-of-care diagnostics nearly
three decades ago.”
IDEXX VetConnect® PLUS revolutionizes the
way veterinarians see their patients’ results by
using cloud technology to bring all patient
data—current and historic—together on one
screen. From the cloud, veterinarians can easily
and immediately identify trends and cross-
reference all the diagnostic results for a patient,
whether from IDEXX VetLab® in-house
analyzers, SNAP® pet-side tests or IDEXX
Reference Laboratories.
Trending a patient’s historical results can help
the veterinarian and pet owner better understand
the current health status and evolution of the
pet’s health over time. The veterinarian can
share the results with the pet owner during
the patient visit, showing the data in a visually
easy-to-understand format that creates greater
pet owner appreciation for the reasons behind
the healthcare recommendations and results in
willingness to follow those recommendations.
These face-to-face discussions build bonds that
enhance both patient and practice health.
Accessing and sharing information with the pet
owner is the transformative power of VetConnect
PLUS; carrying the conversation with the pet
owner beyond the patient visit is the genius of
IDEXX Pet Health Network® Pro.
Strengthening veterinarian/pet owner
communication between patient visits makes a
practice the first and best resource for patient
care. Pet Health Network Pro supports this
interaction through personalized, web-based
communications and educational materials
that the veterinarian can use to continually
engage pet owners. Pet Health Network Pro
is linked to both the IDEXX Cornerstone®
Practice Management System and VetConnect
PLUS. Together, these provide everything from
colorfully illustrated, pet owner-friendly diagnostic
summaries to customized patient reminders,
which keep the pet owner informed of diagnostic
results and engaged even when the pet is
healthy—all at the touch of a button from a
smartphone, tablet or computer.
This pet owner-centric offering got a thumbs-up
from the veterinary industry in November when
the American Animal Hospital Association
(AAHA) entered into a new agreement to offer its
members the Cornerstone Practice Management
System and Pet Health Network Pro pet owner
communication services. These services
combine to form the first fully integrated client
and practice management system.
Through comprehensive information-sharing,
healthy pets, happy pet owners and thriving
practices are what VetConnect PLUS and
Pet Health Network Pro are all about. With these
two services, IDEXX demonstrates once again
innovation with intelligence, adding unparalleled
value to core diagnostic information, helping the
veterinary practice move forward in a way that
exceeds their clients’ expectations and achieving
IDEXX’s Purpose of enhancing the health and
well-being of pets and people.
change : relationshipsLiving Our Guiding Principles Companion Animal Group
Instruments and
Consumables
IDEXX VetLab® in-house diagnostic instruments and associated consumables comprise our largest line of
business within the Companion Animal Group. Veterinary practices use the flexible options of IDEXX VetLab
in-house analyzers to provide comprehensive, real-time results for chemistry, hematology, urinalysis, electrolytes,
endocrinology, blood gas, coagulation and infectious disease testing. The IDEXX VetLab® Station seamlessly
integrates and stores all test results; it also produces a single, easy-to-read report and enables practitioners to
quickly access historical results.
Beginning in 2012, IDEXX VetConnect® PLUS combined in-house patient information with diagnostic results
from IDEXX Reference Laboratories. This new service lets veterinarians see up to 10 years of IDEXX diagnostic
results on one screen, providing medical insights through historical trending. By having a complete picture of a
patient’s health at their fingertips, veterinarians are empowered to more effectively guide clients in making the
best choices for their pets’ health, starting with preventive care.
In 2012, the Catalyst Dx® Chemistry Analyzer added testing that allows veterinarians the ability to deliver more
responsive care to their patients with seizures. The ProCyte Dx® Hematology Analyzer now provides morphology
results that assist in the identification of active inflammatory disease and potential bone marrow injury. In
addition, both the ProCyte Dx and LaserCyte® hematology analyzers have the added capability to run non-blood
samples, such as abdominal or chest fluids, and have increased the number of species that they can test.
In January 2013, IDEXX introduced the LaserCyte® Dx Hematology Analyzer, which combines the advanced
capabilities of the original LaserCyte analyzer with several of the new features of the ProCyte Dx analyzer.
INNOVATIONS
1.13 LaserCyte® Dx Hematology
Analyzer
9.12 ProCyte Dx® and LaserCyte®
hematology analyzers added
capability to run non-blood
samples and new species
to testing menu
+
Trending
Jan ’09 Feb ’10 Apr ’11 TODAY
Hematocrit
Ç
Ç
Ç
Ç
Hemoglobin
Ç
Ç
Ç
Ç
Glucose
Ç
Ç
Ç
Ç
BUN
Ç
Ç
Ç
Ç
change : conversations
Companion Animal Group
Rapid Assays
IDEXX SNAP® pet-side tests use gold-standard ELISA technology and proprietary bidirectional flow
technology to provide rapid, accurate and real-time results for plasma, serum, whole blood or, in
some cases, fecal samples. These highly sensitive and specific tests detect a range of infectious
diseases, including Lyme disease and other tick-borne diseases, canine and feline heartworm
disease, Giardia, feline immunodeficiency virus (FIV) and feline leukemia virus (FeLV). SNAP tests
can be run without the need for additional diagnostic equipment, but the majority can also be read,
interpreted and recorded automatically by the SNAPshot Dx® Analyzer.
Launched in 2012, the SNAP® 4Dx® Plus Test is the most comprehensive vector-borne disease
screen available on a single platform. Designed to improve veterinarians’ ability to protect dogs
and their families from vector-borne disease, the SNAP 4Dx Plus Test screens for six pathogens
and evidence of four common tick species, quickly and affordably, with just one sample.
The test has become an important communication tool since its launch. In fact, running the SNAP
4Dx Plus Test through IDEXX Reference Laboratories indicated a fourfold increase in exposure to
ticks carrying Ehrlichia spp. in the south-central and eastern regions of the United States during
2012. In addition to making this information available to pet owners on IDEXX’s dogsandticks.com,
IDEXX shared the data with veterinarians so they can offer pet owners more meaningful insight
into the value of preventive care.
INNOVATIONS
11.12 SNAP® 4Dx® Plus Test
client-friendly report
became available in
IDEXX VetConnect® PLUS
4.12 SNAP 4Dx Plus Test
change : awareness
Companion Animal Group
Reference Laboratory Diagnostic
and Consulting Services
IDEXX Reference Laboratories grew to 60 global locations in 2012, maintaining its distinction as the largest
veterinary reference laboratory network in the world. We added three facilities in the United States, and
internationally, IDEXX established a reference laboratory in close proximity to the DHL Express® Hub located
at the Leipzig/Halle Airport in Germany. This strategically positioned lab enables IDEXX to expand its offering
across mainland Europe, providing a breadth of services unmatched by our competitors. It also allows IDEXX
to deliver results more quickly—by 8:00 a.m.—to customers in Europe.
Our services include a large selection of proprietary diagnostic tests, panels and profiles to detect disease
states and conditions. More than 125 board-certified veterinary specialists, including anatomic and clinical
pathologists and internal medicine specialists, deliver pathology services and expert case guidance to our
customers. We also enhance our partnership with customers by providing the veterinary industry’s broadest
menu of telemedicine consulting services, including cardiology, radiology and specialty services, together
with recommendations for the care of exotics and wild animals through various innovative communications
channels. Consequently, we are a market leader who furnishes animal healthcare providers with deeper insight
into an animal’s health through the timely sharing of test results and our world-class consulting services.
In 2012, IDEXX Reference Laboratories expanded its portfolio by entering into an agreement with GREER® to
offer veterinarians Aller-g-complete® serum allergy testing and immunotherapy, a convenient, comprehensive
allergy system for canine, feline and equine patients. Results and immunotherapy options are available
within 2–4 working days.
INNOVATIONS
INNOVATIONS
i
10.12 Opened reference laboratory
in Leipzig, Germany, with
IDEXX-Direct® service through
the DHL Express® Hub at
Leipzig/Halle Airport
5.12
IDEXX Reference Laboratories
began offering GREER®
veterinary allergy testing
(Aller-g-complete®)
a.m.change : expectations
Companion Animal Group
Practice Management and
Digital Imaging Systems and Services
IDEXX Computer Systems is a leader in veterinary practice management solutions with its practice
management systems now used by more than 7,000 practices. Our flagship software product, IDEXX
Cornerstone® Practice Management System, is a comprehensive solution that helps veterinarians and staff
members achieve excellence in their practice by offering tools for better medical information management
and business efficiency. The release of Cornerstone version 8.3 in 2012 delivered new features that
streamline the way practices share information between systems and referral networks, among staff and
with clients. By improving communications and information sharing, Cornerstone 8.3 helps practices operate
more efficiently and strengthen client relationships.
Cornerstone 8.3 also features integration with IDEXX VetConnect® PLUS. This latest cloud-based innovation
from IDEXX Computer Systems reports all IDEXX diagnostic results from in-house and reference laboratory
testing, together, online, in one consolidated, historical view. VetConnect PLUS is accessible anytime,
anywhere, from a computer, tablet or smartphone.
IDEXX Pet Health Network® Pro is IDEXX’s new web-based client communication and education service for
veterinarians, practice managers and their teams. Its interactive set of online tools empowers the practice to
be the hub of pet health information for their clients—before, during and after every patient visit.
Together, these game-changing, innovative services are empowering veterinarians to share information with
pet owners, helping them achieve patient care goals, strengthen bonds and improve practice effectiveness
and business performance.
IDEXX I-Vision Digital Imaging Systems feature best-of-breed image capture technologies with computed
radiography and direct-capture radiography, utilizing IDEXX’s IDEXX-PACS™ Imaging Software. This
proprietary picture archiving and communications system (PACS) integrates seamlessly with Cornerstone
and other practice management systems, providing practices with streamlined work flows.
The release of IDEXX-PACS™ Imaging Software version 3.6 introduced Image Coach™, three tools that guide
technicians in optimizing image quality in real time, so practitioners can confidently and quickly give pet
owners answers and minimize patient discomfort.
IDEXX Cornerstone® Practice Management System
INNOVATIONS
10.12
IDEXX Cornerstone®
Practice Management
Software version 8.3
integrated with IDEXX
VetConnect® PLUS
7.12
IDEXX VetConnect PLUS
and IDEXX Pet Health
Network® Pro
change : relationships
Water
IDEXX is a global leader in water microbiology, providing tests that ensure the safety of drinking water
and other water supplies for an estimated two billion people in more than 100 countries around the
globe. On all seven continents, and even on the International Space Station, Colilert® is used to detect
coliforms and E. coli in water more than any other method worldwide —the test for keeping water safe
celebrated 20 years of U.S. EPA approval in 2012.
Also in 2012, the Colilert®-18/Quanti-Tray® method was published as the new worldwide standard for
detecting total coliforms and E. coli in water by the International Organization for Standardization (ISO).
ISO is the world’s largest developer of voluntary international standards and their scientific-, industrial-
and business-sector experts regularly review current ISO methods and make recommendations for
updates and improvements. The Colilert-18/Quanti-Tray method replaces the long-standing multiple
tube (most probable number) method.
In March 2012, Water introduced a line of quality-control products and proficiency testing services
to our customers worldwide after entering into a distribution relationship with NSI Solutions, Inc.
NSI manufactures and certifies reference materials, reagents and proficiency testing samples for
applications ranging from classical water chemistry and microbiology to solid and hazardous
waste analysis.
+
–
+
INNOVATIONS
6.12 Colilert®-18/Quanti-Tray®
testing method
became the new ISO
Standard 9308-2:2012
6.12 Colilert-18 obtained
AFNOR VALIDATION
for bathing water
100mLchange : opportunities
Livestock and Poultry
Diagnostics
IDEXX is a world leader in livestock and poultry tests and software that provide reliable results
for more than 50 of the most prevalent livestock and poultry diseases. Our tests are used by
laboratories, animal health officials, veterinarians and producers worldwide to detect viruses and
other diseases that can devastate herds and flocks. These consistently reliable and accurate tests
allow customers to make confident decisions about production animal health.
Livestock and Poultry Diagnostics improved the customer experience in 2012 with the launch of
an e-commerce site in North America and Europe. It offers customers a quick and convenient
online method for placing orders, tracking shipments and managing payments with the ability to
view order and invoice history.
The IDEXX Milk Pregnancy Test, the first milk-based test for detecting pregnancy as a means of
optimizing reproductive efficiency in dairy herds, launched in 2012. This test helps laboratories
make their herd health and reproductive management programs more attractive to their
customers by shortening calving intervals to increase milk production and giving veterinarians
the information and time they need to initiate proactive, preventive medicine.
IDEXX also released the IDEXX PRRS Oral Fluids Ab Test for porcine reproductive and respiratory
syndrome (PRRS) outside the United States last year. This test offers customers a new tool for
population monitoring and surveillance using convenient, noninvasive oral fluid samples. Swine
veterinarians and producers now have an efficient method for understanding changes in disease
status, helping them improve herd health and performance through early interventions.
INNOVATIONS
12.12 E-commerce site for online
ordering of kits and
consumables launched for
North America and Europe
10.12
IDEXX Milk Pregnancy Test
Ultrasound/Palpation
Pregnant (n=923) Open (n=392)
t
s
e
T
y
c
n
a
n
g
e
r
P
k
l
i
M
X
X
E
D
I
Pregnant
872
Recheck
Open
9
373
Sensitivity: 98.8% (95% CI = 97.7-99.3%)*
Specificity: 97.4% (95% CI = 95.2-98.6%)*
Rechecks: 4% of total tested (3% pregnant & 1% open)
*See IDEXX Milk Pregnancy Test validation report for full test performance data.
change : decisions104011
Dairy
IDEXX develops innovative and convenient tests for dairy processors and
farmers to ensure product quality and maintain consumer confidence. Our
tests provide fast, accurate results that ensure milk is free of antibiotic residues
and other contaminants.
In 2012, IDEXX Dairy launched a unique customer website to optimize
communication between the Company and its customers by offering content in
nine different languages. The site offers advanced functionality for customers
seeking answers to questions about various IDEXX Dairy test products, test
protocols, industry and regulatory news, and troubleshooting resources.
Developed in 2010, the SNAP® Beta-Lactam ST Test provides accurate, reliable
detection of antibiotic residue in milk without the use of a heater block. In
2012, this test was evaluated and certified by the AOAC Research Institute as
a Performance Tested MethodSM. AOAC-RI’s independent validation of IDEXX’s
findings for the SNAP Beta-Lactam ST Test confirms that we are meeting our
commitment to customers—that they can test with confidence.
INNOVATIONS
12.12 New customer-facing IDEXX
Dairy website launched
12.12
IDEXX SNAP® Beta-Lactam ST
Test certified by Association
of Analytical Communities
Research Institute (AOAC-RI)
OPTI™ Medical Systems
OPTI™ Medical Systems point-of-care analyzers and related
consumables are used in human medical clinics and hospital settings,
such as emergency rooms, operating rooms, and respiratory care and
cardiac monitoring areas, in 125 countries around the world.
OPTI Medical instruments provide time-sensitive diagnostic testing,
including blood gas, electrolyte and metabolite analysis. The OPTI
Medical manufacturing operation also supplies the VetStat® Electrolyte
and Blood Gas Analyzer and its consumables as well as the electrolyte
module and consumables for the Catalyst Dx® Chemistry Analyzer.
INNOVATIONS
4.12 Distributor partnership
established with Phoenix
AirMid Biomedical in Canada
change : simplicitychange : outcomes
Innovations and Business Developments
Companion Animal Group
Instruments and Consumables
Practice Management and Digital Imaging Systems and Services
12.12
IDEXX PRRS Oral Fluids Ab Test
Livestock and Poultry Diagnostics
1.13
LaserCyte® Dx Hematology Analyzer
1.13
IDEXX VetConnect® PLUS achieved 4500 users
9.12
ProCyte Dx® and LaserCyte® hematology analyzers
added capability to run abdominal and thoracic fluids
12.12
Acquired Sneakers Software and DVMAX product line
11.12
IDEXX VetConnect PLUS version 1.5
12.12
E-commerce site for online ordering of kits and
consumables launched for North America and Europe
12.12
IDEXX BVDV Ag Point-of-Care Test developed and
manufactured in China
9.12
ProCyte Dx Hematology Analyzer added band
neutrophil and nucleated red blood cell diagnostic
11.12
information
4.12
Collaborated with PurinaCare® to co-market Partners
in Wellness, a turnkey system for veterinary practices
to offer their own customized preventive care plans
4.12
Catalyst Dx® Chemistry Analyzer added phenobarbital
blood level testing
IDEXX and American Animal Hospital Association (AAHA)
preferred partner agreement to provide IDEXX Cornerstone®
Practice Management System and IDEXX Pet Health
Network® Pro client communication service
12.12
xChekPlus® Software
11.12
IDEXX Schmallenberg Ab Test
10.12
IDEXX Milk Pregnancy Test
10.12
IDEXX Cornerstone Practice Management Software
version 8.3 integrated with IDEXX VetConnect PLUS
10.12
IDEXX SmartOrder® automated closed-loop inventory
tracking and supply ordering system integration between
1.12
IDEXX Real-Time™ Care Work-Flow Consultations
Cornerstone® and MWI® Veterinary Supply
Rapid Assays
7.12
IDEXX VetConnect PLUS
7.12
IDEXX Pet Health Network Pro
11.12
SNAP® 4Dx® Plus Test client-friendly report became
available in IDEXX VetConnect® PLUS
7.12
IDEXX-PACS™ Imaging Software version 3.6
4.12
IDEXX Cornerstone–Cubex® fully integrated inventory
11.12
Lab 4Dx® Plus Test indicated rising exposure to ticks
management system
4.12
SNAP 4Dx Plus Test
2.12
STEPs online resource for practices
2.12
dogsandticks.com with new informational tools
1.12
Pet Health Network® (pethealthnetwork.com)
launched
1.12
IDEXX Cornerstone Practice Management Software version
8.2 integrated with IDEXX I-Vision Mobile™ application
Reference Laboratory Diagnostic and Consulting Services
12.12
Acquired VetRadiologist
11.12
Acquired SHADOWSMITHS Teleradiology
Water
12.12
10.12
Opened reference laboratory in Leipzig, Germany, with
the IDEXX-Direct® service through the DHL Express®
Hub at Leipzig/Halle Airport
6.12
Colilert®-18/Quanti-Tray® testing method became
the new ISO Standard 9308-2:2012
IDEXX Water web presence redesigned by industry segment
and introduced Regulatory Updates
9.12
IDEXX M. bovis Ab Test approved by USDA
6.12
IDEXX M. bovis Ab Test added to OIE Test Registry
4.12
Real-time PCR tests for pathogenic avian Mycoplasma:
M. gallisepticum (MG), M. synoviae (MS) and
M. meleagridis (MM)
Dairy
12.12
New customer-facing IDEXX Dairy website launched
12.12
IDEXX SNAPduo™ Beta-Tetra ST Test approved
by the Institute for Agricultural and Fisheries Research
(ILVO), East Flanders, Belgium
12.12
IDEXX SNAP® Beta-Lactam ST Test certified by
Association of Analytical Communities Research
Institute (AOAC-RI)
11.12 Aflatoxin M1 (AFM1) Positive Control for use with the
SNAP® AFM1 Test
7.12
FDA approved SNAP® NBL Test for presence of
beta-lactam in camel milk
2.12
SNAP Beta-Lactam ST and SNAPduo
Beta-Tetra ST Tests
10.12
Absolute reticulocyte count and reticulocyte
percentage added to erythrogram
6.12
Colilert-18 obtained AFNOR VALIDATION for
bathing water
OPTI™ Medical Systems
reports for complete blood counts run in
IDEXX Reference Laboratories
8.12
Opened reference laboratory in New Haven, CT
8.12
Sight Hound Radiology integrated into VetMedStat®
7.12
Canine Mast Cell Tumor (MCT) Prognostic Panel for
confirmed MCTs in dogs
7.12
Standard Equine Respiratory RealPCR™ Panel added
two new analytes
7.12
Comprehensive Equine Respiratory RealPCR™ Panel
added four new analytes
5.12
IDEXX Reference Laboratories began
offering GREER® veterinary allergy testing
6.12
20th anniversary of Colilert approval by U.S. EPA for total
coliforms and E. coli detection in drinking water
4.12
Distributor partnership established with
Phoenix AirMid Biomedical in Canada
5.12
Pseudalert® granted a waiver approval by the New
Jersey Department of Health and listed as a Department
Sanctioned Analytical Method (DSAM) by the New Jersey
DEP for compliance testing of spas and hot tubs
4.12
Enterolert®-DW approved for drinking water in Germany
and Flanders and Wallonia regions of Belgium
4.12
Colilert-18/Quanti-Tray testing method approved for
drinking water in Bosnia-Herzegovina
3.12
IDEXX partnered with NSI Solutions, Inc. to offer IDEXX-QC
products and proficiency testing services
(Aller-g-complete®)
2.12
HPC 100 mL sample size for Quanti-Tray
5.12
Opened reference laboratory in Newtown, CT
3.12
Opened reference laboratory in St. Louis, MO
2.12
eConsult integrated into VetMedStat
1.12
Canine Respiratory Disease (CRD) RealPCR™ Panel
added two new analytes plus a culture option
Corporate Information
Leadership
Jonathan W. Ayers
Chairman, President and
Chief Executive Officer
Merilee Raines
Executive Vice President,
Chief Financial Officer and
Treasurer
William E. Brown III, PhD
Executive Vice President and
Chief Scientific Officer
Jay Mazelsky
Executive Vice President
Johnny D. Powers, PhD
Executive Vice President
Michael J. Williams, PhD
Executive Vice President
Conan R. Deady
Corporate Vice President
General Counsel
Giovani Twigge
Corporate Vice President
Human Resources
George J. Fennell
Corporate Vice President
Companion Animal Customer
Facing Organization, U.S.
Daniel V. Meyaard
Corporate Vice President
Worldwide Operations and Facilities
Ali Naqui, PhD
Corporate Vice President
Asia Pacific, Latin America and Water
Alexander M. Petersen
Corporate Vice President
and General Manager
Computer Systems
James F. Polewaczyk
Corporate Vice President
Worldwide Reference Laboratories
Lance V. Berberian
Vice President and
Chief Information Officer
Olivier te Boekhorst
Vice President, General Manager
Livestock and Poultry Diagnostics
and Dairy
Board of Directors
Jonathan W. Ayers
Chairman, President and
Chief Executive Officer
IDEXX Laboratories, Inc.
Thomas Craig
Chief Executive Officer
and Founder
Shockwave International LLC
William T. End
Retired Executive Chairman
Cornerstone Brands, Inc.
Rebecca M. Henderson, PhD
Professor, Harvard University
Barry C. Johnson, PhD
Former Dean, College of Engineering
Villanova University
Brian P. McKeon
Executive Vice President and
Chief Financial Officer
Iron Mountain Incorporated
Robert J. Murray
Retired Chairman and
Chief Executive Officer
New England Business Service, Inc.
M. Anne Szostak
CEO and Founder
Szostak Partners, LLC
Joseph V. Vumbacco
Retired Vice Chairman
Health Management Associates, Inc.
Form 10-K
A copy of the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2012, is included as part of this 2012 Annual Review, has been
furnished to all stockholders together with the proxy statement for the 2013 Annual
Meeting of Stockholders, which is scheduled to be held on May 8, 2013, and
is incorporated herein by reference. Additionally, copies of the Annual Report
on Form 10-K are available on the Internet by visiting the EDGAR section of the
Securities and Exchange Commission (SEC) website (sec.gov/edgar.shtml) or
the Investors section of idexx.com. The Company will provide a copy of its Annual
Report on Form 10-K, without charge, upon written request from stockholders to
Investor Relations at the address provided below.
The Annual Report on Form 10-K is not accompanied by the exhibits that were
filed with the SEC. These exhibits are accessible on the Internet by visiting the
EDGAR section of the SEC website (sec.gov/edgar.shtml) or the Investors section
of idexx.com. Similarly, the Company will furnish any such exhibits to those
stockholders who request the same upon payment to the Company of its
reasonable expenses in furnishing such exhibits. Requests for such exhibits
should be made to Investor Relations at the address provided below.
Investor Relations
IDEXX Laboratories, Inc.
One IDEXX Drive
Westbrook, Maine 04092
Tel: 1-207-556-8155
Fax: 1-207-556-4427
Email: investorrelations@idexx.com
References to websites are inactive textual references only and the content of
our website should not be deemed incorporated by reference into this Annual
Review for any purpose.
View our interactive Annual Review
by visiting the Investors section of idexx.com.
Quarterly Reports
and Proxy Statements
Forms 10-Q and proxy statements can
be obtained via the Investors section of
idexx.com or by email.
Annual Meeting
May 8, 2013, 10:00 a.m.
IDEXX Laboratories, Inc.
Corporate Offices
One IDEXX Drive
Five Star Industrial Park
Westbrook, Maine 04092
Tel: 1-207-556-0300
Stock Listing
NASDAQ Global Select Market
Trading Symbol: IDXX
Transfer Agent and Registrar
American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, New York 11219
Tel: 1-800-937-5449
Email: info@amstock.com
Corporate Offices
IDEXX Laboratories, Inc.
One IDEXX Drive
Westbrook, Maine 04092
Tel: 1-207-556-0300
Fax: 1-207-556-4346
idexx.com
Living Our Guiding Principles
Empowering IDEXX employees means giving
them the tools and flexibility they need to
communicate with one another and to foster
innovation, collaboration and, above all,
camaraderie.
Launched in 2011, the annual “my VOICE”
Employee Engagement Survey is a catalyst for
improved communications. Innovative ways
to approach e-overload, the establishment of
collaborative work environments in many of our
facilities and new social media guidelines are
just a few examples of how the Company
identified opportunities for communication
improvement in 2012.
However, the story of one individual in our
Elmhurst, Illinois, reference laboratory truly
exemplifies how the survey inspires enhanced
communication and demonstrates how
our employees are empowered to make
positive change.
Meg Tupa-Lo is deaf, so in the fast-paced
lab environment, she used to experience
isolation and loneliness because of the inherent
communication barriers between her and her
fellow employees.
Meg’s coworkers also found sharing information
in the lab to be challenging and determined
that better communication could improve both
process and personal relationships.
Last year, Meg was approached by a number of
employees who recognized that she could help
them learn a new way to communicate.
“They said, ‘We would really like to have an
opportunity to learn some sign language. Could
you teach us?’ I was so struck by that, and I
remember saying, ‘Really? You want to learn sign
language?’” she recalls. “They wanted to get to
know me better, and that touched my heart.”
Meg snapped into action and went the extra
mile to improve communications at the
lab by offering American Sign Language
workshops for fellow employees; she also
aspires to use social media to develop online
tools to help employees communicate critical
business functions more efficiently.
The result is an improvement in the personal and
professional lives of the Elmhurst employees
who now feel a deeper connection to Meg as a
coworker and a friend.
“I feel that the ‘my VOICE’ survey has created the
opportunity for employees to share their opinions
and to speak up about what will make their lives
better here every day,” says fellow Elmhurst lab
technician, Suzanne Chevalier. “Meg has made
us aware of the way we communicate with each
other, not just with her. She has made us aware
of ourselves.”
“They said, ‘We would really like to have an opportunity to learn some sign language. Could you teach us?’
I was so struck by that, and I remember saying, ‘Really? You want to learn sign language?’”
— Meg Tupa-Lo, Laboratory Technician
change : expectationsEmpower and reward our employees
© 2013 IDEXX Laboratories, Inc. All rights reserved. • 9798-01
Cubex is a registered trademark of Cubex.
DHL and DHL Express are trademarks of DHL International GmbH.
GREER and Aller-g-complete are registered trademarks of GREER.
iPad is a registered trademark of Apple Inc.
MWI is a registered trademark of MWI Veterinary Suppy.
PurinaCare is a trademark owned by Societé des Produits Nestlé S.A.
All other ®/TM marks are owned by IDEXX Laboratories, Inc.,
or its affiliates in the United States and/or other countries.
PCR testing is a service performed pursuant to an agreement with Roche Molecular Systems, Inc.