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TheStreet Open House

PerkinElmer Announces Financial Results For The Fourth Quarter Of 2011

Stocks in this article: PKI

PerkinElmer, Inc. (NYSE: PKI), a global leader focused on improving the health and safety of people and the environment, today reported financial results for the fourth quarter ended January 1, 2012. The Company reported a GAAP loss per share from continuing operations of $0.75, as compared to earnings per share of $0.37 in the fourth quarter of 2010. On a non-GAAP basis, which includes the adjustments noted in the attached reconciliation, the Company announced adjusted earnings per share of $0.62, representing an increase of 38% as compared to the fourth quarter of 2010.

“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.”

Revenue from continuing operations in the fourth quarter of 2011 was $540.2 million, up 15% as compared to the same period a year ago. Adjusted revenue in the fourth quarter of 2011 was $554.7 million, up 6% on an organic basis, as compared to the fourth quarter of 2010, both of which include the adjustments noted in the attached reconciliations. Revenue from continuing operations in the Human and Environmental Health segments increased by 20% and 11%, respectively, as compared to the same period a year ago. Organic revenue, which includes the adjustments noted in the attached reconciliation, increased 5% in the Human Health segment and 7% in the Environmental Health segment compared to the fourth quarter of 2010.

“Our excellent fourth quarter financial results complete a terrific year for PerkinElmer, with strong growth in revenue, adjusted earnings per share and cash flow,” continued Mr. Friel. “The progress we made in 2011, both operationally and strategically, better positions us to make a dramatic impact on human and environmental health while continuing to deliver strong financial returns.”

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