PerkinElmer Q4 Profit Decreases, but beats estimates

(RTTNews) - PerkinElmer (PKI) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $179.18 million, or $1.41 per share. This compares with $380.36 million, or $3.38 per share, in last year's fourth quarter.

Excluding items, PerkinElmer reported adjusted earnings of $2.56 per share for the period.

Analysts on average had expected the company to earn $2.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.7% to $1.36 billion from $1.35 billion last year.

PerkinElmer earnings at a glance (GAAP) :

-Earnings (Q4): $179.18 Mln. vs. $380.36 Mln. last year. -EPS (Q4): $1.41 vs. $3.38 last year. -Analyst Estimates: $2.19 -Revenue (Q4): $1.36 Bln vs. $1.35 Bln last year.