Charles River Laboratories International Earnings: Here’s Why the Stock is Rising Now
Charles River Laboratories International, Inc. (NYSE:CRL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.74%.
Charles River Laboratories International, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.67% to $0.73 in the quarter versus EPS of $0.75 in the year-earlier quarter.
Revenue: Rose 3.4% to $294.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Charles River Laboratories International, Inc. reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.71. It beat the average revenue estimate of $294.19 million.
Quoting Management: James C. Foster, Chairman, President and Chief Executive Officer, said, “We were pleased with our second-quarter results. We implemented actions to position the Company as the partner of choice for early-stage drug discovery and development, initiated targeted sales efforts which have enabled us to gain market share, and expanded our portfolio through strategic acquisitions. The benefit of these actions is clear in our second quarter results, and will drive revenue and earnings per share growth in 2013 and beyond.”
Key Stats (on next page)…