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PerkinElmer Announces Financial Results For The Fourth 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 fourth quarter ended December 30, 2012.

The Company reported GAAP loss per share from continuing operations of $0.14, compared to a loss per share of $0.74 in the fourth quarter of 2011. Revenue in the fourth quarter of 2012 was $572.9 million, as compared to $539.3 million in the fourth quarter of 2011. GAAP operating loss from continuing operations for the fourth quarter of 2012 was $30.8 million, compared to a loss of $25.9 million in the fourth quarter of 2011, impacted by non-cash charges related to trade names and mark-to-market pension plan adjustments noted in the attached reconciliations.

Adjusted earnings per share was $0.65, compared to $0.62 in the fourth quarter of 2011. Adjusted revenue for the quarter grew 4% to $577.0 million, compared to $553.9 million in the fourth quarter of 2011. Organic revenue growth was 3% after adjusting for acquisitions which added 2%, partially offset by a decrease due to unfavorable foreign currency translation of 1%. Adjusted operating income for the fourth quarter of 2012 was $105.6 million, compared to $102.5 million for the same period a year ago. Adjusted operating profit margin was 18.3% as a percentage of adjusted revenue, compared to 18.5% for 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 with our strong finish to 2012, particularly in light of difficult year over year comparisons in the fourth quarter. This performance caps another solid year of revenue growth and adjusted operating margin expansion which we believe is a result of our differentiated detection, imaging, and informatics portfolios each focused on attractive end markets,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “As we move into 2013, we expect to continue to make balanced growth and productivity investments thereby enabling future growth and profitability for our shareholders while addressing critical health and environmental needs.”

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