<SUBMISSION>
<ACCESSION-NUMBER>0000891092-04-003411
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20040723
<ITEMS>12
<FILING-DATE>20040723
<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>04927714
</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>e18510_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>






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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>UNITED STATES
                                               <BR>SECURITIES AND EXCHANGE COMMISSION
                                                     <BR>Washington, D.C. 20549 </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>FORM 8-K </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>CURRENT REPORT </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934 </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Date of report (Date
of earliest event reported): July 23, 2004 </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B><font size="4">IDEXX
  LABORATORIES, INC. </font><BR>
  </B><font size="1"><i>(Exact name of registrant as specified in its charter)
  </i></font></FONT></P>

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<TABLE WIDTH=100%>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%><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 WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2><b>000-19271</b> <br>
      <font size="1"><i>(Commission file number)</i></font> &nbsp;</FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2> <b>01-0393723</b> <br>
      <font size="1"><i>(IRS Employer Identification No.)</i></font> &nbsp;</FONT></TD>
  </TR>
 </TABLE>


<br>
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<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="center">
    <td width="32%"><font face="Times New Roman, Times, Serif" size=2><b>One IDEXX
      Drive, Westbrook, Maine</b> <br>
      <i><font size="1">(Address of principal executive offices)</font></i></font></td>
    <td width="16%">&nbsp;&nbsp;</td>
    <td width="22%">&nbsp;&nbsp;</td>
    <td width="30%"><font face="Times New Roman, Times, Serif" size=2><b>04092</b>
      <br>
      <i><font size="1">(ZIP Code)</font></i></font></td>
  </tr>
</table>
<p align="center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>207-856-0300
  <br>
  </B><font size="1"><i> (Registrant&#146;s telephone number, including area code)</i></font><B>
  </B></FONT></p>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Not Applicable
  <br>
  </B><font size="1"><i> (Former name or former address, if changed since last
  report)</i></font><B> </B></FONT></P>


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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR ALIGN=LEFT WIDTH=100% SIZE=5 noshade><P>&nbsp;





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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 12. &nbsp;&nbsp;Results
  of Operations and Financial Condition. </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
July 23, 2004, IDEXX Laboratories, Inc. issued a press release announcing earnings
results for the quarter ended June 30, 2004. The full text of the press release issued in
connection with the announcement is furnished as Exhibit 99.1 to this Current Report on
Form 8-K. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&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></P>


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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
2</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR ALIGN=LEFT WIDTH=100% SIZE=5 noshade><P>&nbsp;

<PAGE>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SIGNATURES </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&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></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="left" valign="top">
    <td width="60%">&nbsp;</td>
    <td colspan="2"><font face="Times New Roman, Times, Serif" size=2>IDEXX LABORATORIES,
      INC.</font></td>
  </tr>
  <tr align="left" valign="top">
    <td width="60%">&nbsp;</td>
    <td width="3%">&nbsp;</td>
    <td width="36%">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td width="60%"><font face="Times New Roman, Times, Serif" size=2>Date: July
      23, 2004</font></td>
    <td align="left" width="3%"><font face="Times New Roman, Times, Serif" size=2>By:</font></td>
    <td width="36%"><font face="Times New Roman, Times, Serif" size=2>/s/ Merilee
      Raines</font>
      <hr size="1" noshade>
    </td>
  </tr>
  <tr align="left" valign="top">
    <td width="60%">&nbsp;</td>
    <td width="3%">&nbsp;</td>
    <td width="36%"><font face="Times New Roman, Times, Serif" size=2>Merilee
      Raines <br>
      Vice President, Chief Financial Officer and Treasurer <br>
      (Principal Financial and Accounting Officer)</font></td>
  </tr>
</table>
<p>&nbsp;</p><TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
3</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR ALIGN=LEFT WIDTH=100% SIZE=5 noshade><P>&nbsp;





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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>EXHIBIT INDEX </B></FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=bottom align="left">
    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Exhibit
      No.</u> </FONT></TD>
    <TD WIDTH=2%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
    <TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <u>Description
      of Exhibit</u> </FONT></TD>
  </TR>
  <tr valign=bottom align="left">
    <td width=10%>&nbsp;</td>
    <td width=5%>&nbsp;</td>
    <td width=85%>&nbsp;</td>
  </tr>
  <tr valign=bottom align="left">
    <td width=10%><font face="Times New Roman, Times, Serif" size=2> &nbsp;99.1</font></td>
    <td width=5%><font face="Times New Roman, Times, Serif" size=2> </font></td>
    <td width=85%><font face="Times New Roman, Times, Serif" size=2>Press Release
      of IDEXX Laboratories, Inc. dated July 23, 2004, furnished in accordance
      with Item 12 of this Current Report on Form 8-K. </font></td>
  </tr>
</TABLE>
<BR>
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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e18510ex99-1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY>






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<IMG SRC="idexx.gif">

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<A NAME=A005></A>
<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;Contact:
Merilee Raines, Chief Financial Officer, (207) 856-8155</I> </FONT></P>

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<A NAME=A006></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>FOR IMMEDIATE RELEASE </FONT></H1>

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<A NAME=A007></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>IDEXX Laboratories
Announces Second Quarter Results </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>WESTBROOK, Maine, July 23,
2004</B> &#151; IDEXX Laboratories, Inc. (NASDAQ: IDXX), today reported that net income
increased 43% to $23.9 million for the quarter ended June 30, 2004, from $16.7 million for
the same period in the prior year. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings
per diluted share for the quarter were $0.66, a 40% increase over earnings per diluted
share of $0.47 for the quarter ended June 30, 2003. During the quarter ended June 30,
2004, the Company&#146;s earnings per diluted share included a net benefit of $0.06 due to
a reduction in the Company&#146;s provision for income taxes primarily related to the
completion of an IRS audit through the year 2001 and changes to certain state and
international tax estimates, partially offset by the year-to-date impact of an increase in
the effective tax rate from 32.0% to 33.25%. In addition, earnings per diluted share
increased approximately $0.03 per share due to a reduction in estimated liability for a
third party claim and the effect of a payment received by the Company to settle certain
litigation. Excluding these items that benefited earnings per share by a total of $0.09
per share, adjusted fully diluted earnings per share were $0.57, an increase of 21% from
the quarter ended June 30, 2003. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue
for the second quarter of 2004 increased 13% to $137.4 million from $121.8 million for the
second quarter of 2003. The favorable impact of currency contributed 2% to revenue growth. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companion
Animal Group (CAG) revenue for the second quarter of 2004 increased 14% to $112.7 million
from $98.8 million for the second quarter of 2003. This increase resulted primarily from
increased sales of instruments and consumables, laboratory services, rapid assays and
pharmaceutical products. The increase in laboratory services revenue was due in part to
veterinary laboratory acquisitions in late 2003 and early 2004. The favorable impact of
foreign currency contributed 2% to revenue growth. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water
segment revenue for the second quarter increased 15% to $13.0 million from $11.3 million
for the second quarter of 2003 primarily due to increased sales in Europe and, to a lesser
extent, in North America. The favorable impact of foreign currency contributed 4% to
revenue growth. </FONT></P>


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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>






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<A NAME=A001></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results<BR>
  July 23, 2004<BR>Page 2 of 7 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Food
Diagnostics Group (FDG) revenue for the second quarter decreased 1% to $11.6 million from
$11.8 million for the second quarter of 2003. The impact of foreign currency increased
reported revenue by 4%. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;In
the second quarter, strong end customer demand resulted in continued revenue growth across
our Companion Animal Group and from our Water business,&#148; said Jonathan W. Ayers,
President and CEO. &#147;This growth was accompanied by nice gross margin improvement. We
are continuing to invest in our business to drive sustained growth in revenues and profits
in 2005 and beyond.&#148; </FONT></P>

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<A NAME=A008></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Year-to-date results </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year-to-date
net income for 2004 was $41.7 million, an increase of 45% over net income of $28.8 million
for the same period in the prior year. Year-to-date earnings per diluted share were $1.14
per diluted share, a 41% increase over earnings per diluted share of $0.81 for the same
period in the prior year. Excluding the effects of the tax, third party claim and
litigation related items discussed above, adjusted income and earnings per diluted share
increased 32% and 28%, respectively. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Year-to-date
revenue increased 17% to $270.8 million from $231.1 million for the same period in 2003.
The favorable impact of currency contributed 4% to revenue growth. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Companion
Animal Group (CAG) revenue for the six months ended June 30, 2004 increased 19% to $222.6
million from $187.0 million. This increase resulted primarily from increased sales of
instruments and consumables, laboratory services, rapid assays and pharmaceutical
products. The favorable impact of currency contributed 3% to year-to-date revenue growth. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Water
segment revenue for the six months ended June 30, 2004 increased 16% to $24.9 million from
$21.4 million primarily due to increased sales in Europe and to a lesser extent North
America. The favorable impact of foreign currency contributed 5% to year-to-date revenue
growth. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Food
Diagnostics Group (FDG) revenue for the six months ended June 30, 2004 increased 3% to
$23.4 million from $22.8 million for the same period in 2003. The favorable impact of
foreign currency increased revenue growth by 6%. </FONT></P>


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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results<br>
  July 23, 2004<BR>
  Page 3 of 7 </FONT></P>


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<A NAME=A009></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Outlook </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company offers the following guidance for the third quarter of 2004: </FONT></P>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Revenue
is expected to be $134 to $135 million.</FONT></TD></TR></TABLE>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Operating
margin is expected to be 19% to 19.5% of revenue. </FONT></TD></TR></TABLE>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Diluted
earnings per share are expected to be approximately $0.49. </FONT></TD></TR></TABLE>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company offers the following guidance for the full year of 2004: </FONT></P>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Revenue
is expected to be approximately $538 to $542 million. </FONT></TD></TR></TABLE>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Diluted
earnings per share are expected to be approximately $2.11 to $2.13. Excluding the $0.09
per share described above for revisions to certain estimates and a litigation settlement
in the second quarter, non-GAAP diluted earnings per share are expected to be $2.02 to
$2.04. </FONT></TD></TR></TABLE>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company offers the following preliminary guidance for 2005: </FONT></P>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Revenue
is expected to be approximately $590 to $600 million. </FONT></TD></TR></TABLE>

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<TABLE WIDTH=100%>
  <TR>
    <TD WIDTH=10%></TD>
    <TD WIDTH=2% VALIGN=top><FONT SIZE=3>&#149;</FONT></TD>
    <TD WIDTH=3%></TD>
    <TD WIDTH=85%><FONT SIZE=2>Diluted
earnings per share are expected to be approximately $2.20 to $2.25. </FONT></TD></TR></TABLE>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&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 veterinary, food and water
applications. 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&#146; food and water businesses are 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
2,500 people and offers products to customers in over 100 countries. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>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 of products, 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, 2003, and</I> <I>the Quarterly Report on Form 10-Q for the quarter
ended March 31, 2004, 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.</I> </FONT></P>


<!-- MARKER FORMAT-SHEET="Page Break Center" FSL="Workstation" -->
<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 6; page: 6" --> <!-- MARKER FORMAT-SHEET="Left Head 2 Bold Italic" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results<br>
  July 23, 2004<BR>
  Page 4 of 7 </FONT></P>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom">
    <td colspan="8"> <b><font size="2">IDEXX Laboratories, Inc. and Subsidiaries</font></b>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8"> <b><font size="2">Consolidated Statement of Operations</font></b>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8"> <font size="2"><i>Amounts in thousands except per share data
      (Unaudited)</i></font> </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td colspan="2" align="right"> <b><font size="2">Three Months Ended</font></b>
    </td>
    <td align="right"> <b></b></td>
    <td colspan="2" align="right"><b><font size="2">Six Months Ended</font></b>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <td align="right"> <b><font size="2">2003</font></b></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <td align="right"> <b><font size="2">2003</font></b></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Revenue:</font></b></td>
    <td> <font size="2">Revenue</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$137,379</font></td>
    <td align="right"> <font size="2">$121,846</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">$270,796</font></td>
    <td align="right"> <font size="2">$231,093</font></td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Expenses and</font></b></td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Income:</font></b></td>
    <td> <font size="2">Cost of revenue</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">65,377</font></td>
    <td align="right"> <font size="2">62,175</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">131,748</font></td>
    <td align="right"> <font size="2">119,960</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Gross profit</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">72,002</font></td>
    <td align="right"> <font size="2">59,671</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">139,048</font></td>
    <td align="right"> <font size="2">111,133</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Sales and marketing</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">20,679</font></td>
    <td align="right"> <font size="2">17,198</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">41,662</font></td>
    <td align="right"> <font size="2">33,521</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">General and administrative</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">11,583</font></td>
    <td align="right"> <font size="2">9,835</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">23,825</font></td>
    <td align="right"> <font size="2">20,190</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Research and development</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">8,685</font></td>
    <td align="right"> <font size="2">8,304</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">17,205</font></td>
    <td align="right"> <font size="2">15,641</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Income from operations</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">31,055</font></td>
    <td align="right"> <font size="2">24,334</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">56,356</font></td>
    <td align="right"> <font size="2">41,781</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Interest income, net</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">756</font></td>
    <td align="right"> <font size="2">764</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">1,485</font></td>
    <td align="right"> <font size="2">1,454</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Income before provision for income taxes</font></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">&nbsp;&nbsp;&nbsp;and partner&#146;s interest</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">31,811</font></td>
    <td align="right"> <font size="2">25,098</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">57,841</font></td>
    <td align="right"> <font size="2">43,235</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Partner&#146;s share of consolidated loss</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">73</font></td>
    <td align="right"><font size="2">&#151;</font> </td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">206</font></td>
    <td align="right"><font size="2">&#151; </font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Provision for income taxes</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">7,974</font></td>
    <td align="right"> <font size="2">8,408</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">16,346</font></td>
    <td align="right"> <font size="2">14,483</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Net Income:</font></b></td>
    <td> <font size="2">Net income</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;23,910</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;16,690</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;41,701</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;28,752</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Earnings per share: Basic</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.69</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.49</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.85</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Earnings per share: Diluted</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.66</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.47</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.14</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.81</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Shares outstanding: Basic</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">34,584</font></td>
    <td align="right"> <font size="2">34,100</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">34,679</font></td>
    <td align="right"> <font size="2">33,956</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Shares outstanding: Diluted</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">36,423</font></td>
    <td align="right"> <font size="2">35,531</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">36,447</font></td>
    <td align="right"> <font size="2">35,526</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
</table>
<br>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom">
    <td colspan="8"> <font size="2"><b>IDEXX Laboratories, Inc. and Subsidiaries</b></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8"> <font size="2"><b>Key Operating Ratios</b><i> (Unaudited)</i></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td colspan="2" align="right"> <b><font size="2">Three Months Ended</font>
      </b></td>
    <td align="right">&nbsp; </td>
    <td colspan="2" align="right"><b><font size="2">Six Months Ended</font> </b></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
    <td align="right"> <b><font size="2">June 30,</font></b></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <td align="right"> <b><font size="2">2003</font></b></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <td align="right"> <b><font size="2">2003</font></b></td>
  </tr>
  <tr valign="bottom">
    <td height="18">&nbsp;</td>
    <td colspan="7" height="18">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Key Operating</font></b></td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Ratios <font size="1">(as a</font></font></b></td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td> <font size="1"><b>percentage of</b></font></td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td> <font size="1"><b>revenue):</b></font></td>
    <td> <font size="2">Gross profit</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">52.4%</font></td>
    <td align="right"> <font size="2">49.0%</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">51.3%</font></td>
    <td align="right"> <font size="2">48.1%</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Sales, marketing, general and</font></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;administrative expense</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">23.5%</font></td>
    <td align="right"> <font size="2">22.2%</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">24.1%</font></td>
    <td align="right"> <font size="2">23.2%</font></td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Research and development expense</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">6.3%</font></td>
    <td align="right"> <font size="2">6.8%</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">6.4%</font></td>
    <td align="right"> <font size="2">6.8%</font></td>
  </tr>
  <tr valign="bottom">
    <td height="18">&nbsp;</td>
    <td colspan="7" height="18">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td>&nbsp; </td>
    <td> <font size="2">Income from operations</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">22.6%</font></td>
    <td align="right"> <font size="2">20.0%</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">20.8%</font></td>
    <td align="right"> <font size="2">18.1%</font></td>
  </tr>
  <tr valign="bottom">
    <td height="18">&nbsp;</td>
    <td colspan="7" height="18">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">International</font></b></td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <td align="right">&nbsp; </td>
  </tr>
  <tr valign="bottom">
    <td> <b><font size="2">Revenue:</font></b></td>
    <td> <font size="2">International revenue</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">30.7%</font></td>
    <td align="right"> <font size="2">30.1%</font></td>
    <td align="right">&nbsp; </td>
    <td align="right"> <font size="2">31.0%</font></td>
    <td align="right"> <font size="2">30.0%</font></td>
  </tr>
  <tr valign="bottom">
    <td height="18">&nbsp;</td>
    <td colspan="7" height="18">
      <hr size="1" noshade>
    </td>
  </tr>
</table>
<p>&nbsp;</p>
<P ALIGN=LEFT>&nbsp;</P>



<!-- MARKER FORMAT-SHEET="Page Break Center" FSL="Workstation" -->
<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 7; page: 7" --> <!-- MARKER FORMAT-SHEET="Left Head 2 Bold Italic" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results<br>
  July 23, 2004<BR>
  Page 5 of 7 </FONT></P>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom" align="left">
    <td colspan="11"> <b><font size="2">IDEXX Laboratories, Inc. and Subsidiaries</font></b>
      <b></b> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="11"><b><font size="2">Segment Information</font></b></td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="11"> <i><font size="2">Amounts in thousands (Unaudited)</font></i>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td width=150>&nbsp; </td>
    <td width=13>&nbsp;</td>
    <td width=67>&nbsp; </td>
    <td width=20>&nbsp; </td>
    <td width=65>&nbsp; </td>
    <td width=11>&nbsp;</td>
    <td width=62>&nbsp; </td>
    <td width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp;</td>
    <td width=194>&nbsp;</td>
    <td width=1>&nbsp;</td>
    <td valign=bottom align="right" width=230 colspan="3"><b><font size="2">Three
      Months Ended</font></b></td>
    <td valign=bottom align="right" width=20>&nbsp;</td>
    <td valign=bottom align="right" width=138 colspan="3"><b><font size="2">Six
      Months Ended</font></b></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <b><font size="2">June 30,</font></b></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <b><font size="2">June 30,</font></b></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <b><font size="2">June 30,</font></b></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <b><font size="2">June 30,</font></b></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <b><font size="2">2004</font></b></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <b><font size="2">2003</font></b></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <b><font size="2">2004</font></b></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <b><font size="2">2003</font></b></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Revenue:</font></b></td>
    <td width=194> <font size="2">Companion Animal Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$112,731</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$&nbsp;&nbsp;98,794</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$222,561</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$186,982</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Water</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">13,004</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">11,292</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">24,858</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">21,360</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Food Diagnostics Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">11,644</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">11,760</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">23,377</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">22,751</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Total</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$137,379</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$121,846</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$270,796</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$231,093</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Gross Profit:</font></b></td>
    <td width=194> <font size="2">Companion Animal Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$&nbsp;&nbsp;56,109</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$&nbsp;&nbsp;46,242</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$108,185</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$&nbsp;&nbsp;85,649</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Water</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">8,748</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">7,463</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">16,741</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">14,027</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Food Diagnostics Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">7,145</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">5,966</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">14,122</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">11,457</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Total</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$&nbsp;&nbsp;72,002</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$&nbsp;&nbsp;59,671</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$139,048</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$111,133</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Income from</font></b></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Operations:</font></b></td>
    <td width=194> <font size="2">Companion Animal Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$&nbsp;&nbsp;23,461</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$&nbsp;&nbsp;18,525</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$&nbsp;&nbsp;41,709</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$&nbsp;&nbsp;31,212</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Water</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">5,972</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">4,648</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">11,027</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">8,761</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Food Diagnostics Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">2,397</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">1,904</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">5,320</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">3,349</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Other</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">(775</font></td>
    <td valign=bottom align="left" width=13><font size="2">)</font></td>
    <td valign=bottom align="right" width=67> <font size="2">(743</font></td>
    <td valign=bottom align="left" width=20><font size="2">)</font></td>
    <td valign=bottom align="right" width=65> <font size="2">(1,700</font></td>
    <td valign=bottom align="left" width=11><font size="2">)</font></td>
    <td valign=bottom align="right" width=62> <font size="2">(1,541</font></td>
    <td valign=bottom align="left" width=16><font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Total</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">$&nbsp;&nbsp;31,055</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">$&nbsp;&nbsp; 24,334</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">$&nbsp;&nbsp;56,356</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">$&nbsp;&nbsp;41,781</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width="101">&nbsp;</td>
    <td colspan="10">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Gross Profit</font></b></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <font size="1"><b>(as a </b></font></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <font size="1"><b>percentage of </b></font></td>
    <td width=194> <font size="2">Companion Animal Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">49.8%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">46.8%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">48.6%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">45.8%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <font size="1"><b>revenue):</b></font></td>
    <td width=194> <font size="2">Water</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">67.3%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">66.1%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">67.3%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">65.7%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Food Diagnostics Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">61.4%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">50.7%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">60.4%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">50.4%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Operating</font></b></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <b><font size="2">Profit <font size="1">(as a</font></font></b></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <font size="1"><b>percentage of </b></font></td>
    <td width=194>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150>&nbsp; </td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67>&nbsp; </td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65>&nbsp; </td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62>&nbsp; </td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101> <font size="1"><b>revenue):</b></font></td>
    <td width=194> <font size="2">Companion Animal Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">20.8%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">18.8%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">18.7%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">16.7%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Water</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">45.9%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">41.2%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">44.4%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">41.0%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=101>&nbsp; </td>
    <td width=194> <font size="2">Food Diagnostics Group</font></td>
    <td width=1>&nbsp; </td>
    <td valign=bottom align="right" width=150> <font size="2">20.6%</font></td>
    <td valign=bottom align="right" width=13>&nbsp;</td>
    <td valign=bottom align="right" width=67> <font size="2">16.2%</font></td>
    <td valign=bottom align="right" width=20>&nbsp; </td>
    <td valign=bottom align="right" width=65> <font size="2">22.8%</font></td>
    <td valign=bottom align="right" width=11>&nbsp;</td>
    <td valign=bottom align="right" width=62> <font size="2">14.7%</font></td>
    <td valign=bottom align="right" width=16>&nbsp;</td>
  </tr>
</table>
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<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>
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<!-- MARKER PAGE="sheet: 7; page: 7" --> <!-- MARKER FORMAT-SHEET="Left Head 2 Bold Italic" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results <BR>
  July 23, 2004<BR>
  Page 6 of 7 </FONT></P>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom" align="left">
    <td colspan="8"> <b><font size="2">IDEXX Laboratories, Inc. and Subsidiaries</font></b>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <b><font size="2">Consolidated Balance Sheet</font></b> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <i><font size="2">Amounts in thousands (Unaudited)</font></i>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td width=115>&nbsp; </td>
    <td width=12>&nbsp; </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <b><font size="2">June 30,</font></b></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp;&nbsp; </td>
    <td align="right" valign="bottom" width=115> <b><font size="2">December 31,</font></b></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <b><font size="2">2004</font></b></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <b><font size="2">2003</font></b></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122> <b><font size="2">Assets:</font></b></td>
    <td width=343> <b><font size="2">Current Assets:</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Cash and cash equivalents</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">$164,659</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">$186,717</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Short-term investments</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">48,057</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">33,988</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Accounts receivable, net</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">59,288</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">53,976</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Inventories</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">78,905</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">75,333</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Other current assets</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">20,332</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">20,575</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total current assets</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">371,241</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">370,589</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Long-term investments</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">21,148</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">35,082</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Property and equipment - cost</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">128,422</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">112,023</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Less - Accumulated depreciation</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">71,913</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">66,799</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Property and equipment, net</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">56,509</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">45,224</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Other long-term assets, net</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">74,303</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">70,980</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total assets</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">$523,201</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">$521,875</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122> <b><font size="2">Liabilities and</font></b></td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122> <b><font size="2">Stockholders&#146;</font></b></td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122> <b><font size="2">Equity:</font></b></td>
    <td width=343> <b><font size="2">Current Liabilities:</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Accounts payable</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">$&nbsp;&nbsp;19,467</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">$&nbsp;&nbsp;19,160</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Accrued expenses</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">60,700</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">72,416</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Notes payable</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">715</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">494</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Deferred revenue</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">8,167</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">8,275</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total current liabilities</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">89,049</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">100,345</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total long-term liabilities</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">9,515</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">7,452</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Partner&#146;s interest in subsidiary</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">580</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">786</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343>&nbsp; </td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Stockholders&#146; Equity:</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75>&nbsp; </td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115>&nbsp; </td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Common stock</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">4,513</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">4,439</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Additional paid-in capital</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">407,626</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">383,249</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Deferred equity-based compensation</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">576</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">138</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Retained earnings</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">282,051</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">240,350</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Treasury stock, at cost</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">(277,206</font></td>
    <td width=14><font size="2">)</font></td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">(219,449</font></td>
    <td width=12><font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <font size="2">Accumulated other comprehensive income</font></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">6,497</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp;</td>
    <td align="right" valign="bottom" width=115> <font size="2">4,565</font></td>
    <td align="left" valign="bottom" width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total stockholders&#146; equity</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">424,057</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp; </td>
    <td align="right" valign="bottom" width=115> <font size="2">413,292</font></td>
    <td width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp; </td>
    <td width=343> <b><font size="2">Total liabilities and stockholders&#146; equity</font></b></td>
    <td width=1>&nbsp; </td>
    <td align="right" valign="bottom" width=75> <font size="2">$523,201</font></td>
    <td width=14>&nbsp; </td>
    <td width=18>&nbsp;</td>
    <td align="right" valign="bottom" width=115> <font size="2">$521,875</font></td>
    <td align="left" valign="bottom" width=12>&nbsp;</td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=122>&nbsp;</td>
    <td colspan="7">
      <hr size="1" noshade>
    </td>
  </tr>
</table>
<br>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom" align="left">
    <td colspan="6"> <font size="2"><b>IDEXX Laboratories, Inc. and Subsidiaries</b></font>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="6"> <font size="2"><b>Key Balance Sheet Statistics</b> <i>(Unaudited)</i></font>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121>&nbsp; </td>
    <td width=312>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=144>&nbsp; </td>
    <td width=119>&nbsp; </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121>&nbsp; </td>
    <td width=312>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144> <b><font size="2">June 30,</font></b></td>
    <td align="right" width=119> <b><font size="2">December 31,</font></b></td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121>&nbsp; </td>
    <td width=312>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144> <b><font size="2">2004</font></b></td>
    <td align="right" width=119> <b><font size="2">2003</font></b></td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121>&nbsp;</td>
    <td width=579 colspan="5">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121> <b><font size="2">Key</font></b></td>
    <td width=312>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144>&nbsp; </td>
    <td align="right" width=119>&nbsp; </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121> <b><font size="2">Balance Sheet</font></b></td>
    <td width=312>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144>&nbsp; </td>
    <td align="right" width=119>&nbsp; </td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121> <b><font size="2">Statistics:</font></b></td>
    <td width=312> <font size="2">Days sales outstanding</font></td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144> <font size="2">40</font></td>
    <td align="right" width=119> <font size="2">38</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td width=121>&nbsp; </td>
    <td width=312> <font size="2">Inventory turns</font></td>
    <td width=2>&nbsp; </td>
    <td width=2>&nbsp; </td>
    <td align="right" width=144> <font size="2">1.7</font></td>
    <td align="right" width=119> <font size="2">1.9</font></td>
  </tr>
</table>
<P ALIGN=LEFT>&nbsp;</P>

<!-- MARKER FORMAT-SHEET="Page Break Center" FSL="Workstation" -->
<P>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=10% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH=80% ALIGN=center>
<FONT SIZE="2">-
m o r e - </FONT></TD>
<TD WIDTH=10% ALIGN=right><FONT SIZE="1">&nbsp;</FONT>
</TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>
<!-- *************************************************************************** -->
<!-- MARKER PAGE="sheet: 7; page: 7" --> <!-- MARKER FORMAT-SHEET="Left Head 2 Bold Italic" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IDEXX Laboratories
  Announces Second Quarter Results<br>
  July 23, 2004<BR>
  Page 7 of 7 </FONT></P>
<table border=0 cellspacing=0 cellpadding=0 width="700">
  <tr valign="bottom" align="left">
    <td colspan="8"> <b><font size="2">IDEXX Laboratories, Inc. and Subsidiaries</font>
      </b></td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <b><font size="2">Consolidated Statement of Cash Flows</font>
      </b></td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <font size="2"><i>Amounts in thousands (Unaudited)</i></font>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td>&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" colspan="3"> <font size="2"><b>Six Months Ended</b></font></td>
    <td align="LEFT"></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">June 30, </font></b></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <b><font size="2">June 30, </font></b></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <b><font size="2">2003</font></b></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td> <b><font size="2">Operating:</font></b></td>
    <td>&nbsp;</td>
    <td> <font size="2"><b>Cash Flows from Operating Activities:</b></font></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="center">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net income</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;41,701 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;28,752 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Non-cash charges</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">17,043 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">18,790 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Changes in current assets and liabilities, net of</font></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">&nbsp;&nbsp;&nbsp;acquisitions and disposals</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(14,848</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">18,048 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net cash provided by operating activities</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;43,896 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;65,590 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td> <b><font size="2">Investing:</font></b></td>
    <td>&nbsp;</td>
    <td> <font size="2"><b>Cash Flows from Investing Activities:</b></font></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Decrease in investments, net</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(268</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(10,192</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Purchase of property and equipment, net</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(17,676</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(9,162</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Acquisition of businesses and intangible assets</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(5,392</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(50</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Acquisition of equipment leased to customers</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(1,230</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(1,004</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net cash used by investing activities</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;(24,566</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">$&nbsp;(20,408</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td> <b><font size="2">Financing:</font></b></td>
    <td>&nbsp;</td>
    <td> <b><font size="2">Cash Flows from Financing Activities:</font></b></td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Repayments of notes payable</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(304</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(509</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Purchase of treasury stock</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(58,070</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(23,505</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Proceeds from the exercise of stock options</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">16,910 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">15,118 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net cash used by financing activities</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;(41,464</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;&nbsp;(8,896</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net effect of exchange rate changes</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">76 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">1,360 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Net (decrease) increase in cash and cash equivalents</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(22,058</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">37,646 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Cash and cash equivalents, beginning of period</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">186,717 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">113,788 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Cash and cash equivalents, end of period</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$164,659 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">$151,434 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="center">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="center">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="center">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <b><font size="2">IDEXX Laboratories, Inc. and Subsidiaries</font></b>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td colspan="8"> <font size="2"><b>Free Cash Flow</b> <i>(Unaudited)</i></font>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="center">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" colspan="3"> <font size="2"><b>Six Months Ended</b></font></td>
    <TD ALIGN="LEFT"></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">June 30, </font></b></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <b><font size="2">June 30, </font></b></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right"> <b><font size="2">2004</font></b></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <b><font size="2">2003</font></b></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td></td>
    <td></td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td> <b><font size="2">Free Cash </font></b></td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td> <b><font size="2">Flow:</font></b></td>
    <td>&nbsp;</td>
    <td> <font size="2">Net cash provided by operating activities</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;43,896 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;65,590 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Purchase of property and equipment</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(17,676</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(9,162</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2">Acquisition of equipment leased to customers</font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">(1,230</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
    <td align="right"> <font size="2">(1,004</font></td>
    <TD ALIGN="LEFT"> <font size="2">)</font></td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td> <font size="2"><b>Free cash flow</b></font></td>
    <td>&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;24,990 </font></td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td align="right"> <font size="2">$&nbsp;&nbsp;55,424 </font></td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp;</td>
    <td>&nbsp;&nbsp;</td>
    <td colspan="6">
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td>&nbsp; </td>
    <td>&nbsp; </td>
    <td align="right">&nbsp; </td>
    <TD ALIGN="LEFT">&nbsp; </td>
    <td>&nbsp; </td>
    <TD ALIGN="LEFT"> </td>
  </tr>
  <tr valign="bottom" align="left">
    <td>&nbsp; </td>
    <td>&nbsp;</td>
    <td colspan="5"> <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>
    <TD ALIGN="LEFT"> </td>
  </tr>
</table>
<P ALIGN=LEFT>&nbsp;</P>



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end

</TEXT>
</DOCUMENT>
</SUBMISSION>
