Charles River Laboratories International, Inc. (CRL) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 26, 2020

Home SEC Filings Charles River Laboratories International Inc (CRL) 10-K Annual Report Wed Feb 17 2021
Exhibit 99.1

Charles River Laboratories Announces Fourth-Quarter and Full-Year 2020 Results and Provides 2021 Guidance

– Fourth-Quarter Revenue of $791.0 Million and Full-Year Revenue of $2.92 Billion –

– Fourth-Quarter GAAP Earnings per Share of $2.81 and Non-GAAP Earnings per Share of $2.39 –

– Full-Year GAAP Earnings per Share of $7.20 and Non-GAAP Earnings per Share of $8.13 –

– Provides 2021 Guidance –

– Announces Definitive Agreement to Acquire Cognate BioServices, A Premier, Cell and Gene Therapy CDMO –

WILMINGTON, Mass.--(BUSINESS WIRE)--February 17, 2021--Charles River Laboratories International, Inc. (NYSE: CRL) today reported its results for the fourth-quarter and full-year 2020 and provided guidance for 2021. For the quarter, revenue was $791.0 million, an increase of 14.4% from $691.1 million in the fourth quarter of 2019.

Acquisitions contributed 2.1% to consolidated fourth-quarter revenue growth. The impact of foreign currency translation benefited reported revenue growth by 2.0%. Excluding the effect of these items, organic revenue growth of 10.3% was driven by contributions from all three business segments.

On a GAAP basis, fourth-quarter net income attributable to common shareholders was $143.2 million, an increase of 78.2% from net income of $80.3 million for the same period in 2019. Fourth-quarter diluted earnings per share on a GAAP basis were $2.81, an increase of 74.5% from $1.61 for the fourth quarter of 2019. The increases in GAAP net income and earnings per share were driven primarily by higher revenue, operating income, and venture capital investment gains. GAAP earnings per share included a gain from the Company’s venture capital and other strategic investments of $1.01 per share in the fourth quarter of 2020, compared to $0.22 per share for the same period in 2019. The Company’s venture capital and other strategic investment performance has been excluded from non-GAAP results.

The following information was filed by Charles River Laboratories International Inc (CRL) on Wednesday, February 17, 2021 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: 0001100682-21-000005
Submitted to the SEC: Wed Feb 17 2021 4:28:20 PM EST
Accepted by the SEC: Wed Feb 17 2021
Period: Saturday, December 26, 2020
Industry: Commercial Physical And Biological Research

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