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PerkinElmer 4Q Profit Up On $315.3M Gain; Revenue Up

DOW JONES NEWSWIRES PerkinElmer Inc.'s (PKI) fourth-quarter earnings soared as the company booked a $315.3 million gain on the disposition of discontinued operations. Adjusted earnings topped the company's forecasts. The company also forecast current-year earnings of $1.56 to $1.64 a share on an organic revenue increase in the mid-single digit range on a percentage basis. Analysts surveyed by Thomson Reuters expect $1.61 on 8% revenue growth. The company, which sells analytical products and services to the health-care and industrial sectors, has seen strong revenue growth lately, helped by its environmental health division. Revenue also has increased in its human-health division. Revenue in those two segments rose 8% and 12%, respectively, in the most recent quarter. PerkinElmer reported a profit of $288.5 million, or $2.46 a share, up from $39.9 million, or 34 cents, a year earlier. Excluding discontinued operations and items such as amortization of intangible assets and tax credits, earnings rose to 44 cents from 37 cents. The company had previously projected earnings of 40 cents to 42 cents. Revenue rose 9.7% to $470 million. Analysts polled by Thomson Reuters had most recently forecast $463 million in revenue. Gross margin fell to 44.3% from 45.2%. Shares closed at $25.96 and were inactive after hours. As of the close, the stock had risen 26% over the past 12 months. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; [email protected];

Stock News for Perkin Elmer (PKI)
01/09/201716:15:00PerkinElmer to Acquire Tulip Diagnostics Private Limited in India
01/06/201717:05:00PerkinElmer to Hold Earnings Call on Thursday, February 2, 2017
12/22/201608:32:02Current Report Filing (8-k)
12/22/201608:15:00PerkinElmer to Sell Medical Imaging Business to Varian Medical...
12/22/201608:15:00Varian Medical Systems Announces Agreement to Acquire PerkinElmer's...
12/12/201616:15:00PerkinElmer to Present at J.P. Morgan 35th Annual Healthcare...
12/02/201616:06:50Statement of Changes in Beneficial Ownership (4)
11/21/201616:15:00PerkinElmer to Present at Citi Global Healthcare Conference
11/16/201616:07:07Statement of Changes in Beneficial Ownership (4)
11/14/201616:15:00PerkinElmer to Present at Piper Jaffray Healthcare Conference
11/08/201616:14:35Quarterly Report (10-q)
11/07/201616:56:12Current Report Filing (8-k)
11/07/201616:15:00PerkinElmer Announces Financial Results for the Third Quarter...
10/26/201616:23:00PerkinElmer Board Declares Quarterly Dividend
10/18/201616:06:54Statement of Changes in Beneficial Ownership (4)
10/17/201616:51:43Initial Statement of Beneficial Ownership (3)
10/17/201616:07:16Current Report Filing (8-k)
10/17/201608:00:00PerkinElmer Elects Samuel Chapin to Board of Directors
10/14/201616:15:00PerkinElmer to Hold Earnings Call on Monday, November 7, 2016
10/03/201616:06:53Initial Statement of Beneficial Ownership (3)

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