AI English summary of an SEC filing — figures as filed
Charles River Laboratories CRLCharles River said revenue for the 3-month period ended June 29, 2024 fell to $1,026.1 million from $1,059.9 million a year earlier, a 3.2% decline, and operating income was $151.7 million, or an operating margin of 14.8%. The company cited lower volume in its DSA business as the main reason for the revenue decline.
Key points
AI summaryCharles River said revenue for the 3-month period ended June 29, 2024 fell to $1,026.1 million from $1,059.9 million a year earlier, a 3.2% decline, and operating income was $151.7 million, or an operating margin of 14.8%. The company cited lower volume in its DSA business as the main reason for the revenue decline.
The company said DSA backlog fell to $2.2 billion as of June 29, 2024 from $2.5 billion as of December 30, 2023. It also said restructuring costs were $18.0 million for 3 months and $35.0 million for 6 months.
The company said net cash provided by operating activities rose to $323.4 million for the 6-month period ended June 29, 2024, from $257.5 million in the same period a year earlier. The company cited improvements in revenue-related accounts, lower inventory purchases, and the timing of vendor and supplier payments as factors.
The company said it is cooperating with the U.S. Department of Justice (DOJ) and the U.S. Fish and Wildlife Service investigation into its shipments of Cambodian non-human primates. It said it has voluntarily suspended future shipments of Cambodian non-human primates, and that the carrying value of the related inventory was approximately $27 million as of June 29, 2024.
Key figures
Quarter ended June 29, 2024
- Revenue
- $1.0B
- Operating income
- $152M
- Net income
- $94M
- EPS
- $1.74
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Revenue and operating income fall in quarter
Charles River said revenue for the 3-month period ended June 29, 2024 fell to $1,026.1 million from $1,059.9 million a year earlier, a 3.2% decline, and operating income was $151.7 million, or an operating margin of 14.8%. The company cited lower volume in its DSA business as the main reason for the revenue decline.
Source · Based on the MD&A text of the filing
DSA backlog falls and restructuring
The company said DSA backlog fell to $2.2 billion as of June 29, 2024 from $2.5 billion as of December 30, 2023. It also said restructuring costs were $18.0 million for 3 months and $35.0 million for 6 months.
Source · Based on the MD&A text of the filing
Operating cash flow rises over 6 months
The company said net cash provided by operating activities rose to $323.4 million for the 6-month period ended June 29, 2024, from $257.5 million in the same period a year earlier. The company cited improvements in revenue-related accounts, lower inventory purchases, and the timing of vendor and supplier payments as factors.
Source · Based on the MD&A text of the filing
Cambodia non-human primate investigation
The company said it is cooperating with the U.S. Department of Justice (DOJ) and the U.S. Fish and Wildlife Service investigation into its shipments of Cambodian non-human primates. It said it has voluntarily suspended future shipments of Cambodian non-human primates, and that the carrying value of the related inventory was approximately $27 million as of June 29, 2024.
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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