Charles River Laboratories International (CRL) FY2018 results: revenue $2.3 billion, up 22.0% on the year
Charles River Laboratories International, Inc. (CRL) reported revenue of $2.3 billion for fiscal 2018, the year ended 29 December 2018, up 22.0% on the year before. Net income was $226 million, up 83.5%, and diluted earnings per share $4.62. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$2.3 billion
+22.0% on the year
FY2011FY2018
Operating margin
14.6%
15.5% a year earlier
FY2011FY2018
Net income
$226 million
+83.5% on the year
FY2011FY2018
Diluted EPS
$4.62
+81.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,266
1,858
1,681
+22.0%
Cost of revenue
1,426
1,155
1,035
+23.4%
Gross profit
840
702
647
+19.6%
Gross margin
37.1%
37.8%
38.5%
Selling, general and administrative
444
371
365
+19.6%
Operating income
331
288
237
+15.0%
Operating margin
14.6%
15.5%
14.1%
Interest expense
63.8
29.8
27.7
+114.2%
Pre-tax income
282
297
223
-5.1%
Income tax
54.5
171
66.8
-68.2%
Effective tax rate
19.3%
57.7%
30.0%
Net income
226
123
155
+83.5%
Net margin
10.0%
6.6%
9.2%
Diluted EPS
$4.62
$2.54
$3.23
+81.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
441
318
317
+38.7%
Capital expenditure
140
82.4
55.3
+69.9%
Free cash flow
301
236
262
+27.8%
Free cash flow margin
13.3%
12.7%
15.6%
Cash from investing
-955
-72.6
-693
Cash from financing
558
-208
381
Depreciation and amortisation
162
131
127
+23.3%
Share-based compensation
47.3
44.0
43.6
+7.6%
Buybacks
13.8
107
12.3
-87.0%
Diluted shares, weighted
49m
49m
48m
+0.9%
Shares outstanding at period end
48m
47m
47m
+1.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,317
1,045
837
+26.1%
Non-controlling interest
2.4
2.3
2.4
+5.1%
Redeemable equity
18.5
16.6
14.7
+11.5%
Debt
1,668
1,145
1,235
+45.7%
Other liabilities
850
721
623
+17.9%
Total liabilities and equity
3,856
2,930
2,712
+31.6%
Fixed assets
933
782
756
+19.3%
Goodwill
1,247
805
788
+54.9%
Intangible assets
611
370
394
+65.2%
Investments
0.9
28.5
3.8
-96.9%
Cash and equivalents
195
164
118
+19.3%
Receivables
472
430
364
+9.8%
Inventory
128
115
95.8
+11.3%
Other assets
269
236
193
+13.8%
Total assets
3,856
2,930
2,712
+31.6%
10-K for the year ended 29 December 2018, filed 13 February 2019: the filing.