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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;

Stock News for Perkin Elmer (PKI)
11/12/201506:12:33Statement of Changes in Beneficial Ownership (4)
11/10/201511:17:51Quarterly Report (10-q)
11/05/201516:46:52Current Report Filing (8-k)
11/05/201516:05:00PerkinElmer Announces Financial Results for the Third Quarter...
11/04/201516:09:05Statement of Changes in Beneficial Ownership (4)
11/02/201516:05:00PerkinElmer to Present at Stifel Healthcare Conference
10/29/201516:05:00PerkinElmer Board Declares Quarterly Dividend
10/26/201516:06:25Statement of Changes in Beneficial Ownership (4)
10/02/201516:05:00PerkinElmer to Hold Earnings Call on Thursday, November 5, 2015
09/15/201516:06:50Statement of Changes in Beneficial Ownership (4)
09/04/201516:06:47Statement of Changes in Beneficial Ownership (4)
09/01/201516:05:00PerkinElmer to Present at Morgan Stanley Global Healthcare Conference
08/13/201516:07:09Statement of Changes in Beneficial Ownership (4)
08/04/201509:44:58Quarterly Report (10-q)
07/30/201517:03:51Current Report Filing (8-k)
07/30/201516:18:00PerkinElmer Announces Financial Results for the Second Quarter...
07/23/201516:05:00PerkinElmer Board Declares Quarterly Dividend
07/06/201516:05:00PerkinElmer to Hold Earnings Call on Thursday, July 30, 2015
06/19/201511:39:04Annual Report of Employee Stock Plans (11-k)
06/10/201511:32:41Amended Statement of Ownership (sc 13g/a)

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