Charles River: 2Q Earnings Snapshot
WILMINGTON, Mass. (AP) _ Charles River Laboratories International Inc. (CRL) on Wednesday reported second-quarter profit of $53.7 million.
On a per-share basis, the Wilmington, Massachusetts-based company said it had profit of $1.10. Earnings, adjusted for one-time gains and costs, came to $1.62 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The medical research equipment and services provider posted revenue of $585.3 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $569.5 million.
Charles River expects full-year earnings in the range of $5.85 to $6 per share.
Charles River shares have risen 17 percent since the beginning of the year. The stock has climbed 29 percent in the last 12 months.