Issue link: https://nebusinessmedia.uberflip.com/i/827955
W W W. M A I N E B I Z . B I Z 11 M AY 2 9 , 2 0 1 7 M E M B E R F D I C Watch F ive Maine Businesses Compete f or $50,000 LIVE LAUNCHPAD EVENT TUESDAY, JUNE 6 TH Reserve your FREE seat now to be there for the live finale of Maine's premier small business competition— where five Maine businesses will compete live for $50,000. Seating is limited. Competition begins at 5:00pm. Reserve your seat at GorhamSavingsBank.com/LaunchPad. Maine public companies off to strong start in Q1 B y L o r i V a l i g r a A sampling of the fi nancial performance of selected Maine public companies shows they're continuing strong performance in the fi rst quarter. IDEXX: Results worth wagging tails IDEXX Laboratories Inc. (NASDAQGS: IDXX), the Westbrook-based provider of diagnostic tests for pets, poultry and livestock, saw revenue rise 11% over the fi rst quarter of 2016 to $462 million for the quarter ended March 31. Earnings per share were up 51% to $0.77. On March 20 the company joined the NASDAQ-100 Index (Nasdaq: NDX), the NASDAQ-100 Equal Weighted Index (Nasdaq: NDXE), and the NASDAQ-100 Ex Technology Index (Nasdaq: NDXX). Companion Animal Group sales helped drive the fi rst quarter's revenue growth, with various parts of the group seeing 13% to 16% revenue growth. The company raised its guidance for this full year by 7.5% to 11%, or about $15 million to $1.925 mil- lion to $1.950 million. WEX: Truckin' along WEX Inc. (NYSE: WEX), a South Portland-based pro- vider of corporate payment solutions, saw revenue for the fi rst quarter ended March 31 rise 41% to $291.4 million over the same quarter last year. Earnings per share were up 26% to $1.23. During the quarter, higher fuel prices positively impacted revenue by $15.4 million compared to the prior year period. WEX said the impact of foreign cur- rency translation was not material. Moo-ving through the fi eld Portland-based bovine health company ImmuCell Corp. (NasdaqCM: ICCC) hit record sales of $3.5 million in the fi rst quarter, up 19% over the prior year's quarter. Net income of 12 cents per share was up 9% over last year. Bank assets, revenues add up Camden National Corp. (NasdaqGS: CAC), the larg- est Maine-chartered bank, reported revenue of $41 million, down 5%, but earnings per share rose 14% to 64 cents. Commercial loan volume rose 4% for the quarter to $45.7 million, and residential mortgage originations increased $17.1 million, or 2%. Northeast Bancorp of Lewiston (NASDAQGM: NBN) reported net income of $3.5 million, up 94% from a year ago. Earnings per share were up 105% to 39 cents per share. The First Bancorp Inc. (NASDAQGS: FNLC) had total assets of $11.89 million in the fi rst quarter, down 6.4%, but 43 cents in earnings per share, up 2.4%. And Bar Harbor Bankshares Inc. (NYSE: BHB) had $17.49 million in revenue, up 19.3%, and earnings per share of 29 cents, down almost 41% from the fourth quarter of 2016. B I Z M O N E Y Company Market Cap Q1 2017 revenue (or assets) Q1 revenue vs. prior year's Q1 1 Q1 earnings per share Q1 net income vs. prior year's Q1 IDEXX Laboratories Inc. $14.4 billion $462 million up 11% $0.77 up 51% WEX Inc. $4.28 billion $291.4 million up 41% $1.23 up 26% Camden National Corp. $675.61 million $41 million down 5% $0.64 up 14% Bar Harbor Bankshares Inc. $452.83 million $17.49 million up 19.3% 0.29 (GAAP) down 40.8% from Q4 2016 The First Bancorp Inc. $284.41 million $11.89 million (total assets GAAP) down 6.4% $0.43 up 2.4% Northeast Bancorp 2 $160 million $1 billion (Q3 assets as of March 31, 2017) up 4.2% (from June 30, 2016) $0.39 up 105% from $0.19 in Q3 2016 ImmuCell Corp. $29.14 million $3.54M up 19% $0.12 up 9.1% 1 Except where noted 2 Third quarter of 2017 S O U R C E : Companies, YahooFinance, Form 10-Ks A ROUNDUP OF RECENT MAINE PUBLIC COMPANY EARNINGS