Company: CRL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001100682-25-000034
Chunk: 32

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 32
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 corporate costs of $16.6 million, or 30.8%, compared to the corresponding 

30 

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.

period in 2024 is primarily due to higher third-party legal and advisory costs incurred in connection with execution of a Cooperation Agreement entered into with a shareholder earlier this year and higher variable compensation costs. Costs as a percentage of revenue for the three months ended June 28, 2025 was 6.8%, an increase of 150 bps from 5.3% for the corresponding period in 2024.

Other Income (Expense) 

Three Months EndedJune 28, 2025June 29, 2024$ change% change(in thousands, except percentages)Other income (expense):Interest income$1,097 $3,010 $(1,913)(63.6)%Interest expense(29,967)(32,769)2,802 (8.6)%Other income (expense), net154 (2,240)2,394 (106.9)%Total other expense, net$(28,716)$(31,999)$3,283 (10.3)%

Interest income for the three months ended June 28, 2025 was $1.1 million, a decrease of $1.9 million, or 63.6%, driven primarily from lower interest rates and interest earning asset balances.

Interest expense for the three months ended June 28, 2025 was $30.0 million, a decrease of $2.8 million, or 8.6%, compared to $32.8 million in the corresponding period in 2024 due primarily to lower average debt balances.

Other income, net for the three months ended June 28, 2025 was $0.2 million compared to Other expense, net of $2.2 million for the corresponding period in 2024 due primarily to higher net gains on our life insurance contracts coupled with lower net losses on our investments compared to the corresponding period in 2024.

Income Taxes

Three Months EndedJune 28, 2025June 29, 2024$ change% change(in thousands, except percentages)Provision for income taxes$18,725 $25,392 $(6,667)(26.3)%Effective tax rate26.2 %21.2 %500 bps

Income tax expense for the three months ended June 28, 2025 was $