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Key insights and themes extracted from this filing
Total revenue increased by 6.5% year-over-year, with CAG contributing the majority of the growth. The company's focus on diagnostic and information management-based products for companion animals continues to yield positive results.
Gross profit margin increased to 61.0% from 59.8% in the prior year, reflecting a favorable business mix, price realization, and lower instrument costs. This indicates improved profitability on sales.
Total operating expenses increased by 14.4%, driven by higher general and administrative expenses, including a significant litigation expense. This increase outpaced revenue growth, leading to a lower increase in income from operations.