PerkinElmer Posts Higher Q3 Profit

(RTTNews) - PerkinElmer, Inc. (PKI) reported net income for the third quarter of $42.3 million or $0.37 per share, compare to $40.2 million or $0.36 per share for the year-ago quarter.

earnings per share from continuing operations for the third quarter was $0.38, compared to $0.36 in the third quarter of 2013.

Adjusted earnings per share for the third quarter was $0.57, compared to $0.50 in the prior year quarter.

Revenue for the third quarter of 2014 was $542.0 million, as compared to $522.1 million in the third quarter of 2013. Adjusted revenue was $542.9 million, compared to $523.0 million in the third quarter of 2013.

Analysts polled by Thomson Reuters expected the company to earn $0.57 per share on revenue of $550.44 million for the third quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now forecasts earnings per share from continuing operations of $1.80 to $1.82, and adjusted earnings per share of $2.39 to $2.41. Previously, the company forecast earnings per share from continuing operations of $1.89 to $1.93 and adjusted earnings per share of $2.42 to $2.46. Analysts currently expect the company to earn $2.44 per share for the full year 2014.