Charles River Laboratories (Massachusetts) Announces First-Quarter 2006 Results

WILMINGTON, Mass.--(BUSINESS WIRE)--May 9, 2006--Charles River Laboratories International, Inc. (NYSE: CRL - News) today reported first-quarter 2006 financial results and announced that it has entered into a definitive agreement with Kendle International Inc. (Nasdaq: KNDL - News) to sell its Phase II - IV Clinical Services business, as it realigns its portfolio to focus on its core drug discovery and development strengths. In conjunction with the planned portfolio realignment, the Company recorded a goodwill impairment charge of $129.2 million, or $1.81 per share, for the Phase II - IV Clinical business in the first quarter of 2006. As a result, the Company reported a net loss per share of $1.40 for the first quarter of 2006, on sales of $283.8 million. On a non-GAAP basis, earnings per share were $0.50, which excludes the impairment charge and amortization and compensation charges related to the Inveresk acquisition.

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