PK = Deltagen Inc.

PRXL = Parexel International Corp.

Pvt1 = Quintiles Transnational Corp. (privately held)

Industry = Biotechnology

As of 2005

Source: Yahoo! Finance, April 29, 2007.

Figure 1. Financial Performance: Charles River Laboratories vs. Deltagen Inc. And Parexel International Corp. - January 2002 to date.

Source: Yahoo! Finance, April 29, 2007.

Operating income for 2006 was reported by the company to be $188.2 million compared to $184.7 million for 2005 and its operating margin for 2006 was 17.8% compared to 18.6% for 2005 (Form 10-K, 2007). The company's 2006 operating margin rate was adversely affected by a $11.7 million (1.1%) charge due to the additional costs associated with expensing stock options; however, the negative impact was partially offset by improved margins in the company's PCS business segment (Form 10-K, 2007). Finally, the company's net income from continuing operations in 2006 was $125.2 million compared with $145.8 million in...
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