Charles River: 2Q Earnings Snapshot
WILMINGTON, Mass. (AP) _ Charles River Laboratories International Inc. (CRL) on Wednesday reported second-quarter net income of $43.7 million.
On a per-share basis, the Wilmington, Massachusetts-based company said it had net income of 88 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.63 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The medical research equipment and services provider posted revenue of $657.6 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $662.5 million.
Charles River expects full-year earnings in the range of $6.45 to $6.60 per share.
Charles River shares have climbed 25% since the beginning of the year. The stock has risen 17% in the last 12 months.