Charles River Reaffirms 04 Revenue Growth of 21-24 Percent; 05 to Grow 48-52 Percent

NEW YORK, Dec. 15 (GenomeWeb News) - Charles River Laboratories today reaffirmed its previously announced guidance for the fourth-quarter and full-year 2004 and for 2005.

For the fourth quarter, at current exchange rates, the company said revenue will grow between 44 percent and 47 percent year over year. In addition, revenue for 2004 is expected to grow between 21 percent and 24 percent year over year.

Charles Riveralso said 2005 revenues ought to increase between 48 percent and 52 percent year over year. Excluding Inveresk, which the company acquired in October, organic growth is "expected to be" between 12 percent and 13 percent.

As GenomeWeb News reported earlier this month, Charles Riversaid it will close its proteomics joint venture with Proteome Systems after less than two years of operation because it "has not achieved its strategic goals."

The closure is part of a reorganization of Charles River's Worcester-based division and the integration of its preclinical services organization. Charles River Laboratories will close its proteomics joint venture with Proteome Systems, the company said yesterday.

"The actions we have taken to streamline our businesses and to implement targeted sales initiatives have enabled us to support our customers' needs effectively and efficiently," James Foster, chairman, president, and CEO, said in a statement today.