PerkinElmer Inc. (PKI) reported first-quarter net income of $32.2 million or $0.28 per share, compared to $22.6 million or $0.20 per share in the same quarter last year.
Adjusted profit per share declined to $0.36 from $0.43 in the prior year period. On average, thirteen analysts polled by Thomson Reuters expected the company to report profit of $0.48 per share. Analysts' estimates typically exclude special items.
In addition, revenue rose to $505.38 million from $510.89 million in the prior year quarter, while adjusted revenue for the quarter climbed to $507.3 million from $517.4 million in the first quarter of 2012. Thirteen analysts estimated revenue of $532.25 million for the quarter.
Looking forward to the full year 2013, the company now anticipates GAAP earnings per share from continuing operations in a range of $1.30 to $1.40, while expecting non-GAAP earnings from continuing operations in the range of $2.00 to $2.10 per share. The Street currently expects the company to earn $2.29 per share for the full year.
Earlier, the company expected GAAP earnings per share from continuing operations in a range of $1.57 to $1.65 and non-GAAP earnings from continuing operations in the range of $2.24 to $2.32 per share.
For the full year 2013, the company forecasts organic revenue to increase in the low-single digit range relative to 2012.
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