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Charles River Laboratories Announces Fourth-Quarter and Full-Year 2016 Results from Continuing Operations and Provides 2017 Guidance
– Fourth-Quarter Revenue of $466.8 Million and Full-Year 2016 Revenue of $1.68 Billion –
– Fourth-Quarter GAAP Earnings per Share of $0.93 and Non-GAAP Earnings per Share of $1.21 –
– Full-Year GAAP Earnings per Share of $3.22 and Non-GAAP Earnings per Share of $4.56 –
– Provides 2017 Guidance –
– Divests Contract Development and Manufacturing Business for $75 Million –
WILMINGTON, Mass.--(BUSINESS WIRE)--February 14, 2017--Charles River Laboratories International, Inc. (NYSE: CRL) today reported its results for the fourth-quarter and full-year 2016 and provided guidance for 2017. For the quarter, revenue from continuing operations was $466.8 million, an increase of 31.9% from $353.9 million in the fourth quarter of 2015. Revenue growth was driven primarily by the Discovery and Safety Assessment and Manufacturing Support segments. Research Models and Services revenue also increased.
The acquisitions of WIL Research, Agilux Laboratories, Blue Stream Laboratories, and Oncotest contributed 20.9% to consolidated fourth-quarter revenue growth, both on a reported basis and in constant currency. The addition of a 53rd week at the end of 2016, which is periodically required to align to a December 31st calendar year end, contributed approximately 5.1% to reported fourth-quarter revenue growth. The impact of foreign currency translation reduced reported revenue growth by 2.4%. Excluding the effect of these items, organic revenue growth was 8.3%.
On a GAAP basis, net income from continuing operations attributable to common shareholders was $44.7 million for the fourth quarter of 2016, an increase of 36.4% from $32.8 million for the same period in 2015. Fourth-quarter diluted earnings per share on a GAAP basis were $0.93, an increase of 34.8% from $0.69 for the fourth quarter of 2015.
The following information was filed by Charles River Laboratories International Inc (CRL) on Tuesday, February 14, 2017 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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