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PerkinElmer Q1 Profit Decreases, but beats estimates

PerkinElmer (PKI) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $176.96 million, or $1.40 per share. This compares with $379.31 million, or $3.37 per share, in last year's first quarter.

Excluding items, PerkinElmer reported adjusted earnings of $2.41 per share for the period.

Analysts on average had expected the company to earn $2.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $1.26 billion from $1.31 billion last year.

PerkinElmer earnings at a glance (GAAP) :

-Earnings (Q1): $176.96 Mln. vs. $379.31 Mln. last year.
-EPS (Q1): $1.40 vs. $3.37 last year.
-Analyst Estimates: $2.08
-Revenue (Q1): $1.26 Bln vs. $1.31 Bln last year.

-Guidance:
Next quarter EPS guidance: $2.00 - $2.05
Next quarter revenue guidance: $1.20 - $1.22 Bln
Full year EPS guidance: $7.15 - $7.45
Full year revenue guidance: $4.56 - $4.63

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