Despite promises from Stop Huntingdon Animal Cruelty and other groups that they would shut down Huntingdon Life Sciences, the company appears to continue its steady financial improvement.
On November 3, 2003, the company released its 3rd quarter 10K report detailing its financial operations through September 30, 2003. Comparing the 3rd quarter 2003 to the 3rd quarter 2002, the report noted,
Net revenues for the three months ended September 30, 2003 were $32.7 million, an increase of 9.3% on net revenues of $30.0 million for the three months ended September 30, 2002. Excluding the effect of exchange rate movements, the increase was 6%. UK net revenues increased by 8.5%, at constant exchange rates the increase was 4.4%. This reflected the growth in orders, particularly in toxicology, in 2002 and 2003, although 2003 has been affected by certain cancellations and delays associated with our clients’ compounds. New signings in the UK in the quarter were 3% down as compared to the same period in 2002. In the US, net revenues increased by 11.3%. New signings in the US for the three months ended September 30, 2003 were 8% down on the same period last year.
Overall, net revenues for HLS were up 14.9 percent total and 7.5 percent once exchange rate effects were excluded, from January through September of 2003 compared to the same period in 2002.
A profile of Brian Cass in the Evening Standard noted that in the five years since the formation of Stop Huntingdon Animal Cruelty, the company has seen its orders double to 100 million pounds.
Source:
Putting life into Huntingdon. Michael Pilgrim, Evening Standard (UK), February 1, 2004.
Form 10-Q for LIFE SCIENCES RESEARCH INC. Life Sciences Research, November 3, 2003.