Charles River sees Citoxlab transaction approx. 15c accretive to 2019 EPS
The proposed acquisition is expected to add $115M to $130M to Charles River's 2019 consolidated revenue based on the anticipated second-quarter close, and approximately $200M to 2020 consolidated revenue. Citoxlab's revenue is expected to grow at a high-single-digit rate, which is consistent with the long-term organic revenue growth target for Charles River's Discovery and Safety Assessment segment. Citoxlab is expected to be reported as part of Charles River's DSA segment. The proposed transaction is expected to be accretive to non-GAAP earnings per share by approximately 15c in 2019 and at least 35c in 2020. Items excluded from non-GAAP earnings per share are expected to include all acquisition-related costs, which primarily include amortization of intangible assets, advisory fees, and integration costs.