<SUBMISSION>
<ACCESSION-NUMBER>0000891092-04-000264
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040126
<ITEMS>12
<FILING-DATE>20040126
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>IDEXX LABORATORIES INC /DE
<CIK>0000874716
<ASSIGNED-SIC>2835
<IRS-NUMBER>010393723
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-19271
<FILM-NUMBER>04542243
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>ONE IDEXX DRIVE
<CITY>WESTBROOK
<STATE>ME
<ZIP>04092-2041
<PHONE>2078560300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>ONE IDEXX DRIVE
<CITY>WESTBROOK
<STATE>ME
<ZIP>04092-2041
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>IDEXX CORP / DE
<DATE-CHANGED>19600201
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e16678_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
<head>
<title> 8-K</title>
</head>
<body>





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<p><table width=600><tr><td  align=center><font size=2><B>UNITED STATES  <BR>SECURITIES AND
EXCHANGE COMMISSION  <BR>Washington, D.C. 20549</B></font></td></tr></table>

<p><table width=600><tr><td  align=center><font size=2><B>FORM 8-K</B></font></td></tr></table>

<p><table width=600><tr><td  align=center><font size=2><B>CURRENT REPORT</B></font></td></tr></table>

<p><table width=600><tr><td  align=center><font size=2><B>Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934</B></font></td></tr></table>


<p><table width=600><tr><td  align=center><font size=2><B>Date of report (Date of
earliest event reported): January 26, 2004</B></font></td></tr></table>


<p><table width=600><tr><td  align=center><font size=4><B>IDEXX LABORATORIES, INC.</B></font></td></tr></table>

<table width=600><tr><td align=center><font size=1><i>(Exact name of registrant as
specified in its charter)</i></font></td></tr></table>

<p>
<p>
<table width=600>
  <tr align="center" valign="top">
    <td><font size=2><b>Delaware</b><br>
      <font size="1"><i> (State or other jurisdiction of <br>
      incorporation or organization)</i></font></font></td>
    <td><font size=2><b>000-19271</b><br>
      <font size="1"><i> (Commission file number) </i></font></font></td>
    <td><font size=2><b>01-0393723 </b><br>
      <font size="1"><i> (I.R.S. Employer Identification No.) </i></font></font></td>
  </tr>
</table>

<p>
<p>
<table width=600>
  <tr align="center" valign="top">
    <td width=367><font size=2><b>One IDEXX Drive, Westbrook, Maine</b><br>
      <font size="1"><i> (Address of principal executive offices) </i></font></font></td>
    <td width=221><font size=2><b>04092</b><br>
      <font size="1"><i> (Zip Code) </i></font></font></td>
  </tr></table>

<p><table width=600><tr><td  align=center><font size=2><B>(207) 856-0300</B></font></td></tr></table>

<table width=600><tr>
    <td align=center><font size=1><i>(Registrant&#146;s telephone number, including
      area code)</i></font></td>
  </tr></table>

<p><table width=600><tr><td  align=center><font size=2><B>Not Applicable</B></font></td></tr></table>

<table width=600><tr>
    <td align=center><font size=1><i>(Former name or former address, if changed
      since last report)</i></font></td>
  </tr></table>

<p>&nbsp;
<p>&nbsp;<hr size=5 noshade width=600 align=LEFT><p>&nbsp;











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<p><table width=600><tr><td><font size=2><B>Item 12.  Results of Operations and Financial
Condition.</B></font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January 26,
2004, IDEXX Laboratories, Inc. issued a press release  announcing earnings results for
the quarter and year ended December 31, 2003.  The full text of the press release issued
in connection with the announcement is  attached as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated  by reference into this Item 12.</font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with
general instructions to Form 8-K, the information in  this Form 8-K and the Exhibit
attached hereto is being furnished under Item 12  and shall not be deemed
&#147;filed&#148; for purposes of Section 18 of the Securities  Exchange Act of 1934 (the
&#147;Exchange Act&#148;) or otherwise subject to the  liabilities of that section, nor
shall it be deemed incorporated by reference in  any filing under the Securities Act of
1933 or the Exchange Act, except as  expressly set forth by specific reference in such a
filing.</font></td></tr></table>

<p>&nbsp;
<table width=600><tr><td width=60 align=left><font size=1>&nbsp;</font></td><td width=480 align=center><font size="2">
2</font></td><td width=60 align=right><font size="1">&nbsp;</font></td></tr></table><p>&nbsp;<hr size=5 noshade width=600 align=LEFT><p>&nbsp;







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<p><table width=600><tr><td  align=center><font size=2><B>SIGNATURES</B></font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the
requirements of the Securities Exchange Act of 1934,  the Registrant has duly caused this
report to be signed on its behalf by the  undersigned hereunto duly authorized.</font></td></tr></table>


<p>
<table width=600>
  <tr>
    <td width=263>&nbsp;</td>
    <td colspan="2">
      <p><font size=2>IDEXX LABORATORIES, INC. </font></p>
      <p>&nbsp;</p>
    </td>
  </tr>
  <tr valign="top">
    <td width=263><font size=2>Date: January 26, 2004</font></td>
    <td width=35><font size=2>By:</font></td>
    <td width=286><font size=2> /s/ Merilee Raines <br>
      </font>
      <hr noshade size="1">
      <font size=2> Merilee Raines <br>
      Vice President, Chief Financial Officer and Treasurer (Principal Financial
      and Accounting Officer)</font></td>
  </tr>
</table>

<p>&nbsp;
<table width=600><tr><td width=60 align=left><font size=1>&nbsp;</font></td><td width=480 align=center><font size="2">
3</font></td><td width=60 align=right><font size="1">&nbsp;</font></td></tr></table><p>&nbsp;<hr size=5 noshade width=600 align=LEFT><p>&nbsp;





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<p><table width=600><tr><td  align=center><font size=2><B>EXHIBIT INDEX</B></font></td></tr></table>


<P><table width=600><tr>
    <td width=16% valign=top><FONT SIZE="2">&nbsp;<U>Exhibit No.</U></FONT> </td>
    <td width=84%><FONT SIZE="2"><U> Description of Exhibit</U></FONT></td>
  </tr></table>

<P><table width=600><tr>
    <td width=16% valign=top><font size="2">&nbsp;99.1 </font></td>
    <td width=84%><font size="2"> Press Release of IDEXX Laboratories, Inc. dated
      January 26, 2004, furnished in accordance with Item 12 of this Current Report
      on Form 8-K.</font></td>
  </tr></table>


<p>&nbsp;
<p>&nbsp;<hr size=5 noshade width=600 align=LEFT><p>&nbsp;

</body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>e16678ex99-1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html>
<head>
<title> </title>
</head>
<body>

<p><table width=600><tr><td align=right><font size=2>Exhibit 99.1 </font></td></tr></table>


<p><table width=600><tr><td  align=center><font size=2>IDEXX Laboratories Announces
Fourth Quarter Results </font></td></tr></table>

<P><table width=600><tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Revenue for the fourth quarter increased 18%
      to $124.8 million. </font></td>
  </tr></table>

<table width=600><tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Net income decreased 3% to $12.4 million after
      an after-tax charge of $4.5 million, or $0.12 per diluted share, that was
      announced by the Company in October 2003 in connection with the extension
      of its collaboration with Ortho-Clinical Diagnostics, Inc., in the veterinary
      clinical chemistry market. </font></td>
  </tr></table>

<table width=600><tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Net income increased 32% to $16.9 million excluding
      the charge. </font></td>
  </tr></table>

<table width=600><tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Earnings per diluted share decreased 6% to $0.34
      after the charge of $0.12. </font></td>
  </tr></table>

<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Earnings per diluted share increased 28% to $0.46
      excluding the charge. </font></td>
  </tr></table>

<p><table width=600><tr>
    <td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WESTBROOK, Maine, Jan. 26 /PRNewswire-FirstCall/
      -- IDEXX Laboratories, Inc. (Nasdaq: IDXX), today reported that net income
      decreased 3% to $12.4 million for the quarter ended December 31, 2003, from
      $12.8 million for the same period in the prior year. During the quarter
      ended December 31, 2003, the Company incurred a previously announced after-tax
      charge of $4.5 million in connection with the extension of its collaboration
      with Ortho-Clinical Diagnostics, Inc. (&#147;OCD&#148;), a subsidiary of
      Johnson &amp; Johnson, in the veterinary clinical chemistry market. The Company&#146;s
      decision to develop a new clinical chemistry instrument based on the OCD
      dry slide technology caused the Company to discontinue development of an
      alternative chemistry instrument and to write down certain fixed assets
      purchased for production of consumables for use in that instrument. Excluding
      this charge, income increased 32% to $16.9 million. </font></td>
  </tr></table>

<p><table width=600><tr>
    <td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per diluted share
      for the quarter were $0.34, a 6% decrease over earnings per diluted share
      of $0.36 for the quarter ended December 31, 2002. Excluding the charge of
      $0.12 per share, earnings per diluted share were $0.46, an increase of 28%
      over the same period of 2002. Earnings for the quarter were favorably impacted
      by a total of $0.06 per share as a result of a reduction in the Company&#146;s
      effective tax rate, revision of an estimate of future royalty obligations
      under a technology license, and revision of an estimate of collectability
      of an account receivable. </font></td>
  </tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue for the
fourth quarter of 2003 increased 18% to $124.8 million from $105.9 million for the fourth
quarter  2002. The favorable impact of currency contributed 5% to revenue growth. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companion Animal
Group (CAG) revenue for the fourth quarter of 2003 increased 20% to $100.4 million from
$83.7  million for the fourth quarter of 2002. This increase resulted primarily from
increased sales of instruments and  consumables, laboratory services and rapid assays.
Increased instrument sales reflected the sale of 433 units of the  Company&#146;s LaserCyte(R)
Hematology Analyzer, which was introduced in the fourth quarter of 2002. CAG revenue grew
4% due  to the favorable impact of foreign currency exchange. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Food and
Environmental Group (FEG) revenue for the fourth quarter increased 10% to $24.5 million
from $22.2 million  for the fourth quarter of 2002 primarily due to the favorable impact
of foreign currency exchange. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full year results </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income
increased 26% to $57.1 million for the year ended December 31, 2003, from $45.4 million
for 2002. Earnings  per share for 2003 were $1.59 per diluted share, a 22% increase over
earnings per diluted share of $1.30 for 2002. During  the year ended December 31, 2002,
the Company incurred an after tax charge of $2.1 million, or $0.06 per diluted share,
related to the retirement of its former CEO. Excluding the effects of the fourth quarter
2003 charge for the write-down  of fixed assets and the 2002 charge, income grew 30% and
diluted earnings per share grew 27% in 2003. Revenue increased  15% to $476.0 million
from $412.7 million for 2002. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companion Animal
Group revenue for the year ended December 31, 2003, increased 18% to $384.4 million from
$326.9  million for 2002. This increase resulted primarily from increased sales of
instruments and consumables, rapid assays and  laboratory services. CAG revenue grew 4%
due to the favorable impact of foreign currency exchange. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Food and
Environmental Group revenue for the year ended December 31, 2003, increased 7% to $91.6
million from $85.8  million for 2002 primarily due to the favorable impact of foreign
currency exchange. </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Revenues for
the quarter exceeded our expectations primarily due to continued strong performance in
our Companion  Animal Group segment, where we offer veterinarians a unique integrated
menu of products and services,&#148; said Jonathan  Ayers, President and CEO.
&#147;Sales of rapid assays, especially our canine tests, and instruments were
particularly strong  during the quarter. We also benefited from the continued weakening
of the U.S. dollar.&#148; </font></td></tr></table>

<p><table width=600><tr><td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Bottom line
performance for the quarter was in line with our expectations, excluding some benefit we
received from  the reduction in tax rate and the revisions to certain estimates.  During
the quarter we continued to invest in our  business for future growth, including the
ongoing development of new diagnostic and therapeutic products and the addition  of
talent in sales and marketing, research and development, and finance.&#148; </font></td></tr></table>

<p><table width=600><tr>
    <td><font size=2>Outlook for 2004 </font></td>
  </tr></table>

<font size=2>&nbsp;&nbsp;The Company offers the following guidance for the full
year of 2004:
<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Revenue is expected to be approximately $525
      million. </font></td>
  </tr>
</table>
<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Diluted earnings per share are expected to be
      approximately $1.86 to $1.88. </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td width=100% valign=top colspan="2"><font size="2">&nbsp;The </font><font size="2">Company
      offers the following guidance for the first quarter of 2004: </font></td>
  </tr>
</table>
<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Revenue is expected to be approximately $125
      million. </font></td>
  </tr>
</table>
<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;
      </font></td>
    <td width=93%><font size="2">Operating margin is expected to be 16% to 16.5
      % of revenue. </font></td>
  </tr>
</table>
<table width=600>
  <tr>
    <td width=7% valign=top><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151; </font></td>
    <td width=93%><font size="2">Diluted earnings per share are expected to be
      $0.37 to $0.39. </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc., is
      a worldwide leader in the development and commercialization of innovative,
      technology-based products and services for animal health. The Company&#146;s
      largest business is focused on companion animal health, combining biotechnology,
      medical device technology and information technology to aid veterinarians
      in providing better medicine while building successful practices. IDEXX
      Laboratories is also focused on employing innovative technologies to monitor
      production animal health and the safety and quality of drinking water and
      milk. Headquartered in Westbrook, Maine, IDEXX Laboratories employs more
      than 2,400 people and offers products to customers in over 100 countries. </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This press release contains
      forward-looking statements as defined in the Private Securities Litigation
      Reform Act of 1995. These statements are based on management&#146;s current expectations
      of future events, which are subject to risks and uncertainties. If underlying
      assumptions prove inaccurate, actual results could vary materially from
      management&#146;s expectations. Risks and uncertainties include timing and success
      of new product introductions, competition and technological change, government
      regulation and obtaining government approvals, product demand and market
      acceptance, availability of products and raw materials, and litigation.
      A further description of these risks and uncertainties and other factors
      can be found in the Company&#146;s Annual Report on Form 10-K for the year ended
      December 31, 2002 and Quarterly Report on Form 10-Q for the quarter ended
      September 30, 2003, in the section captioned &#147;Management&#146;s Discussion
      and Analysis of Financial Condition and Results of Operations.&#148; The
      Company assumes no obligation to update any forward-looking statements as
      a result of new information or future events or developments. </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr align="left">
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries<br>
      Consolidated Statement of Operations<br>
      Amounts in thousands except per share data (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td width="40%" valign="TOP" height=16>

    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p><font size="2">Three Months Ended </font>
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p><font size="2">Twelve Months Ended </font>
    </td>
  </tr>
  <tr>
    <td width="40%" valign="TOP" height=21 rowspan="2">


    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p><font size="2">December 31,<br>
        </font><font size="2">2003 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p><font size="2">December 31,</font><font size="2"><br>
        2002 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p><font size="2">December 31,</font><font size="2"><br>
        2003 </font>
      <p align="center"></p>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Revenue: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Revenue </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$105,895 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$124,838 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$412,670 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$475,992 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Expenses and Income: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Cost of revenue </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">56,886 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">64,757 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">219,945 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">245,688 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Gross profit </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">49,009 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">60,081 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">192,725 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">230,304 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Sales and marketing </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">14,630 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">20,103 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">56,794 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">71,846 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">General and </font>
    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">administrative </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">9,412 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">9,872 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">37,541 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">39,877 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Research and development </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">7,082 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">8,302 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">29,329 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">32,319 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Other (income) and </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">expense </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(615 </font>
    </td>
    <td width="3%" valign="TOP" height=16><font size="2">)</font> </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6,484 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">3,246 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">5,875 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Income from operations </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">18,500 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">15,320 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">65,815 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">80,387 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Interest income </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">828 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">679 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">2,955 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">2,867 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Income before provision for </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">income taxes and partner&#146;s </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">interest </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">19,328 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">15,999 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">68,770 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">83,254 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Partner&#146;s share of </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">consolidated loss </font>
    </td>
    <td width="10%" valign="TOP" height=16 align="right">
      <p><font size="2">&#151; </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(114 </font>
    </td>
    <td width="3%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16 align="right">
      <p><font size="2">&#151; </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(114 </font>
    </td>
    <td width="3%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Provision for income </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">taxes </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6,571 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">3,748 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">23,381 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">26,278 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Net Income: </font>
    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Net income </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$12,757 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$12,365 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$45,389 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$57,090 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Earnings per share: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Basic </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$0.38 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$0.36 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$1.35 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$1.67 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Earnings per share: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Diluted </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$0.36 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$0.34 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$1.30 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$1.59 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Shares outstanding: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Basic </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">33,487 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">34,753 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">33,622 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">34,271 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Shares outstanding: </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="31%" valign="TOP" height=16>
      <p><font size="2">Diluted </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">35,201 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">36,416 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">35,043 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">35,931 </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
  </tr>
</table>
<p>
<table width=600>
  <tr align="left">
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Key Operating Ratios (Unaudited) </font></td>
  </tr>
</table>
<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td width="41%" valign="TOP" height=16>
    </td>
    <td valign="TOP" colspan=5 height=16 align="center">
      <p align="center"><font size="2">Three Months Ended </font>
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p align="center"><font size="2">Twelve Months Ended </font>
    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=32 rowspan="2">


    </td>
    <td valign="TOP" colspan=3 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        2002 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31<br>
        2003 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        2002 </font>
      <p align="center"></p>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        2003 </font>
      <p align="center"></p>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Key Operating </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Ratios (as a percentage of revenue): </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=16>
      <p><font size="2">Gross profit </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">46.3% </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">48.1% </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">46.7% </font>
    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">48.4% </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Sales, marketing, general </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">and administrative </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=16>
      <p><font size="2">expense </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">22.7% </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">24.0% </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">22.9% </font>
    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">23.5% </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Research and development </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=16>
      <p><font size="2">expense </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6.7% </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6.7% </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">7.1% </font>
    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6.8% </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=16>
      <p><font size="2">Income from operations </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">17.5% </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">12.3% </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">15.9% </font>
    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">16.9% </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">International Revenue: </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>

    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="41%" valign="TOP" height=16>
      <p><font size="2">International revenue </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">30.9% </font>
    </td>
    <td valign="TOP" height=16 colspan="2">

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">32.0% </font>
    </td>
    <td width="3%" valign="TOP" height=16>

    </td>
    <td width="9%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">29.4% </font>
    </td>
    <td width="5%" valign="TOP" height=16>

    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">30.3% </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Segment Information<br>
      Amounts in thousands (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td valign="TOP" height=16 width="41%">
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p align="center"><font size="2">Three Months Ended </font>
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p align="center"><font size="2">Twelve Months Ended </font>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=30 width="41%" rowspan="2">
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2003 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2003 </font>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Revenue: </font>
    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Companion Animal Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$83,651 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$100,378 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$326,897 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$384,419 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Food and Environmental </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">22,244 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">24,460 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">85,773 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">91,573 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Total </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$105,895 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$124,838 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$412,670 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$475,992 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Gross Profit: </font>
    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Companion Animal Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$35,873 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$45,058 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$142,726 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$175,612 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Food and Environmental </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">13,136 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">15,023 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">49,999 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">54,692 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Total </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$49,009 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$60,081 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$192,725 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$230,304 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Income from Operations: </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Companion Animal Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$12,468 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$7,216 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$46,052 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$55,216 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Food and Environmental </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">6,879 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">8,784 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">26,040 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">28,540 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Other </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">(847 </font>
    </td>
    <td valign="TOP" height=16 width="3%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">(680 </font>
    </td>
    <td valign="TOP" height=16 width="3%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">(6,277 </font>
    </td>
    <td valign="TOP" height=16 width="3%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">(3,369 </font>
    </td>
    <td valign="TOP" height=16 width="3%">
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Total </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$18,500 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$15,320 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">$65,815 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">$80,387 </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Gross Profit (as a percentage of revenue): </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Companion Animal Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">42.9% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">44.9% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">43.7% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">45.7% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Food and Environmental </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">59.1% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">61.4% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">58.3% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">59.7% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Operating Profit (as a percentage of revenue): </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Companion Animal Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">14.9% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">7.2% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">14.1% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">14.4% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Food and Environmental </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">

    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16 width="41%">
      <p><font size="2">Group </font>
    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">30.9% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">35.9% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="11%">
      <p align="RIGHT"><font size="2">30.4% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
    <td valign="TOP" height=16 width="12%">
      <p align="RIGHT"><font size="2">31.2% </font>
    </td>
    <td valign="TOP" height=16 width="3%">

    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>
<table width=600>
  <tr>
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Consolidated Balance Sheet <br>
      Amounts in thousands (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600 vspace="0" hspace="0">
  <tr>
    <td valign="TOP" height=22 rowspan="2">
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2003 </font>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Assets: </font>
    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Current Assets: </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Cash and cash equivalents </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$113,788 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$186,717 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Short-term investments </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">33,403 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">33,988 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Accounts receivable, net </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">45,689 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">53,976 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Inventories </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">75,086 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">75,333 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Other current assets </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">20,048 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">20,575 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total current assets </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">288,014 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">370,589 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Long-term investments </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">15,572 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">35,082 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Property and equipment - cost </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">115,309 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">112,023 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Less - Accumulated depreciation </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">65,854 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">66,799 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Property and equipment, net </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">49,455 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">45,224 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Goodwill, net </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">52,321 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">54,994 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Other intangible assets, net </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">3,836 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6,772 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Other non-current assets, net </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">8,228 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">9,214 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total assets </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$417,426 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$521,875 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Liabilities and Stockholders&#146; Equity: </font>
    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Current Liabilities: </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Accounts payable </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$9,427 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$19,160 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Accrued expenses </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">52,258 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">73,860 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Notes payable </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">973 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">494 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Deferred revenue </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">7,662 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">8,275 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total current liabilities </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">70,320 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">101,789 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Long-term Liabilities: </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Deferred tax liabilities </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">226 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">236 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Deferred revenue </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">5,907 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">5,772 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total long-term liabilities </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6,133 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">6,008 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Partner&#146;s interest in subsidiary </font>
    </td>
    <td valign="TOP" height=16 align="right">
      <p><font size="2">&#151; </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">786 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Stockholders&#146; Equity: </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Common stock, $0.10 par value: </font>
    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">authorized 60,000 shares, issued 42,331 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">shares in 2002 and 44,390 in 2003 </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">4,233 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">4,439 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Additional paid-in capital </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">334,348 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">383,249 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Deferred equity-based compensation </font>
    </td>
    <td valign="TOP" height=16 align="right">
      <p><font size="2">&#151;</font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">138 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Retained earnings </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">183,260 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">240,350 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Treasury stock (8,650 shares in 2002 and </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">9,711 shares in 2003), at cost </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(178,357 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(219,449 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Accumulated other comprehensive income (loss) </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,511 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">4,565 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total stockholders&#146; equity </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">340,973 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">413,292 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Total liabilities and stockholders&#146; equity </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$417,426 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$521,875 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>
<table width=600>
  <tr>
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Key Balance Sheet Statistics (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td width="65%" valign="TOP" height=26 rowspan="2">
    </td>
    <td valign="TOP" height=35 align="center" colspan="4" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" height=35 align="center" colspan=2 rowspan="2"><font size="2">December
      31,<br>
      </font><font size="2">2003 </font> </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" colspan=7 height=16>
      <p><font size="2">Key Balance Sheet Statistics: </font>
    </td>
  </tr>
  <tr>
    <td width="65%" valign="TOP" height=16>
      <p><font size="2">Days sales outstanding </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">40 </font>
    </td>
    <td valign="TOP" height=16 colspan="3">
      <p align="RIGHT">&nbsp;
    </td>
    <td width="11%" valign="TOP" height=16 align="right"><font size="2">38 </font></td>
    <td width="9%" valign="TOP" height=16>&nbsp;</td>
  </tr>
  <tr>
    <td width="65%" valign="TOP" height=16>
      <p><font size="2">Inventory turns </font>
    </td>
    <td width="10%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">1.5 </font>
    </td>
    <td valign="TOP" height=16 colspan="3">
      <p align="RIGHT">&nbsp;
    </td>
    <td width="11%" valign="TOP" height=16 align="right"><font size="2">1.9 </font></td>
    <td width="9%" valign="TOP" height=16>&nbsp;</td>
  </tr>
</table>
<p>&nbsp;</p>
<p>
<table width=600>
  <tr>
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Consolidated Statement of Cash Flows <br>
      Amounts in thousands (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td width="66%" valign="TOP" height=16>
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p align="center"><font size="2">Twelve Months Ended </font>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=32 rowspan="2">
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2003
        </font>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Operating: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Cash Flows from Operating Activities: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net income </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$45,389 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$57,090 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Non-cash charges </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">30,520 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">38,247 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=4 height=16>
      <p><font size="2">Changes in current assets and liabilities, </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">net of acquisitions and disposals </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">27,344 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">21,818 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net cash provided by operating activities </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$103,253 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$117,155 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Investing: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Cash Flows from Investing Activities: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Increase in investments, net </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(14,889 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(20,312 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Purchase of property and equipment, net </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(15,087 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(16,896 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Acquisition of businesses and intangible assets </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(375 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,300 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Increase in other assets </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,444 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,724 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net cash used by investing activities </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">($32,795 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">)</font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">($42,232 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">)</font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Financing: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td valign="TOP" colspan=3 height=16>
      <p><font size="2">Cash Flows from Financing Activities: </font>
    </td>
    <td width="11%" valign="TOP" height=16>

    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Repayments of note payable </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(7,462 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(510 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Purchase of treasury stock </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(29,830 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(35,817 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Proceeds from the exercise of stock options </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">11,949 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">31,165 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net cash used by financing activities </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">($25,343 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">($5,162 </font>
    </td>
    <td width="6%" valign="TOP" height=16>
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net effect of exchange rate changes </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">2,007 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">3,168 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Net increase in cash and cash equivalents </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">47,122 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">72,929 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Cash and cash equivalents, beginning of period </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">66,666 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">113,788 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
  <tr>
    <td width="66%" valign="TOP" height=16>
      <p><font size="2">Cash and cash equivalents, end of period </font>
    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$113,788 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
    <td width="11%" valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$186,717 </font>
    </td>
    <td width="6%" valign="TOP" height=16>

    </td>
  </tr>
</table>
<p>&nbsp;</p>
<p>
<table width=600>
  <tr>
    <td><font size=2>IDEXX Laboratories, Inc. and Subsidiaries <br>
      Free Cash Flow (Unaudited) </font></td>
  </tr>
</table>

<p>
<table cellspacing=0 border=0 cellpadding=0 width=600>
  <tr>
    <td valign="TOP" height=16>
    </td>
    <td valign="TOP" colspan=4 height=16 align="center">
      <p align="center"><font size="2">Twelve Months Ended </font>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=32 rowspan="2">
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2002 </font>
    </td>
    <td valign="TOP" colspan=2 height=32 align="center" rowspan="2">
      <p align="center"><font size="2">December 31,<br>
        </font><font size="2">2003 </font>
    </td>
  </tr>
  <tr> </tr>
  <tr>
    <td valign="TOP" colspan=2 height=16>
      <p><font size="2">Free Cash Flow: </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>

    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Net cash provided by operating activities </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$103,253 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$117,155 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Purchase of property and equipment </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(15,087 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(16,896 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Increase in other assets </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,444 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">(2,724 </font>
    </td>
    <td valign="TOP" height=16 width="5%">
      <p><font size="2">) </font></p>
    </td>
  </tr>
  <tr>
    <td valign="TOP" height=16>
      <p><font size="2">Free cash flow </font>
    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$85,722 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
    <td valign="TOP" height=16>
      <p align="RIGHT"><font size="2">$97,535 </font>
    </td>
    <td valign="TOP" height=16 width="5%">

    </td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td><font size=2>Free cash flow indicates the cash generated from operations
      reduced by investments in capital and other long-term assets. Free cash
      flow excludes financing activities, investments in monetary securities,
      and business acquisitions and divestitures. We feel free cash flow is a
      useful measure because it indicates the cash the operations of the business
      are generating after appropriate reinvestment for recurring investments
      in fixed assets that are required to operate the business. We believe this
      is a common financial measure useful to further evaluate the results of
      operations. </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td><font size=2>Contact: <br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Merilee Raines, <br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer, <br>
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (207) 856-8155 </font></td>
  </tr>
</table>
<p>
<table width=600>
  <tr>
    <td>
      <p><font size=2>SOURCE&nbsp;&nbsp;&nbsp;IDEXX Laboratories <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -0-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01/26/2004
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /CONTACT: Merilee Raines, Chief Financial
        Officer of IDEXX Laboratories +1-207-856-8155/ <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /First Call Analyst: / <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /FCMN Contact: / <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /Photo: http://www.newscom.com/cgi-bin/prnh/20030305/IDEXXLOGO
        <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PR Newswire
        Photo Desk, 888-776-6555 or 201-369-3467/ <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /Web site: http://www.idexx.com/ <br>
        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IDXX) </font></p>
      <p><font size="2">CO: IDEXX Laboratories <br>
        ST: Maine <br>
        IN: MTC BIO <br>
        SU: ERN </font></p>
    </td>
  </tr>
</table>
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