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Charles River Laboratories reported that sales dropped 5 percent for the fourth quarter of 2009, compared to the year-ago period. Revenue for the year was down slightly.
The Wilmington-based contract research organization booked revenue of $295.4 million for the fourth quarter of 2009, down from $311.4 million for the corresponding period in 2008. The company’s revenue for the year was $1.2 billion, down from $1.3 billion for 2008.
The company recorded profits of $17.8 million for the fourth quarter, compared with a net loss of $663.2 million for the same period in 2008. For the year, Charles River’s profits were $111.2 million in 2009, versus a loss of $524.9 million in 2008. The 2008 losses were due to a $700 million goodwill impairment charge that the company took in the fourth quarter of 2008.
Charles River CEO Jim Foster said in a statement that the company had faced a very difficult period, particularly in its preclinical services division, due to decreased spending by its customers.
The company provided guidance that net sales growth would be in the low single digits for 2010.
Charles River announced last month that it will close a facility in Shrewsbury and lay off 300 people.
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