|View printer-friendly version|
WILMINGTON, Mass.; November 27, 2000: The fourth quarter sales and earnings outlook for Charles River Laboratories International, Inc. (NYSE: CRL) is expected to exceed the current analysts’ estimates.
The Company estimates fourth quarter 2000 sales to be $72 million to $74 million versus the analysts’ average estimate of $71 million, and earnings per diluted share of $.09 to $.10 versus the $.07 consensus estimate reported by First Call. Full year sales are expected to be in the range of $288 million to $290 million, while earnings per diluted share are expected to be in the range of $.54 to $.55. The above estimates are based on current exchange rates.
According to James C. Foster, CEO, “We continue to see strong sales results in all of our product lines and service offerings. Demand in the U.S. has been particularly strong for research models as well as discovery and development services. Sales growth has been fueled by continued outsourcing by pharmaceutical and biotech companies. Operating margins continue to be strong due to sales growth and operating efficiencies.”
Charles River Laboratories, based in Wilmington, Massachusetts, is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. The Company is the global leader in providing animal research models required in research and development for new drugs, devices and therapies. The Company also offers a broad and growing portfolio of biomedical products and services that enable customers to reduce cost, increase speed, and enhance productivity and effectiveness in drug discovery and development. Charles River’s customer base spans over 50 countries, and includes all of the major pharmaceutical and biotechnology companies, as well as many leading hospitals and academic institutions. The Company operates 53 facilities in 15 countries worldwide.
This document may contain “forward looking statements.” Such statements involve a number of risks and uncertainties that could cause actual results to differ materially from those stated or implied by the forward looking statements, including contaminations, industry trends, new displacement technologies, outsourcing trends, FDA regulation, changes in law, acquisition integration risks, special interests groups, continued availability of products and supplies, personnel and control, and others that are described in the Risk Factors contained in Company’s Registration Statement of Form S-1, as filed on June 23, 2000, and as may be updated from time to time in the Company’s periodic SEC filings. The Company disclaims an intent or obligation to update forward looking statements, and otherwise claims the “safe harbor” protections for forward looking statements afforded under The Private Securities Litigation Reform Act of 1995.
|CONTACT:||Charles River Laboratories International, Inc.|
|978/658-6000 Ext. 1329|