Charles River Laboratories International, Inc.

Charles River Laboratories announces first-quarter results, sells Phase II-IV clinical business

Published in Lab Business Week, June 11th, 2006

Charles River Laboratories Internationa, Inc. (CRL) reported first-quarter 2006 financial results and announced that it has entered into a definitive agreement with Kendle International Inc. (KNDL) to sell its Phase II-IV clinical services business, as it realigns its portfolio to focus on its core drug discovery and development strengths.

In conjunction with the planned portfolio realignment, the company recorded a goodwill impairment charge of $129.2 million, or $1.81 per share, for the Phase II-IV clinical business in the first quarter of 2006. As a result, the company reported a net loss per share of $1.40 for the first quarter of 2006, on sales of $283.8 million....

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Source: Lab Business Week (2006-06-11)

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