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Charles River Announces Fourth-Quarter and Full-Year 2009 Results and Provides 2010 Guidance
– Fourth-Quarter Sales of $295.4 Million and Full-Year 2009 Sales of $1.2 Billion –
– Fourth-Quarter GAAP Earnings per Share of $0.27 and Non-GAAP Earnings per Share of $0.49 –
– Full-Year GAAP Earnings per Share of $1.74 and Non-GAAP Earnings per Share of $2.38 –
– 2010 Guidance of GAAP EPS Between $1.57-$1.77 and Non-GAAP EPS Between $2.20-$2.40 –
WILMINGTON, Mass.--(BUSINESS WIRE)--February 8, 2010--Charles River Laboratories International, Inc. (NYSE: CRL) today reported its results for the fourth-quarter and full-year 2009 and provided guidance for 2010. For the quarter, net sales decreased 5.2% to $295.4 million from $311.4 million in the fourth quarter of 2008. The decrease was net of a foreign currency translation benefit of 3.8%. Higher sales for the Research Models and Services (RMS) segment were offset by lower sales for the Preclinical Services (PCS) segment.
On a GAAP basis, net income for the fourth quarter of 2009 was $17.6 million, or $0.27 per diluted share, compared to a net loss of $663.2 million, or $9.93 per diluted share, for the fourth quarter of 2008. The prior-year results included a non-cash goodwill impairment of $700.0 million, or $10.43 per diluted share, in connection with management’s annual assessment of goodwill on its balance sheet.
On a non-GAAP basis, net income was $32.0 million for the fourth quarter of 2009, compared to $39.7 million for the same period in 2008, a decrease of 19.4%. Fourth-quarter diluted earnings per share on a non-GAAP basis were $0.49, a decrease of 16.9% compared to $0.59 per share in the fourth quarter of 2008. Both the GAAP and non-GAAP results in the fourth quarter of 2009 were impacted primarily by lower sales volume, offset in part by cost-savings actions implemented throughout the year.
The following information was filed by Charles River Laboratories International Inc (CRL) on Tuesday, February 9, 2010 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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