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Perkinelmer Announces Financial Results For The Second Quarter Of 2013

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 second quarter ended June 30, 2013.

The Company reported GAAP earnings per share from continuing operations of $0.24, compared to $0.29 in the second quarter of 2012. Revenue in the second quarter of 2013 was $543.3 million, as compared to $521.8 million in the second quarter of 2012. GAAP operating income from continuing operations for the second quarter of 2013 was $39.7 million, compared to $49.8 million in the second quarter of 2012. GAAP operating profit margin from continuing operations was 7.3% in the second quarter of 2013, compared to 9.5% in the second quarter of 2012.

Adjusted earnings per share was $0.51, compared to $0.53 in the second quarter of 2012. Adjusted revenue and organic revenue both increased 3% for the quarter. Adjusted revenue was $547.1 million, compared to $532.3 million in the second quarter of 2012. Adjusted operating income for the second quarter of 2013 was $85.2 million, compared to $89.7 million for the same period a year ago. Adjusted operating profit margin was 15.6% as a percentage of adjusted revenue, compared to 16.9% for the same period a year ago. For the Company’s non-GAAP financial measures, adjustments have been noted in the attached reconciliations.

“I am encouraged by our performance in the second quarter as we exceeded our adjusted revenue and adjusted operating profit forecasts despite a challenging global environment. We were able to deliver sequential revenue improvements in the areas that were under pressure in the first quarter while the remaining portfolio continued to perform well,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “Our second quarter performance gives us confidence in our ability to deliver organic growth and improved profitability in the back half of the year.”

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