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Acquisitions, Demand Fuel Charles River Lab's Growth in Q2

07:09 EDT 9 Aug 2017 | Genetic Engineering News

Charles River Laboratories reported a 53.5% jump in net income from continuing operations during the second quarter, reflecting several recent acquisitions and demand growth, as well as changes in currency exchange rates that prompted the company to raise its revenue growth guidance for this year. Charles River finished the second quarter with net income from continuing operations attributable to common shareholders of $54 million, up from $35.2 million for Q2 2016, on a generally accepted accounting principles (GAAP) basis. The company generated $469.1 million in revenue from continuing operations, up 8.1% from $434.1 million a year earlier. Charles River has raised its revenue guidance for 2017, increasing the projected range of revenue increase this year from between 7.5% to 9% to between 8.5% and 10%. Second-quarter diluted earnings per share (EPS) were $1.12, up 53.4% from $0.73 in the year-ago quarter, on a GAAP basis. The ...

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