Charles River - JP Morgan Conference Presentation
CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
RECONCILIATION OF LAST TWELVE MONTHS (LTM) REVENUE & NON-GAAP OPERATING INCOME (1)
(dollars in thousands, except per share data)
Revenue
RMS
DSA
Fiscal Year Ended December 25, 2021
Nine Months Ended September 24, 2022
Less: Nine Months Ended September 25, 2021
Last Twelve Months (LTM) Ended September 24, 2022
Segment % of Total
$690,437
543,066
$2,107,231
1,755,639
Manufacturing
$742,492
577,512
(524,862)
(1,573,095)
(537,153)
Total CRL
$3,540,160
2,876,217
(2,635,110)
$708,641
$2,289,775
$782,851
$3,781,267
18.7%
60.6%
20.7%
100.0%
Non-GAAP Operating Income (2)
Fiscal Year Ended December 25, 2021
Nine Months Ended September 24, 2022
Less: Nine Months Ended September 25, 2021
RMS
DSA
Manufacturing
Unallocated Corp.
Total CRL
$188,501
141,573
$499,206
436,700
$254,210
173,845
($199,854)
(142,986)
$742,063
(143,879)
(375,590)
(180,933)
Last Twelve Months (LTM) Ended September 24, 2022
$186,195
$560,316
LTM 2022 Operating Margin %
26.3%
24.5%
$247,122
31.6%
147,439
($195,401)
609,132
(552,963)
$798,232
21.1%
Total LTM 2022 Non-GAAP OI excluding Unallocated Corp.
$993,633
Segment % of Total excluding Unallocated Corp.
18.7%
56.4%
24.9%
100%
Non-GAAP Net Income
Fiscal Year Ended December 25, 2021
Nine Months Ended September 24, 2022
Less: Nine Months Ended September 25, 2021
Last Twelve Months (LTM) Ended September 24, 2022
Non-GAAP Earnings Per Share
Weighted average shares outstanding - Diluted
Last Twelve Months (LTM) Ended September 24, 2022
Total CRL
$530,534
417,752
(402,085)
$546,201
51,282
$10.65
Free Cash Flow
Fiscal Year Ended December 25, 2021
Nine Months Ended September 24, 2022
Less: Nine Months Ended September 25, 2021
Last Twelve Months (LTM) Ended September 24, 2022
Operating CF
$760,799
384,883
Cap Ex
$228,772
235,709
Total CRL
$532,027
(531,541)
$614,141
(129,997)
$334,484
149,174
(401,544)
$279,657
(1) Charles River management believes that supplementary non-GAAP financial measures provide useful information to allow investors to gain a meaningful understanding of our core operating results and future prospects, without
the effect of often one-time charges and other items which are outside our normal operations, consistent with the manner in which management measures and forecasts the Company's performance. The supplementary non-GAAP
financial measures included are not meant to be considered superior to, or a substitute for results of operations prepared in accordance with U.S. GAAP. The Company intends to continue to assess the potential value of reporting
non-GAAP results consistent with applicable rules, regulations and guidance.
(2) See Financial Reconciliations section of the Company's Investor Relations web site at ir.criver.com for a reconciliation of GAAP to Non-GAAP Operating Income for each period.
Charles River - JP Morgan Conference Presentation
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