Charles River Laboratories International (CRL) FY2017 results: revenue $1.9 billion, up 10.5% on the year
Charles River Laboratories International, Inc. (CRL) reported revenue of $1.9 billion for fiscal 2017, the year ended 30 December 2017, up 10.5% on the year before. Net income was $123 million, down 20.3%, and diluted earnings per share $2.54. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$1.9 billion
+10.5% on the year
FY2010FY2017
Operating margin
15.5%
14.1% a year earlier
FY2010FY2017
Net income
$123 million
-20.3% on the year
FY2010FY2017
Diluted EPS
$2.54
-21.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,858
1,681
1,363
+10.5%
Cost of revenue
1,155
1,035
832
+11.6%
Gross profit
702
647
531
+8.6%
Gross margin
37.8%
38.5%
39.0%
Selling, general and administrative
371
365
300
+1.8%
Operating income
288
237
206
+21.4%
Operating margin
15.5%
14.1%
15.1%
Interest expense
29.8
27.7
15.1
+7.5%
Pre-tax income
297
223
195
+33.2%
Income tax
171
66.8
43.4
+156.4%
Effective tax rate
57.7%
30.0%
22.2%
Net income
123
155
149
-20.3%
Net margin
6.6%
9.2%
11.0%
Diluted EPS
$2.54
$3.23
$3.13
-21.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
318
317
n/a
+0.4%
Capital expenditure
82.4
55.3
63.3
+49.1%
Free cash flow
236
262
n/a
-9.9%
Free cash flow margin
12.7%
15.6%
n/a
Cash from investing
-72.6
-693
n/a
Cash from financing
-208
381
n/a
Depreciation and amortisation
131
127
94.9
+3.6%
Share-based compensation
44.0
43.6
40.1
+0.8%
Buybacks
107
12.3
117
+771.5%
Diluted shares, weighted
49m
48m
48m
+1.3%
Shares outstanding at period end
47m
47m
47m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,045
837
733
+24.9%
Non-controlling interest
2.3
2.4
4.5
-1.3%
Redeemable equity
16.6
14.7
28.0
+13.3%
Debt
1,145
1,235
863
-7.3%
Other liabilities
721
623
440
+15.7%
Total liabilities and equity
2,930
2,712
2,068
+8.0%
Fixed assets
782
756
678
+3.5%
Goodwill
805
788
439
+2.2%
Intangible assets
370
394
281
-6.3%
Investments
28.5
3.8
53.2
+655.5%
Cash and equivalents
164
118
118
+39.2%
Receivables
430
364
270
+18.1%
Inventory
115
95.8
93.7
+20.0%
Other assets
236
193
136
+22.5%
Total assets
2,930
2,712
2,068
+8.0%
10-K for the year ended 30 December 2017, filed 13 February 2018: the filing.