PerkinElmer Q2 Profit Decreases, but beats estimates

(RTTNews) - PerkinElmer (PKI) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $179.21 million, or $1.42 per share. This compares with $245.93 million, or $2.19 per share, in last year's second quarter.

Excluding items, PerkinElmer reported adjusted earnings of $2.32 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue held steady at $1.23 billion

PerkinElmer earnings at a glance (GAAP) :

-Earnings (Q2): $179.21 Mln. vs. $245.93 Mln. last year. -EPS (Q2): $1.42 vs. $2.19 last year. -Analyst Estimates: $2.02 -Revenue (Q2): $1.23 Bln vs. $1.23 Bln last year.

-Guidance: Next quarter EPS guidance: $1.40 - $1.45 Next quarter revenue guidance: $1.02 - $1.03 Bln Full year EPS guidance: $7.80 - $7.90 Full year revenue guidance: $4.60 - $4.64 Bln