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Financial Report: Charles River Laboratories

Safety Assessment and EMD businesses are primary drivers of growth in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Charles River Laboratories
 
2Q Revenues: $339.6 million (flat)

2Q Earnings: $49.2 million (+37%)

YTD Revenues: $660.0 million (+3%)

YTD Earnings: $80.9 million (+19%)

Comments: Research Models and Services (RMS) revenues were $120.0 million in the quarter, down 10%, impacted by foreign exchange. Higher sales of research models were offset by lower revenue for the Genetically Engineered Models and Services (GEMS) business. Discovery and Safety Assessment (DSA) revenues were $153.4 million, up 8%. This growth was offset in part by Argenta and BioFocus, which reported lower sales as a result of the early termination of a large contract for an integrated chemistry program. Manufacturing revenues were $66.2 million, up 1% driven by the Endotoxin and Microbial Detection (EMD) business, up 10% at constant-currency and the Avian Vaccine acquisition contributed 1.7% to the Manufacturing segment’s growth. The company plans to reopen its Shrewsbury, MA facility in early 2016.

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