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PerkinElmer third quarter profit edges past Street forecast
November 2, 2017 / 8:27 PM / a month ago

PerkinElmer third quarter profit edges past Street forecast

(Reuters) - Laboratory equipment maker PerkinElmer Inc (PKI.N) on Thursday reported slightly better-than-expected third-quarter profit and revenue and narrowed its full-year earnings forecast range while keeping the midpoint the same.

The company, which also sells neonatal and environmental testing equipment, posted a net profit from continuing operations of $96.5 million, or 87 cents per share, compared with a profit of $53.9 million, or 49 cents per share, a year ago.

    Excluding items, PerkinElmer said it had adjusted earnings of 73 cents per share. Analysts on average expected 72 cents per share, according to Thomson Reuters data.

    PerkinElmer now expects adjusted 2017 earnings of $2.87 to $2.89 per share versus its prior view of $2.84 to $2.92. Analysts on average are forecasting $2.89 per share.

    Revenue for the quarter rose 8 percent to $554.3 million, about $2 million more than the consensus Wall Street estimate.

    Reporting by Bill Berkrot; Editing by Jonathan Oatis

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