January 25, 2018 / 9:29 PM / a year ago

PerkinElmer profit, 2018 forecast top Wall Street estimates

Jan 25 (Reuters) - Laboratory equipment maker PerkinElmer Inc on Thursday reported higher-than-expected fourth quarter sales and profit and issued an initial 2018 earnings forecast that surpassed Wall Street estimates.

PerkinElmer, which also makes neonatal and environmental testing equipment, forecast full-year 2018 adjusted earnings of $3.50 per share, while analysts were estimating $3.47.

For the fourth quarter, the company posted a net loss from continuing operations of $38.4 million, or 35 cents a share, due to a charge related to U.S. tax reform. The company had a net profit of $62.3 million, or 57 cents a share, in the year-ago quarter.

Excluding special items, PerkinElmer said adjusted earnings were 97 cents per share. Analysts on average expected 94 cents per share, according to Thomson Reuters I/B/E/S. (Reporting by Bill Berkrot; Editing by David Gregorio)

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