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PerkinElmer 2Q Profit Down 50% On Expenses; Raises Outlook

DOW JONES NEWSWIRES PerkinElmer Inc.'s (PKI) second-quarter earnings fell 50% on higher expenses and write-downs, masking double-digit sales growth in the human and environmental health segments. The company, which sells analytical products and services to the health-care and industrial sectors, raised its full-year earnings guidance to $1.64 to $1.68 from its previous view of $1.62 to $1.67 a share. PerkinElmer has posted strong revenue growth in recent quarters, especially in its environmental health and human-health divisions. The company has been on a buying spree of late, most recently acquiring X-ray detection technologies provider Dexela Ltd. in June and electronic laboratory notebook maker Labtronics Inc. in May. PerkinElmer posted a profit of $28.6 million, or 25 cents a share, down from $57.6 million, or 49 cents a share, a year earlier. Excluding write-downs and other items, earnings rose to 42 cents from 33 cents. Revenue rose 14% to $479.5 million. Analysts polled by Thomson Reuters had most recently forecast a profit of 40 cents a share on $478 million in revenue. Operating margin was edged down to 7.8% from 7.9%. Cost of sales increased 16% as overhead expenses rose 14%. Revenue in the human and environmental health divisions was up 11% and 14% respectively. Shares were down a penny to $21.38 in after-hours trading. As of the close, the stock is down 17% year-to-date. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Perkin Elmer (PKI)
DateTimeHeadline
05/20/201512:15:10What Is the S&P 500 Index?
05/07/201516:11:56Statement of Changes in Beneficial Ownership (4)
05/07/201516:09:42Statement of Changes in Beneficial Ownership (4)
05/07/201516:08:26Statement of Changes in Beneficial Ownership (4)
05/07/201516:07:35Statement of Changes in Beneficial Ownership (4)
05/07/201516:07:08Statement of Changes in Beneficial Ownership (4)
05/07/201516:06:40Statement of Changes in Beneficial Ownership (4)
05/07/201516:05:00PerkinElmer to Present at UBS Global Healthcare Conference
05/05/201513:25:05Quarterly Report (10-q)
05/04/201517:19:16PerkinElmer Stock Rating Reaffirmed by BTIG Research (PKI)
05/04/201516:05:00PerkinElmer to Present at Bank of America Merrill Lynch 2015...
05/04/201503:31:02PerkinElmer Downgraded by KeyBanc (PKI)
05/01/201503:27:44Mizuho Initiates Coverage on PerkinElmer (PKI)
04/30/201517:18:47Current Report Filing (8-k)
04/30/201516:05:00PerkinElmer Announces Financial Results for the First Quarter...
04/29/201516:10:47Current Report Filing (8-k)
04/27/201516:27:00PerkinElmer Board Declares Quarterly Dividend
04/20/201516:05:00PerkinElmer To Present at Baird 2015 Growth Stock Conference
04/06/201516:05:00PerkinElmer to Hold Earnings Call on Thursday, April 30, 2015
03/30/201516:06:48Statement of Changes in Beneficial Ownership (4)

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