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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;;

Stock News for Perkin Elmer (PKI)
05/17/201616:07:33Statement of Changes in Beneficial Ownership (4)
05/12/201616:29:10Statement of Changes in Beneficial Ownership (4)
05/12/201616:24:23Statement of Changes in Beneficial Ownership (4)
05/12/201616:22:13Statement of Changes in Beneficial Ownership (4)
05/12/201616:15:17Statement of Changes in Beneficial Ownership (4)
05/12/201616:13:58Statement of Changes in Beneficial Ownership (4)
05/12/201616:13:07Statement of Changes in Beneficial Ownership (4)
05/12/201616:11:49Statement of Changes in Beneficial Ownership (4)
05/12/201616:08:09Statement of Changes in Beneficial Ownership (4)
05/10/201611:19:02Quarterly Report (10-q)
05/09/201617:00:15Statement of Changes in Beneficial Ownership (4)
05/09/201616:15:00PerkinElmer to Present at UBS Global Healthcare Conference
05/05/201617:04:22Current Report Filing (8-k)
05/05/201616:15:00PerkinElmer Announces Financial Results for the First Quarter...
04/27/201616:15:00PerkinElmer to Present at Bank of America Merrill Lynch 2016...
04/27/201616:10:13Current Report Filing (8-k)
04/27/201616:07:06Statement of Changes in Beneficial Ownership (4)
04/25/201616:15:00PerkinElmer Board Declares Quarterly Dividend
04/25/201607:27:00PerkinElmer Sells NTD Laboratory Services Business to Eurofins...
04/19/201616:06:37Statement of Changes in Beneficial Ownership (4)

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