PerkinElmer: 2Q Earnings Snapshot
WALTHAM, Mass. (AP) _ PerkinElmer Inc. (PKI) on Monday reported second-quarter profit of $69.1 million.
On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 62 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The maker of scientific instruments posted revenue of $722.5 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $730.3 million.
PerkinElmer expects full-year earnings in the range of $4.02 to $4.07 per share.
PerkinElmer shares have increased 21% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Monday, shares hit $95.34, a climb of 22% in the last 12 months.