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TheStreet Open House

PerkinElmer Announces Financial Results For The Third Quarter Of 2013

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 29, 2013.

The Company reported GAAP earnings per share from continuing operations of $0.36, compared to $0.25 in the third quarter of 2012. Revenue in the third quarter of 2013 was $524.3 million, as compared to $509.6 million in the third quarter of 2012. GAAP operating income from continuing operations for the third quarter of 2013 was $57.2 million, compared to $43.2 million in the third quarter of 2012. GAAP operating profit margin from continuing operations was 10.9% in the third quarter of 2013, compared to 8.5% in the third quarter of 2012.

Adjusted earnings per share was $0.49, compared to $0.45 in the third quarter of 2012. Adjusted revenue and organic revenue both increased 2% for the quarter. Adjusted revenue was $525.1 million, compared to $514.8 million in the third quarter of 2012. Adjusted operating income for the third quarter of 2013 was $81.6 million, compared to $78.3 million for the same period a year ago. Adjusted operating profit margin was 15.5% as a percentage of adjusted revenue, compared to 15.2% for the same period a year ago. Adjustments for the Company’s non-GAAP financial measures have been noted in the attached reconciliations.

“I am pleased with our third quarter performance as we were able to grow both revenue and adjusted earnings per share and expand operating margins,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “While I remain encouraged by the resiliency we are seeing across much of the portfolio, the global economic environment remains challenging. We believe, however, that the growth and productivity investments deployed over the past year should help us in the successful delivery of our full year commitments as we build a strong foundation for the future.”

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