U.S. Markets open in 6 hrs 22 mins

Charles River: 4Q Earnings Snapshot

WILMINGTON, Mass. (AP) _ Charles River Laboratories International Inc. (CRL) on Wednesday reported fourth-quarter net income of $59.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Wilmington, Massachusetts-based company said it had profit of $1.21. Earnings, adjusted for one-time gains and costs, were $1.49 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The medical research equipment and services provider posted revenue of $601.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $590.1 million.

For the year, the company reported profit of $226.4 million, or $4.62 per share. Revenue was reported as $2.27 billion.

Charles River expects full-year earnings in the range of $6.25 to $6.40 per share.

Charles River shares have risen 14 percent since the beginning of the year. The stock has increased 27 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRL at https://www.zacks.com/ap/CRL