AP NEWS

PerkinElmer: 3Q Earnings Snapshot

October 30, 2019 GMT

WALTHAM, Mass. (AP) _ PerkinElmer Inc. (PKI) on Wednesday reported third-quarter profit of $58.6 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had net income of 52 cents. Earnings, adjusted for one-time gains and costs, came to $1.06 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The maker of scientific instruments posted revenue of $706.9 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $722.5 million.

PerkinElmer expects full-year earnings to be $4.07 per share.

PerkinElmer shares have risen 12% since the beginning of the year, while the Standard & Poor’s 500 index has increased 22%. In the final minutes of trading on Wednesday, shares hit $87.75, a climb of slightly more than 2% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKI at https://www.zacks.com/ap/PKI