WILMINGTON, Mass. (AP) _ Charles River Laboratories International Inc. (CRL) on Tuesday reported first-quarter net income of $61.5 million.
On a per-share basis, the Wilmington, Massachusetts-based company said it had net income of $1.20. Earnings, adjusted for one-time gains and costs, came to $2.53 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The medical research equipment and services provider posted revenue of $824.6 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $796.7 million.
Charles River expects full-year earnings in the range of $9.75 to $10 per share.
Charles River shares have increased 33% since the beginning of the year. The stock has more than doubled in the last 12 months.