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PerkinElmer Trading 5% Down

Shares of Diagnostics & Research company PerkinElmer, Inc. (PKI) are falling more than 5% Monday morning despite providing fourth-quarter outlook, better than analysts' view.

The company expects adjusted earnings per share from continuing operations to be at least $2.40 for the fourth quarter, better than the average estimate of analysts polled by Thomson Reuters at $2.12 per share.

PerkinElmer said its reported revenue in the fourth quarter is expected to decline 1% year-over-year. The consensus estimate stands at 8.2% decline.

PKI, currently at $174.34, has traded in the range of $119.95- $203.16 in the last one year.

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