Company: CRL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001100682-25-000011
Chunk: 112

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 112
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.6 %Manufacturing(71,453)88,329 (159,782)(180.9)%(0.9)%Unallocated corporate(258,121)(231,810)(26,311)11.4 %0.2 %Total operating income$227,347 $617,261 $(389,914)(63.2)%0.3 %Operating income % of revenue5.6 %14.9 %(930) bps

The following presents and discusses our consolidated financial results by each of our reportable segments:

RMS

Fiscal Year20242023$ change% changeImpact of FX(in thousands, except percentages)Revenue$829,377 $792,343 $37,034 4.7 %(0.2)%Cost of revenue (excluding amortization of intangible assets)580,491 509,970 70,521 13.8 %Selling, general and administrative110,982 105,965 5,017 4.7 %Amortization of intangible assets23,493 21,742 1,751 8.1 %Operating income$114,411 $154,666 $(40,255)(26.0)%(0.3)%Operating income % of revenue13.8 %19.5 %(570) bps

RMS revenue increased $37.0 million due primarily to an increase in large research model product revenue, principally due to the recent acquisition of Noveprim, which contributed $39.4 million, and an increase in small research model revenue in all geographic areas; partially offset by lower Cell Solutions product revenue and Insourcing Solutions services revenue.

RMS operating income decreased $40.3 million compared to fiscal year 2023. RMS operating income as a percentage of revenue for fiscal year 2024 was 13.8%, a decrease of 570 bps from 19.5% for fiscal year 2023. Operating income and operating income as a percentage of revenue decreased primarily due to higher charges related to recent restructuring activities, including severance, site consolidation, and asset impairment charges, higher amortization related to acquisitions, including an inventory step up recorded in cost of revenue from the Noveprim acquisition; partially offset by the impacts of the RMS revenue drivers described above.

DSA

Fiscal Year20242023$ change% changeImpact of FX(in thousands, except percentages)Revenue$2,451,280