Charles River Laboratories International (CRL) FY2016 results: revenue $1.7 billion, up 23.3% on the year
Charles River Laboratories International, Inc. (CRL) reported revenue of $1.7 billion for fiscal 2016, the year ended 31 December 2016, up 23.3% on the year before. Net income was $155 million, up 3.7%, and diluted earnings per share $3.23. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2017.
Revenue
$1.7 billion
+23.3% on the year
FY2009FY2016
Operating margin
14.1%
15.1% a year earlier
FY2009FY2016
Net income
$155 million
+3.7% on the year
FY2009FY2016
Diluted EPS
$3.23
+3.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,681
1,363
1,298
+23.3%
Cost of revenue
1,035
832
825
+24.3%
Gross profit
647
531
473
+21.8%
Gross margin
38.5%
39.0%
36.4%
Selling, general and administrative
365
300
269
+21.4%
Operating income
237
206
178
+15.0%
Operating margin
14.1%
15.1%
13.7%
Interest expense
27.7
15.1
11.9
+83.8%
Pre-tax income
223
195
178
+14.1%
Income tax
66.8
43.4
47.7
+54.0%
Effective tax rate
30.0%
22.2%
26.8%
Net income
155
149
127
+3.7%
Net margin
9.2%
11.0%
9.8%
Diluted EPS
$3.23
$3.13
$2.66
+3.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
317
n/a
251
Capital expenditure
55.3
63.3
56.9
-12.6%
Free cash flow
262
n/a
194
Free cash flow margin
15.6%
n/a
15.0%
Cash from investing
-693
n/a
n/a
Cash from financing
381
n/a
n/a
Depreciation and amortisation
127
94.9
96.4
+33.5%
Share-based compensation
43.6
40.1
31.0
+8.8%
Buybacks
12.3
117
122
-89.6%
Diluted shares, weighted
48m
48m
48m
+0.7%
Shares outstanding at period end
47m
47m
47m
+1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
837
733
672
+14.1%
Non-controlling interest
2.4
4.5
3.7
-47.5%
Redeemable equity
14.7
28.0
28.4
-47.7%
Debt
1,235
863
772
+43.1%
Other liabilities
623
440
394
+41.6%
Total liabilities and equity
2,712
2,068
1,871
+31.1%
Fixed assets
756
678
677
+11.5%
Goodwill
788
439
321
+79.5%
Intangible assets
394
281
179
+40.5%
Investments
3.8
53.2
27.0
-92.9%
Cash and equivalents
118
118
160
-0.3%
Receivables
364
270
258
+34.8%
Inventory
95.8
93.7
89.0
+2.2%
Other assets
193
136
160
+41.8%
Total assets
2,712
2,068
1,871
+31.1%
10-K for the year ended 31 December 2016, filed 14 February 2017: the filing.