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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)
03/21/201716:06:49Statement of Changes in Beneficial Ownership (4)
03/15/201716:12:55Statement of Changes in Beneficial Ownership (4)
03/15/201716:12:29Statement of Changes in Beneficial Ownership (4)
03/08/201708:03:40Additional Proxy Soliciting Materials (definitive) (defa14a)
03/08/201708:02:17Proxy Statement (definitive) (def 14a)
02/28/201718:43:06Annual Report (10-k)
02/22/201716:07:11Statement of Changes in Beneficial Ownership (4)
02/21/201716:06:40Statement of Changes in Beneficial Ownership (4)
02/16/201716:15:00Perkinelmer to Present at Barclays Capital Global Healthcare...
02/16/201716:07:43Statement of Changes in Beneficial Ownership (4)
02/13/201717:31:22Amended Statement of Ownership (sc 13g/a)
02/13/201715:13:31Statement of Ownership (sc 13g)
02/10/201716:30:49Statement of Changes in Beneficial Ownership (4)
02/10/201716:14:46Amended Statement of Ownership (sc 13g/a)
02/10/201716:07:50Statement of Changes in Beneficial Ownership (4)
02/08/201718:00:34Statement of Changes in Beneficial Ownership (4)
02/08/201717:39:20Statement of Changes in Beneficial Ownership (4)
02/08/201717:34:59Statement of Changes in Beneficial Ownership (4)
02/08/201717:34:59Statement of Changes in Beneficial Ownership (4)
02/08/201717:28:28Statement of Changes in Beneficial Ownership (4)

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