Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Charles River Laboratories Announces First-Quarter 2013 Results from Continuing Operations

Published: Thursday, May 02, 2013
Last Updated: Thursday, May 02, 2013
Bookmark and Share
First-quarter sales of $291.2 million.

Charles River Laboratories International, Inc. reported its results for the first quarter of 2013. For the quarter, net sales from continuing operations were $291.2 million, an increase of 1.8% from $286.0 million in the first quarter of 2012. Foreign currency translation reduced the reported sales by 1.0%. On a segment basis, sales increased in the Preclinical Services (PCS) segment, but declined slightly in the Research Models and Services (RMS) segment.

On a GAAP basis, net income from continuing operations for the first quarter of 2013 was $25.9 million, or $0.53 per diluted share, compared to $26.5 million, or $0.54 per diluted share, for the first quarter of 2012.

On a non-GAAP basis, net income from continuing operations was $33.2 million for the first quarter of 2013, a decline of 2.0% from $33.9 million for the same period in 2012. First-quarter diluted earnings per share on a non-GAAP basis were $0.69, a decrease of 1.4% compared to $0.70 per share in the first quarter of 2012. Lower operating income in the RMS segment was the primary driver of the decline.

James C. Foster, Chairman, President and Chief Executive Officer, said, “Our first-quarter operating results were affected by restrained spending on research models and associated services, primarily by large biopharmaceutical clients. We believe the slower than expected spending at the beginning of the year was principally due to these clients’ budget prioritization and the continued rationalization of their early-stage infrastructures and pipelines. As our clients further endeavor to enhance the efficiency of their research and development efforts, they are increasingly seeking more flexible outsourcing solutions for their essential, early-stage services. As the in vivo biology partner of choice, Charles River is uniquely positioned to benefit from this inflection point in biopharmaceutical outsourcing. We believe this outsourcing trend, coupled with our continued market share gains, was evident in the first-quarter performance of our Preclinical Services segment, which reported 6% constant-currency sales growth.”

Mr. Foster continued, “While demand for research models was slower than expected at the beginning of the year, we believe that trends will improve as we progress through 2013. As a result, we continue to expect to achieve our 2013 guidance of 4% to 6% constant-currency sales growth, and non-GAAP earnings per share in a range between $2.80 and $2.90.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Charles River Laboratories to Acquire Celsis International
Enhances Charles River Endotoxin and Microbial Detection’s position as the most comprehensive solution for rapid quality control testing.
Thursday, July 16, 2015
Charles River Acquires ChanTest
Addition broadens Charles Rivers' existing discovery-focused ion channel capabilities.
Friday, October 31, 2014
Charles River Laboratories Completes Acquisition of Galapagos’ CRO Services
Acquisition is expected to add approximately 6% to Company’s net sales in 2014.
Thursday, April 03, 2014
Charles River to Acquire Argenta and BioFocus from Galapagos
Capabilities of companies' more than 340 scientists will augment Charles River’s position.
Thursday, March 13, 2014
Charles River Laboratories Completes Acquisition of Majority Ownership of Vital River
Charles River Laboratories International, Inc. takes 75% ownership of Vital River, the premier commercial provider of research models and related services in China, and a licensee of Charles River for the last ten years.
Tuesday, January 08, 2013
Charles River Laboratories Enters Strategic Partnership with AstraZeneca
Global CRO partners with global biopharmaceutical company to accelerate drug development.
Friday, October 19, 2012
Charles River Announces Second-Quarter 2012 Results from Continuing Operations
Second-quarter sales of $284.7 million.
Thursday, August 09, 2012
Scientific News
Young South African Women can Adhere to Daily PrEP Regimen as HIV Prevention
NIH-funded study finds men in Bangkok, Harlem also successful in taking daily dose.
Researchers Find Key Player in Diabetic Kidney Disease Through Power of Metabolomics
Discovery could lead to new and better diagnostic marker for chronic kidney disease.
Immunotherapy Shows Promise for Myeloma
A strategy, which uses patients’ own immune cells, genetically engineered to target tumors, has shown significant success against multiple myeloma, a cancer of the plasma cells that is largely incurable.
Santhera Announces First Patient Dosing with Omigapil in CMD
Company announces full patient recruitment of CALLISTO study.
Study Shows Promise of Precision Medicine for Most Common Type of Lymphoma
The study appeared online July 20, 2015, in Nature Medicine.
HIV Control Through Treatment Durably Prevents Heterosexual Transmission of Virus
NIH-funded trial proves suppressive antiretroviral therapy for HIV-infected people effective in protecting uninfected partners.
Adaptimmune's Novel Cancer Therapeutics Show Positive Clinical Trial Results
The company has announced that positive data from its Phase I/II study of its affinity enhanced T-cell receptor (TCR) therapeutic targeting the NY-ESO-1 cancer antigen in patients with multiple myeloma has been published.
Early Antiretroviral Therapy Prevents Non-AIDS Outcomes in HIV-infected People
NIH-supported findings illustrate manifold benefit of therapy.
Adaptimmune’s NY-ESO-1 TCR-engineered T-Cells Demonstrate Durable Persistence
Study has been published in Nature Medicine.
First Made-in-Singapore Cancer Drug Enters Clinical Testing
The drug prevents cancer progression and paves the way for new advancements in cancer therapeutics.
Scroll Up
Scroll Down
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!