Charles River Laboratories International (CRL) FY2013 results: revenue $1.2 billion, up 3.2% on the year
Charles River Laboratories International, Inc. (CRL) reported revenue of $1.2 billion for fiscal 2013, the year ended 28 December 2013, up 3.2% on the year before. Net income was $103 million, up 5.7%, and diluted earnings per share $2.12. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$1.2 billion
+3.2% on the year
FY2008FY2013
Operating margin
13.0%
14.7% a year earlier
FY2008FY2013
Net income
$103 million
+5.7% on the year
FY2008FY2013
Diluted EPS
$2.12
+5.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,166
1,130
1,143
+3.2%
Cost of revenue
771
737
740
+4.5%
Gross profit
395
392
402
+0.7%
Gross margin
33.9%
34.7%
35.2%
Selling, general and administrative
226
208
199
+8.4%
Operating income
151
166
174
-8.7%
Operating margin
13.0%
14.7%
15.3%
Interest expense
21.0
33.3
42.6
-37.1%
Pre-tax income
138
130
133
+6.6%
Income tax
32.9
27.6
17.1
+19.1%
Effective tax rate
23.8%
21.3%
12.9%
Net income
103
97.3
110
+5.7%
Net margin
8.8%
8.6%
9.6%
Diluted EPS
$2.12
$2.01
$2.14
+5.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
207
n/a
205
Capital expenditure
39.2
47.5
49.1
-17.6%
Free cash flow
168
n/a
156
Free cash flow margin
14.4%
n/a
13.7%
Depreciation and amortisation
96.6
81.3
85.2
+18.9%
Share-based compensation
24.5
21.9
21.7
+12.3%
Buybacks
166
64.2
284
+158.5%
Diluted shares, weighted
48m
48m
51m
+0.2%
Shares outstanding at period end
48m
49m
49m
-2.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
641
601
526
+6.7%
Non-controlling interest
3.1
2.4
1.8
+29.1%
Redeemable equity
20.6
0.0
n/a
Debt
663
666
718
-0.5%
Other liabilities
305
317
313
-3.7%
Total liabilities and equity
1,633
1,586
1,558
+2.9%
Fixed assets
676
717
738
-5.7%
Goodwill
231
209
198
+10.6%
Intangible assets
84.5
84.9
93.4
-0.5%
Investments
29.1
6.8
16.4
+328.7%
Cash and equivalents
156
110
68.9
+42.2%
Receivables
221
203
185
+8.7%
Inventory
89.4
88.5
93.0
+1.0%
Other assets
146
168
166
-12.8%
Total assets
1,633
1,586
1,558
+2.9%
10-K for the year ended 28 December 2013, filed 17 February 2015: the filing.