PerkinElmer: 3Q Earnings Snapshot
WALTHAM, Mass. (AP) _ PerkinElmer Inc. (PKI) on Wednesday reported third-quarter earnings of $76.5 million.
The Waltham, Massachusetts-based company said it had net income of 69 cents per share. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The maker of scientific instruments posted revenue of $674.3 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $674.4 million.
PerkinElmer expects full-year earnings to be $3.60 per share.
PerkinElmer shares have risen 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1 percent. In the final minutes of trading on Wednesday, shares hit $86.56, a climb of 20 percent in the last 12 months.