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Financial Report: Charles River 3Q11

RMS segment sales up 8%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Charles River 3Q11

3Q Revenues: $277.6 million (+3%)

3Q Earnings: $18.9 million (loss of $25.0 million 3Q10)

YTD Revenues: $851.7 million (flat)

YTD Earnings: $82.7 million (earnings were $5.9 million YTD10)

Comments: Foreign currency exchange favorably impacted sales by 4%. Sales in the Research Models and Services (RMS) segment were $171.5 million in the quarter, (+8%), driven by higher sales of Other Products, which includes the In Vitro and Avian businesses, as well as RMS. Preclinical Services (PCS) segment sales were down 5% to $106.1 million. Sales to large biopharmaceutical clients were stable, but sales to small and mid-tier biopharmaceutical companies declined. 2010 results include the impact of a $30.0 million fee related to the termination of a proposed acquisition.

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