Charles River Laboratories International, Inc. (CRL) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 28, 2019

Home SEC Filings Charles River Laboratories International Inc (CRL) 10-K Annual Report Tue Feb 11 2020
 
 Exhibit 99.1

Charles River Laboratories Announces Fourth-Quarter and Full-Year 2019 Results and Provides 2020 Guidance

– Fourth-Quarter Revenue of $691.1 Million and Full-Year Revenue of $2.62 Billion –

– Fourth-Quarter GAAP Earnings per Share of $1.61 and Non-GAAP Earnings per Share of $2.01 –

– Full-Year GAAP Earnings per Share of $5.07 and Non-GAAP Earnings per Share of $6.73 –

– Provides 2020 Guidance –

WILMINGTON, Mass.--(BUSINESS WIRE)--February 11, 2020--Charles River Laboratories International, Inc. (NYSE: CRL) today reported its results for the fourth-quarter and full-year 2019 and provided guidance for 2020. For the quarter, revenue was $691.1 million, an increase of 14.9% from $601.5 million in the fourth quarter of 2018.

The acquisition of Citoxlab contributed 8.1% to consolidated fourth-quarter revenue growth. The impact of foreign currency translation reduced reported revenue growth by 0.6%. Excluding the effect of these items, organic revenue growth of 7.4% was driven by all three business segments, particularly the Discovery and Safety Assessment segment.

On a GAAP basis, fourth-quarter net income from continuing operations attributable to common shareholders was $80.3 million, an increase of 34.7% from net income of $59.7 million for the same period in 2018. Fourth-quarter diluted earnings per share on a GAAP basis were $1.61, an increase of 33.1% from $1.21 for the fourth quarter of 2018. The increases in GAAP net income and earnings per share were primarily driven by the Company’s venture capital investments, which represented a gain of $0.22 per share in the fourth quarter of 2019, compared to a loss of $0.10 per share for the same period in 2018. As previously disclosed, the Company’s venture capital investment performance has been excluded from non-GAAP results.

On a non-GAAP basis, net income from continuing operations was $100.1 million for the fourth quarter of 2019, an increase of 27.8% from $78.3 million for the same period in 2018. Fourth-quarter diluted earnings per share on a non-GAAP basis were $2.01, an increase of 26.4% from $1.59 per share for the fourth quarter of 2018. The non-GAAP net income and earnings per share increases were driven primarily by higher revenue, including the contribution from the Citoxlab acquisition, and operating margin improvement.

The following information was filed by Charles River Laboratories International Inc (CRL) on Tuesday, February 11, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: CRL
CIK: 1100682
Form Type: 10-K Annual Report
Accession Number: 0001100682-20-000005
Submitted to the SEC: Tue Feb 11 2020 5:22:27 PM EST
Accepted by the SEC: Tue Feb 11 2020
Period: Saturday, December 28, 2019
Industry: Commercial Physical And Biological Research

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