On Tuesday after the markets closed, Healthcare Services Group (HCSG) reported in-line first-quarter 2014 results. More specific, the company reported total sales of $312.2 million, up 14.0% year-over-year and exactly in line with the consensus forecast; earnings per share were $0.21, also spot on the Street target. Top-line growth of 14.0% represented a solid acceleration…
Charles River Laboratories International Galapagos Transaction Update
On March 13 Charles River announced the acquisition of Galapagos NV’s CRO services businesses: Argenta and BioFocus. To finance the acquisition, Charles River used a combination of cash and debt from its existing euro-denominated revolving credit facility. As a result, we estimate 2014 interest expense will increase by $2.8 million, to $9.6 million. CRL trades…