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PerkinElmer profit, revenue edge past Wall Street forecasts
May 4, 2017 / 8:26 PM / 7 months ago

PerkinElmer profit, revenue edge past Wall Street forecasts

May 4 (Reuters) - Scientific instruments maker PerkinElmer on Thursday reported slightly higher-than-expected first quarter profit and revenue and raised its full-year earnings forecast range by 5 cents as the company rebounded after successive disappointing quarters.

PerkinElmer, which also sells food safety and environmental testing equipment, said profit from continuing operations fell to $36 million, or 33 cents per share, from $41.7 million, or 38 cents a share, a year ago due to restructuring costs.

Excluding special items, the company said it had adjusted earnings of 55 cents per share. Analysts on average expected 54 cents, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 3 percent to $514 million, edging past Wall Street estimates of $506 million.

PerkinElmer said it now expects 2017 adjusted earnings of $2.80 to $2.90 per share, up from its prior forecast of $2.75 to $2.85 per share. (Reporting by Bill Berkrot; Editing by Alistair Bell)

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