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Financial Report: Charles River Labs 1Q

Early Discovery acquisitions contribute to growth

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By: Kristin Brooks

Managing Editor, Contract Pharma

Charles River Laboratories

1Q Revenues: $320.4 million (+7%)

1Q Earnings: $31.6 million (-3%)

Comments: Research Models and Services (RMS) revenue was $120.0 million, down 9%, primarily due to the Genetically Engineered Models and Services (GEMS) business and lower sales of research models in Europe. Discovery and Safety Assessment (DSA) revenue was $140.0 million, driven primarily by the Early Discovery acquisitions, which contributed 23% to DSA revenue growth. Revenue for the Manufacturing segment was $60.4 million, down 2%. Foreign exchange reduced revenue growth by 8%. On a constant-currency basis, growth was 6%, with the Endotoxin and Microbial Detection (EMD) business up 10%. This was partially offset by a slow start to the year for the Biologics Testing Solutions business.

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