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PerkinElmer's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: PKI

Environmental Health grew by 6%, reflecting notable contributions from our inorganic analysis offerings plus strong end market drivers, such us water and chemical analysis. Organically, our revenue grew 6%, with Human Health up 9% and Environmental Health up 3%.

Our continued focus on improving our operational efficiencies and expanding our operating margins enabled us to exceed our plans for earnings per share in the quarter and deliver adjusted EPS growth of 23%.

Across our end markets, there are 2 fundamental themes that are changing the behavior and needs of our customers. These themes uniquely position PerkinElmer to play a significant role in improving world health.

First, there is an increasing interconnectivity between human and environmental health resulting in the convergence of our 3 core end markets, Diagnostics, Environmental and Life Sciences. As the developed world faces increasing health care costs, we can leverage our complementary capabilities in these markets for better outcomes and reduce cost. We have the capabilities to aid in both understanding genetic predisposition to disease, as well as helping people avoid potential environmental triggers to disease.

Additionally, we can aid in identifying diseases, they're always possible, and help discover more effective targeted therapies.

The second overarching theme is that, as the developing world continues to grow rapidly, it is demanding greater access to health care. While many of these developing countries today are focused on necessities such as access to clean air and water and safe food, the rising middle class is demanding improved living standards. This will cause many countries to require advanced medical capabilities, such as early disease screening or diagnostic tests. Today, there is a great need to serve these customers across the increasing level of the requirements and spanning virtually every region of the globe.

PerkinElmer's extensive global channel and footprint enables us to address these needs head-on. We have a unique ability to tailor our technologies for the developed world and then bridge them into the emerging markets. While well-positioned to leverage these 2 macro themes to improve global health, we cannot stand still. Critical to our success is our ability to apply our knowledge and expertise to develop cutting-edge innovations that solve customer needs. In that regard, during the quarter, we introduced several innovative new products targeting our core end markets. These included, the HER2Sense preclinical imaging agent which supports breast cancer discovery research. The Panthera-Puncher for the handling of neonatal blood spots. An Ensemble for Biology, a suite of informatics applications intended to serve as an integrated biology workflow for use in research and development, as well as in quality assurance and control.

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