PerkinElmer Announces New Organizational Structure
September 26 2016 - 8:00AM
Business Wire
Company Realigns into Two Business Segments
-- Diagnostics and Discovery & Analytical Solutions -- to
Further Accelerate Growth and Create Greater Customer Value
PerkinElmer, Inc. (NYSE: PKI), a global leader committed to
innovating for a healthier world, today announced organizational
changes effective October 3, 2016 to better position PerkinElmer to
grow in attractive end markets and expand share with the Company’s
core product offerings through an improved customer focus, more
value-add collaboration and breakthrough innovations.
PerkinElmer’s Diagnostics business, focused on reproductive
health, emerging market diagnostic solutions and applied genomics,
will become a standalone business segment to better meet the needs
of clinically-oriented customers in regulated markets. Prahlad
Singh, who has been named Senior Vice President and President,
Diagnostics effective October 3, 2016, will lead this business.
PerkinElmer’s Environmental Health and Life Science Solutions
businesses will combine to form Discovery & Analytical
Solutions. This combination will advance PerkinElmer’s success in
serving and innovating for its applications-oriented customers in
the food, environmental, industrial, and life sciences markets. Jim
Corbett has been named Executive Vice President and President,
Discovery & Analytical Solutions effective October 3, 2016.
“We are excited about taking the next step in our strategic
evolution to drive increasing profitable growth and advance our
mission of innovating for a healthier world,” said Robert Friel,
chairman and chief executive officer of PerkinElmer. “These
organizational changes will accelerate our application and
technology development efforts for the benefit of PerkinElmer’s
customers as we expand our capabilities to provide more integrated
solutions that address critical needs around the globe.”
Factors Affecting Future PerformanceThis press release
contains "forward-looking" statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements relating to estimates and projections of
future earnings per share, cash flow and revenue growth and other
financial results, developments relating to our customers and
end-markets, and plans concerning business development
opportunities and divestitures. Words such as "believes,"
"intends," "anticipates," "plans," "expects," "projects,"
"forecasts," "will" and similar expressions, and references to
guidance, are intended to identify forward-looking statements. Such
statements are based on management's current assumptions and
expectations and no assurances can be given that our assumptions or
expectations will prove to be correct. A number of important risk
factors could cause actual results to differ materially from the
results described, implied or projected in any forward-looking
statements. These factors include, without limitation: (1) markets
into which we sell our products declining or not growing as
anticipated; (2) fluctuations in the global economic and political
environments; (3) our failure to introduce new products in a timely
manner; (4) our ability to execute acquisitions and license
technologies, or to successfully integrate acquired businesses and
licensed technologies into our existing business or to make them
profitable, or successfully divest businesses; (5) our failure to
adequately protect our intellectual property; (6) the loss of any
of our licenses or licensed rights; (7) our ability to compete
effectively; (8) fluctuation in our quarterly operating results and
our ability to adjust our operations to address unexpected changes;
(9) significant disruption in third-party package delivery and
import/export services or significant increases in prices for those
services; (10) disruptions in the supply of raw materials and
supplies; (11) the manufacture and sale of products exposing us to
product liability claims; (12) our failure to maintain compliance
with applicable government regulations; (13) regulatory changes;
(14) our failure to comply with healthcare industry regulations;
(15) economic, political and other risks associated with foreign
operations; (16) our ability to retain key personnel; (17)
significant disruption in our information technology systems; (18)
our ability to obtain future financing; (19) restrictions in our
credit agreements; (20) our ability to realize the full value of
our intangible assets; (21) significant fluctuations in our stock
price; (22) reduction or elimination of dividends on our common
stock; and (23) other factors which we describe under the caption
"Risk Factors" in our most recent quarterly report on Form 10-Q and
in our other filings with the Securities and Exchange Commission.
We disclaim any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this press release.
About PerkinElmer, Inc.PerkinElmer, Inc. is a global
leader committed to innovating for a healthier world. The Company
reported revenue of approximately $2.3 billion in 2015, has
approximately 8,000 employees serving customers in more than 150
countries, and is a component of the S&P 500 Index. Additional
information is available through 1-877-PKI-NYSE or at
www.perkinelmer.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20160926005184/en/
PerkinElmer, Inc.Investor Relations:Tommy J. Thomas,
781-663-5889tommy.thomas@perkinelmer.comorMedia:Brian Willinsky,
781-663-5728brian.willinsky@perkinelmer.com
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