<SEC-DOCUMENT>0000950103-23-016542.txt : 20240108
<SEC-HEADER>0000950103-23-016542.hdr.sgml : 20240108
<ACCEPTANCE-DATETIME>20231121161317
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-23-016542
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20231121

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
		CENTRAL INDEX KEY:			0001100682
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				061397316
		FISCAL YEAR END:			1230

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		251 BALLARDVALE ST
		CITY:			WILMINGTON
		STATE:			MA
		ZIP:			01887
		BUSINESS PHONE:		781-222-6000

	MAIL ADDRESS:	
		STREET 1:		251 BALLARDVALE ST
		CITY:			WILMINGTON
		STATE:			MA
		ZIP:			01887

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHARLES RIVER LABORATORIES INTERNATIONAL INC
		DATE OF NAME CHANGE:	20000605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHARLES RIVER LABORATORIES HOLDINGS INC
		DATE OF NAME CHANGE:	19991208
</SEC-HEADER>
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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>VIA EDGAR</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">November 21, 2023</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">U.S. Securities and Exchange Commission</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Division of Corporation Finance</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Office of Technology</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">Attn:</FONT></TD><TD><FONT STYLE="font-size: 10pt">Kristin Lochhead, Senior Staff
Accountant</FONT></TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Brian Cascio, Accounting
Branch Chief</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Re: Charles River Laboratories International,
Inc.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Form 10-K for the Fiscal Year Ended
December 31, 2022</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Form 8-K dated November 8, 2023</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>File No. 001-15943</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Members of the Staff:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Charles River Laboratories International,
Inc. (the &ldquo;<I>Company&rdquo; or &ldquo;we&rdquo;</I>) submits this letter in response to the comments from the staff (the &ldquo;<I>Staff</I>&rdquo;)
of the Securities and Exchange Commission contained in the letter dated November 14, 2023, for the above-referenced filings. The Staff&rsquo;s
comment has been recited in bold type and is followed by the Company&rsquo;s response.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Form 10-K for the Fiscal Year Ended
December 31, 2022</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Item 7. Management's Discussion
and Analysis of Financial Condition and Results of Operations</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Results of Operations, Fiscal
Year 2022 Compared to Fiscal Year 2021, page 47</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>We reference your discussion
                                            of Revenue and Operating Income by segment. In future filings, revise to also provide a discussion
                                            of material changes in result of operations for the registrant as a whole, as required by
                                            Item 303(b) of Regulation S-K.</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Company respectfully acknowledges
the Staff&rsquo;s comment and advises the Staff in response to the comment that we included a summary of results of operations for the
Company as a whole on pages 42-43 within the Overview section of Item 7. Management&rsquo;s Discussion and Analysis. In future filings,
we will combine this discussion with the Results of Operations section. The summary on pages 42-43 is as follows:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt"><B><I>Overview
of Results of Operations and Liquidity</I></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">Revenue
for fiscal year 2022 was $4.0 billion compared to $3.5 billion in fiscal year 2021. The 2022 increase as compared to the corresponding
period in 2021 was $435.9 million, or 12.3%, and was primarily due to the increased demand within our DSA segment, the impact of the
53rd&nbsp;week, and our recent acquisitions; partially offset by the recent divestitures (principally RMS Japan and CDMO Sweden), and
the negative effect of changes in foreign currency exchange rates when compared to the corresponding period in 2021.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">In
fiscal year 2022, our operating income and operating income margin were $651.0 million and 16.4%, respectively, compared with $589.9
million and 16.7%, respectively, in fiscal year 2021. The increase in operating income was primarily due to the contribution of higher
revenue</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt"><B>251 Ballardvale Street, Wilmington, Massachusetts 01887</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt"><IMG SRC="image_001.jpg" ALT=""></P><P STYLE="font-size: 10pt; margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">described
above; partially offset by higher amortization related to our recent acquisitions, higher operating costs associated with our CDMO business,
higher staffing costs, and modest inflationary pressures compared to the corresponding period in 2021. These increased costs were the
primary driver of the decreased operating income margin compared to the corresponding period in 2021.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">Net
income attributable to common shareholders increased to $486.2 million in fiscal year 2022, from $391.0 million in the corresponding
period of 2021. The increase in net income attributable to common shareholders of $95.2 million was primarily due to the increase in
operating income described above, the gain on the divestiture of our Avian business of $123.4&nbsp;million, partially offset by higher
provision for income taxes compared to the corresponding period in 2021.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">During
fiscal year 2022, our cash flows from operations was $619.6 million compared with $760.8 million for fiscal year 2021. The decrease was
driven by changes in our working capital balances, principally the timing of our revenue and collections of net contract balances from
customers (collectively trade receivables and contract assets, net; deferred revenue; and customer contract deposits) and timing of payments
to vendors, increased inventory purchases to support growth initiatives of our businesses, principally Safety Assessment, and higher
variable compensation payments in 2022 as compared to the same period in 2021.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Form 8-K dated November 8, 2023</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Exhibit 99.1 Press release dated
November 8, 2023</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Reconciliation of GAAP to Non-GAAP
Selected Business Segment Information (Unaudited), page 4</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>We reference footnote (3)
                                            related to the adjustment for Site consolidation costs, impairments and other items. In future
                                            filings please separately quantify all material items that are included within the footnote.
                                            In addition, we note that the &quot;other items&quot; include certain third-party legal costs.
                                            To the extent legal costs make up a material portion of the overall adjustment, consider
                                            including this adjustment as a separate line item.</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Company respectfully acknowledges
the Staff&rsquo;s comment and we plan to update our disclosure in future furnished earnings releases to separately quantify all material
items included within the Reconciliation of GAAP to Non-GAAP schedules. Separately, to the extent legal costs make up a material amount,
we will include this adjustment as a separate line item.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Reconciliation of GAAP Earnings
to Non-GAAP Earnings (Unaudited), page 5</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><B>3.</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Please explain your rationale
                                            for including the non-GAAP adjustment to net income related to &quot;Venture capital and
                                            strategic equity investment losses, net&quot;. In this regard, tell us how you considered
                                            Question 100.04 of our Compliance and Disclosure Interpretations &quot;Non-GAAP Financial
                                            Measures&quot; since these amounts are required by U.S. GAAP.</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Company respectfully acknowledges
the Staff&rsquo;s comment. We are making Non-GAAP adjustments related to our gains and losses of our venture capital and strategic equity
investments because we believe these adjustments are not in the normal course of business, are highly variable, are predominantly non-cash,
and not representative of our core business operating results. These gains and losses are based on the recognition and measurement principles
of <U>ASC Topic 321 - Investments</U> and <U>ASC Topic 323 - Equity Method and Joint Ventures</U>. The gains and losses are principally
driven by events outside of our control, such as valuation changes in the publicly traded markets (principally venture capital investments)
and valuation changes due to varying liquidity events for investees (principally strategic investments under</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt"><B>251 Ballardvale Street, Wilmington, Massachusetts 01887</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt"><IMG SRC="image_001.jpg" ALT=""></P><P STYLE="font-size: 10pt; margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">the cost method of accounting). As such,
we believe it is appropriate to include these gains and losses as a Non-GAAP adjustment. <FONT STYLE="color: #242424">We do not believe
that these adjustments result in a Non-GAAP presentation that is misleading because we are including both investment gains and losses
as a Non-GAAP adjustment on a consistent basis each reporting period, and these gains or losses are not the result of our business operations
but the result of external events outside of our control.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Separately, we incur gains and losses
related to certain strategic investments within our portfolio where we have significant influence (typically a 20-49% ownership stake
or have representation on the board of directors), and are therefore required to account for these investments under the equity method
of accounting in accordance with ASC Topic 323. Due to the fact that we have significant influence over the operations of such investments,
in those circumstances we believe the proportional share of net income or loss should not be included (and we have not included) as a
Non-GAAP adjustment. To date, the amount of gains and losses related to these equity method accounting investments has been insignificant.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">We have considered Question 100.04 of
the Compliance and Disclosure Interpretations and believe that the Non-GAAP adjustments related to the gains and losses of our venture
capital and strategic investments have not been individually tailored and are the actual gains and losses determined in a manner consistent
with GAAP as described above.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">* * * *</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">If you have any questions or comments
regarding these responses or require any additional information, please do not hesitate to contact me at <FONT STYLE="color: Blue"><U>flavia.pease@crl.com
</U></FONT>or (732) 543-4994.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="2" CELLSPACING="2" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 65%">&nbsp;</TD>
  <TD STYLE="width: 35%">Very Truly Yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Flavia Pease</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Flavia Pease, Chief Financial
Officer</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">cc: James C. Foster, Chief Executive
Officer</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"><FONT STYLE="font-size: 10pt">Matthew Daniel,
General Counsel</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"><FONT STYLE="font-size: 10pt">Michael Knell,
Chief Accounting Officer</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"></P>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt"><B>251 Ballardvale Street, Wilmington, Massachusetts 01887</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 27pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
