PerkinElmer Inc. Earnings: Swinging to a Loss After Two Quarters of Profit

S&P 500 (NYSE:SPY) component PerkinElmer Inc. (NYSE:PKI) reported its results for the fourth quarter. PerkinElmer provides technology, services, and solutions to the environmental monitoring, diagnostics, academic research, and safety security markets.

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PerkinElmer Earnings Cheat Sheet for the Fourth Quarter

Results: Reported a loss of $84.6 million (75 cents per diluted share) in the quarter. The medical instruments and supplies company had net income of $292.9 million or $2.49 per share in the year earlier quarter.

Revenue: Rose 14.9% to $540.2 million from the year earlier quarter.

Actual vs. Wall St. Expectations: PerkinElmer Inc. reported adjusted net income of 62 cents per share. By that measure, the company beat the mean estimate of 51 cents per share. Analysts were expecting revenue of $537.1 million.

Quoting Management: “The closing of the Caliper acquisition caps an exceptional year of strategic acquisitions for PerkinElmer,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “We have created a highly differentiated portfolio by significantly strengthening our capabilities in molecular analysis, imaging, sample preparation and informatics, providing our customers with an extensive range of broad-based, application-driven solutions.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by 2 cents in the second quarter, and by 4 cents in the first quarter.

The company’s revenue has now risen for two straight quarters. In the third quarter, revenue increased 8.3% to $453.7 million from the year earlier quarter.

Looking Forward: Expectations for the company’s next quarter performance are higher than they were ninety days ago. Over the past three months, the average estimate for the first quarter of the next fiscal year has risen to 42 cents per share from 40 cents. For the fiscal year, the average estimate has moved up from $1.67 a share to $1.68 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com