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Financial Report: Charles River Laboratories

Revenues up 3% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Charles River Laboratories
 
2Q Revenues: $292.9 million (+3%)

2Q Earnings: $27.7 million (-9%)

YTD Revenues: $584.2 million (+2%)

YTD Earnings: $53.5 million (-6%)

Comments: Research Models and Services (RMS) revenues were $179.0 million in the quarter, up 3% driven primarily by the acquisitions of Vital River and Accugenix, as well as growth in the legacy Endotoxin and Microbial Detection (EMD) business. Preclinical Services (PCS) sales were $114.0 million, up 3% driven by increased sales to both large biopharmaceutical and mid-tier clients, primarily as a result of market share gains. Lower operating income was the primary driver of the decline in earnings.

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