July 13, 2020 / 12:41 PM / 22 days ago

PerkinElmer forecasts 12% rise in second-quarter revenue

(Reuters) - Diagnostic kit maker PerkinElmer Inc (PKI.N) on Monday forecast a 12% rise in second-quarter revenue on better-than-expected demand for its COVID-19 testing products.

The company expects $190 million in revenue from the sale of testing kits, it said in a statement. (reut.rs/3fpXkan)

PerkinElmer’s serological test to identify COVID-19 antibodies received an approval for emergency use from the U.S. Food and Drug Administration in May.

Analysts on average were expecting revenue of $668.9 million, according to data from Refinitiv I/B/E/S.

The company is expected to report second-quarter results on July 28.

Reporting by Trisha Roy in Bengaluru; Editing by Anil D'Silva

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