Charles River Laboratories International, Inc. Reports Earnings Results for the First Quarter Ended March 30, 2024
May 09, 2024 at 07:31 am EDT
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Charles River Laboratories International, Inc. reported earnings results for the first quarter ended March 30, 2024. For the first quarter, the company reported revenue was USD 1,011.56 million compared to USD 1,029.37 million a year ago. Net income was USD 67.33 million compared to USD 103.13 million a year ago.
Basic earnings per share from continuing operations was USD 1.31 compared to USD 2.02 a year ago. Diluted earnings per share from continuing operations was USD 1.3 compared to USD 2.01 a year ago.
Charles River Laboratories International, Inc. specializes in the development of products and services in the field of research and non-clinical drug development for pharmaceutical companies, government agencies and academic institutions. Net sales break down by activity as follows:
- discovery and safety assessment services (63.4%): discovery services for the identification, screening and selection of main compounds for the development of new drug candidates, and in vivo and in vitro testing, including pharmacokinetic, bioanalytical, metabolic, toxicological and pathological studies, for the safety assessment of pharmaceutical products, medical devices, animal health products, chemical and agrochemical products and biocides;
- development and sale of research models and related services (19.2%): mice, rats, immunodeficient models, rabbits, guinea pigs, hamsters, etc. The group also offers primary cells and specialized products (bioconservation products, freezing media for cell cultures, antigens, peptides, humanized mouse models, etc.) for the development and manufacture of new cell therapies ;
- development of solutions used in drug manufacturing processes (17.5%): products and services for microbiological testing, in vitro testing, endotoxin testing, microbial identification, development, manufacturing of avian vaccines, etc. The group also offers contract manufacturing services for cell and gene therapies.
Net sales break down by source of income between sales of services (83.3%) and sales of products (16.7%).
Net sales are distributed geographically as follows: the United States (56.8%), Europe (26%), Canada (11.8%), Asia/Pacific (4.9%) and other (0.4%).