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PerkinElmer narrows 4th-quarter loss

Thu, 01/31/2013 - 6:08pm
The Associated Press

PerkinElmer Inc. said Thursday it narrowed its fourth-quarter loss and the scientific equipment and services company issued a full-year forecast range that met market expectations at its top end.

The company reported a loss of $15.9 million, or 14 cents per share, for the quarter that ended Dec. 30. That is compared with a net loss of $83.6 million, or 74 cents per share, in the same quarter of 2011. After adjusting for acquisition costs and asset impairments, the company earned 65 cents per share from continuing operations versus 62 cents per share a year earlier. Its revenue increased to $572.9 million from $539.3 million.

Analysts polled by FactSet expected the company to earn 65 cents per share on revenue of $578.4 million.

PerkinElmer, based in Waltham, Mass., runs human and environmental health businesses. It makes scientific instruments and offers testing and diagnostic services. CEO Robert Friel said that management is pleased with the company's strong finish to the year.

The company said it expects to earn $2.24 to $2.32 per share for the full year on an adjusted basis. Analysts, on average, had forecast earnings of $2.32 per share.

Shares gained 27 cents to close regular trading at $35.24. Its shares have traded between $23.60 and $35.84 in the past 52 weeks.

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