Charles River Laboratories International Inc. a Wilmington drug research and services firm, said it is projecting sales and profit gains for 2012.
Looking to gain efficiencies and cut costs, the company’s biopharmaceutical clients are inclined to outsource more research, and that is an opportunity for Charles River Laboratories, the company said in a press release.
“We believe market conditions have stabilized, and visibility is improving,’’ company chairman, president, and chief executive James C. Foster said in a statement. “As a result, we view 2012 as a more stable year in which sales growth begins to strengthen in a range of 1 percent to 3 percent on a constant currency basis, and non-GAAP earnings per share increase between 7 percent and 11 percent, or in a range of $2.60 to $2.70.’’
The company added that it is reaffirming the 2011 guidance it issued Nov. 2. In 2011, the company expects net sales growth to be slightly higher; its non-GAAP eps estimate is $2.40 to $2.45.