PerkinElmer Q1 Profit Tops Estimate; Boosts Outlook

(RTTNews) - PerkinElmer, Inc. (PKI) reported net income for the first quarter of $34.2 million or $0.30 per share, compared to $32.2 million or $0.28 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the first quarter was $0.46, compared to $0.36 in the first quarter of last year.

Revenue in the first quarter rose to $531.9 million from $505.4 million a year earlier. Adjusted revenue for the quarter grew 5% to $533.4 million from $507.3 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.44 per share on revenue of $531.31 million for the first quarter. Analysts' estimates typically exclude special items. The company raised its full year 2014 adjusted earnings guidance to a range of $2.42 to $2.46 per share from its prior guidance of $2.40 to $2.45 per share. Analysts currently expect the company to earn $2.45 per share for the full year 2014.