This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Charles River Laboratories Provides 2013 Financial Guidance

Charles River Laboratories International, Inc. (NYSE: CRL) today provided guidance for 2013 and reaffirmed guidance for 2012.

James C. Foster, Chairman, President and Chief Executive Officer, said, “The actions we have taken in the last three years to enhance our in vivo biology portfolio, improve our operating efficiency, and forge stronger relationships with our clients have positioned us exceptionally well to be the partner of choice for early-stage drug discovery and development products and services. We believe these are the reasons that we were awarded two large, strategic partnerships in the last year, and that we will prevail in the majority of the ongoing discussions concerning additional opportunities. These partnerships, combined with market share gains we have made in our mid-tier biopharmaceutical and academic client bases, are the foundation of improved performance in 2013 and beyond.”

“As a result, we are confident that sales growth will accelerate in 2013, to a range of 3% to 5% on a constant currency basis, and that non-GAAP earnings per share will increase at a slightly higher rate, to a range of $2.80 to $2.90.”

2013 Guidance

Sales and earnings per share guidance for 2013 excludes the impact of acquisitions until the transaction has been completed. The Company continues to expect that the acquisition of Vital River will be completed in the first quarter of 2013.

2013 SALES GUIDANCE (from continuing operations)
Net sales growth, reported         2.5% – 4.5%
Impact of foreign exchange         Approx. 0.5%
Net sales growth, constant currency         3.0% - 5.0%
 

A reconciliation of GAAP to non-GAAP earnings per share is as follows:

2013 EPS GUIDANCE (from continuing operations)        
GAAP EPS estimate       $2.45 - $2.55
Amortization of intangible assets $0.21
Operating losses (1) $0.04
Convertible debt accounting       $0.10
Non-GAAP EPS estimate       $2.80 - $2.90

(1) These costs relate primarily to the Company’s PCS facility in Massachusetts.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,066.91 -165.11 -0.91%
S&P 500 2,108.76 -17.30 -0.81%
NASDAQ 5,037.0180 -52.3440 -1.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs