Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
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

Join For Free

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 3,000+ scientific posters on ePosters
  • More Than 4,500+ 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 WIL Research
Enhances Charles River’s position as a leading global early-stage CRO.
Thursday, January 14, 2016
Charles River to Acquire WIL Research
Enhances Charles River’s position as a leading global early-stage CRO.
Friday, January 08, 2016
CRL Expands Long-Standing Collaboration with MJFF
Advanced efforts to identify novel small molecule LRRK2 inhibitors.
Tuesday, December 15, 2015
Charles River Laboratories Acquires Oncotest GmbH
Expands oncology capabilities of Charles River discovery services.
Thursday, November 26, 2015
Charles River Announces New and Continued Drug Discovery Collaborations
Wellcome Trust-funded projects expand partnerships with Charles River’s Global Discovery Services business.
Friday, October 09, 2015
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
The Rise of 3D Cell Culture and in vitro Model Systems for Drug Discovery and Toxicology
An overview of the current technology and the challenges and benefits over 2D cell culture models plus some of the latest advances relating to human health research.
Scientists Find Evidence That Cancer Can Arise Changes
Researchers at Rockefeller University have found a mutation that affects the proteins that package DNA without changing the DNA itself can cause a rare form of cancer.
Developing a More Precise Seasonal Flu Vaccine
During the 2014-15 flu season, the poor match between the virus used to make the world’s vaccine stocks and the circulating seasonal virus yielded a vaccine that was less than 20 percent effective.
A Peachy Defense System for Seeds
ETH chemists are developing a new coating method to protect seeds from being eaten by insects. In doing so, they have drawn inspiration from the humble peach and a few of its peers.
Fighting Cancer with Borrowed Immunity
A new step in cancer immunotherapy: researchers from the Netherlands Cancer Institute and University of Oslo/Oslo University Hospital show that even if one's own immune cells cannot recognize and fight their tumors, someone else's immune cells might.
Modified Microalgae Converts Sunlight into Valuable Medicine
A special type of microalgae can soon produce valuable chemicals such as cancer treatment drugs and much more just by harnessing energy from the sun.
Breakthrough Approach to Breast Cancer Treatment
Scripps scientists have designed a drug candidate that decreases growth of breast cancer cells.
Loss Of Y Chromosome Increases Risk Of Alzheimer’s
Men with blood cells that do not carry the Y chromosome are at greater risk of being diagnosed with Alzheimer’s disease. This is in addition to an increased risk of death from other causes, including many cancers. These new findings by researchers at Uppsala University could lead to a simple test to identify those at risk of developing Alzheimer’s disease.
Making Virus Sensors Cheap and Simple
Researchers at The University of Texas at Austin demonstrated the ability to detect single viruses in a solution containing murine cytomegalovirus (MCMV).
A Guide to CRISPR Gene Activation
A comparison of synthetic gene-activating Cas9 proteins can help guide research and development of therapeutic approaches.
Scroll Up
Scroll Down
Skyscraper Banner

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
3,000+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,500+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!