Company: CRL
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001104659-25-030908
Chunk: 44

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 44
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 remain committed to ensuring our cost structure is right-sized to the demand environment. • Significant progress to better secure our supply chain and successfully mitigating NHP supply challenges, through enhanced safeguards, better use of our international and supplier diversification efforts, including the acquisition of a 90% controlling interest in fiscal 2023 of Noveprim Group, an NHP supplier based in Mauritius. • Driving operational excellence in order to expedite our decision-making processes by more closely aligning critical support functions with the operations they support, and also leverage our streamlining efforts to reduce our clients’ research and development timelines to help accelerate their speed to market. • Under a new, $1 billion stock repurchase authorization that our Board approved in August 2024, repurchased $100.7 million in common stock in fiscal year 2024 to balance our capital allocation strategy with a goal to return additional value to shareholders in future years. We believe these actions contributed significantly to our financial performance in fiscal year 2024, which demonstrated stability while facing stabilizing but lower demand trends, and which resulted in: • a 1.9% decrease in revenue; • cash flow relating to operating activities of $734.6 million (an increase of 7.4% from 2023); and • a 97.8% decrease in GAAP diluted earnings per share due primarily to a non-cash goodwill impairment in our Biologics Solutions reporting unit and a 3.3% decrease in non-GAAP diluted earnings per share. We have discussed in detail in our 2024 financial results in the section of our Annual Report on Form 10-K entitled “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation”. Pursuant to Section 14A of the Securities Exchange Act, we are asking our shareholders to approve an advisory resolution on our executive compensation as described in this Proxy Statement. This proposal, commonly known as a “say-on-pay” proposal and required by the Dodd-Frank Wall Street Reform and 37 Consumer Protection Act of 2010 (Dodd-Frank Act), provides our shareholders with the opportunity to express their views, on an advisory (non-binding) basis, on our executive compensation for our named executives for fiscal year 2024 as described in the CD&A beginning on page 41of this Proxy Statement, as well as the Summary Compensation Table and other related compensation tables and narratives found on pages 58- 76of this Proxy Statement. The advisory vote is not a vote on our general