Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Charles River Laboratories International, a provider of drug discovery and development solutions, has reported a net income of $25.4 million, or $0.38 per diluted share, for the first quarter of 2009, compared to $44.1 million, or $0.63 per diluted share, for the first quarter of 2008.
Subscribe to our email newsletter
For the first quarter of 2009, net sales decreased 10.7% to $301.5 million from $337.7 million in the first quarter of 2008.
James Foster, chairman, president and CEO of Charles River Laboratories, said: “Our financial performance in the first quarter of 2009 was consistent with our expectations, which assumed softness in demand for both research models and services and preclinical services and a negative impact from foreign currency exchange.
“While visibility in the preclinical market remains limited, we are pleased to report that pricing, inquiry levels and bookings appear to have stabilized, although at lower levels than in the prior year. Based on these trends combined with our disciplined focus on expenses, we believe we will achieve the sales and earnings guidance that we previously provided for 2009.”