AI English summary of an SEC filing — figures as filed
Charles River Laboratories CRLThe company said its revenue for fiscal 2023 was $4.1 billion, up $153.3 million (3.9%) from $4.0 billion in fiscal 2022. Operating income was $617.3 million, with an operating margin of 14.9%, lower than $651.0 million (16.4%) in fiscal 2022.
Key points
AI summaryThe company said its revenue for fiscal 2023 was $4.1 billion, up $153.3 million (3.9%) from $4.0 billion in fiscal 2022. Operating income was $617.3 million, with an operating margin of 14.9%, lower than $651.0 million (16.4%) in fiscal 2022.
The company said it acquired an additional 41% equity interest in Noveprim Group on November 30, 2023, giving it a 90% controlling interest. The total preliminary purchase price is $374.8 million, including $144.6 million in additional cash paid, and the remeasurement gain on its previously held 49% stake is $103.2 million.
The company said restructuring costs for fiscal 2023 were about $30 million, including asset impairment and accelerated depreciation of $18 million and retirement-related costs of $12 million. It expects annual cost savings of about $60 million to $70 million. DSA backlog was $2.45 billion as of December 30, 2023, down from $3.15 billion as of December 31, 2022.
The company said net cash provided by operating activities in fiscal 2023 was $683.9 million, up from $619.6 million in fiscal 2022. It cited the amount and timing of compensation payments and inventory purchases as the factors behind the increase.
Key figures
Fiscal year ended December 30, 2023
- Revenue
- $4.1B
- Operating income
- $617M
- Net income
- $475M
- EPS
- $9.22
- Operating cash flow
- $684M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Annual Revenue $4.1 billion, Operating Income $617.3 million
The company said its revenue for fiscal 2023 was $4.1 billion, up $153.3 million (3.9%) from $4.0 billion in fiscal 2022. Operating income was $617.3 million, with an operating margin of 14.9%, lower than $651.0 million (16.4%) in fiscal 2022.
Source · Based on the MD&A text of the filing
Noveprim additional 41% equity stake acquisition
The company said it acquired an additional 41% equity interest in Noveprim Group on November 30, 2023, giving it a 90% controlling interest. The total preliminary purchase price is $374.8 million, including $144.6 million in additional cash paid, and the remeasurement gain on its previously held 49% stake is $103.2 million.
Source · Based on the MD&A text of the filing
Restructuring Costs and DSA Backlog Changes
The company said restructuring costs for fiscal 2023 were about $30 million, including asset impairment and accelerated depreciation of $18 million and retirement-related costs of $12 million. It expects annual cost savings of about $60 million to $70 million. DSA backlog was $2.45 billion as of December 30, 2023, down from $3.15 billion as of December 31, 2022.
Source · Based on the MD&A text of the filing
Operating Cash Flow $683.9 million
The company said net cash provided by operating activities in fiscal 2023 was $683.9 million, up from $619.6 million in fiscal 2022. It cited the amount and timing of compensation payments and inventory purchases as the factors behind the increase.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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