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PerkinElmer Announces Financial Results For The Third Quarter Of 2012

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 third quarter ended September 30, 2012.

The Company reported GAAP earnings per share from continuing operations of $0.25, compared to $0.25 in the third quarter of 2011. Revenue in the third quarter of 2012 was $509.6 million, as compared to $452.9 million in the third quarter of 2011. GAAP operating income from continuing operations for the third quarter of 2012 increased 20% to $43.2 million, compared to $36.1 million in the third quarter of 2011. GAAP operating profit margin from continuing operations was 8% in the third quarter of 2012, compared to 8% in the third quarter of 2011.

Adjusted earnings per share was $0.45, compared to $0.43 in the third quarter of 2011. Adjusted revenue for the quarter grew 11% to $514.8 million, compared to $462.9 million in the third quarter of 2011. Organic revenue growth was 6% after adjusting for acquisitions which added 8%, partially offset by a decrease due to unfavorable foreign currency translation of 3%. Adjusted operating income for the third quarter of 2012 increased 16% to $78.3 million, compared to $67.6 million for the same period a year ago. Adjusted operating profit margin was 15% as a percentage of adjusted revenue, a 60 basis point improvement compared to the same period a year ago. For the Company’s non-GAAP financial measures, adjustments have been noted in the attached reconciliations.

“We are pleased to report another solid performance for the third quarter as global demand for our product and service offerings continued to drive organic revenue growth,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “Despite an uncertain macroeconomic environment, we remain confident in our business model and our ability to execute, giving us the conviction to raise our full year adjusted earnings per share guidance while continuing to invest in future growth and productivity intitatives.”

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