Charles River provides financial guidance for 2012
Charles River Laboratories International has provided guidance for 2012 and updated guidance for 2011. James C. Foster, Chairman, president and chief executive officer, said, “We made significant progress in 2011 on our four key initiatives, which include operating margin expansion, improved free cash flow, disciplined investment in existing growth businesses, and returning value to shareholders. In 2012, we will maintain our focus on these initiatives and on stimulating sales growth.”
“Our large biopharmaceutical clients are fundamentally rethinking their research processes; eliminating non-viable molecules earlier and focusing only on the most promising molecules. To further improve the efficiency and cost effectiveness of their research, they are increasingly choosing to outsource, particularly in the area of discovery services. Because of our expertise in in vivo biology, this is a significant opportunity for us, one on which we intend to capitalize," Foster added.
“We believe market conditions have stabilized, and visibility is improving. As a result, we view 2012 as a more stable year in which sales growth begins to strengthen in a range of 1% to 3% on a constant currency basis, and non-GAAP earnings per share increase between 7% and 11%, or in a range of $2.60 to $2.70," said Foster.