PerkinElmer Boosts Profit in Q3, Lowers Outlook
Blueprint of the addition PerkinElmer recently completed in Hopkinton
Medical device maker PerkinElmer Inc. reported marginally higher-than-expected third quarter profit and revenue but lowered the top end of its full-year earnings forecast range.
PerkinElmer reported earnings of 49 cents per share, beating Wall Street estimates of 48 cents. Quarterly revenue rose 3 percent to $524.3 million, slightly better than analyst predictions of $523.8 million.
The Waltham-based company completed a 200,000-square-foot expansion in Hopkinton this month. PerkinElmer employs more than 300 in Hopkinton and some 850 people across the commonwealth.
“I am pleased with our third-quarter performance as we were able to grow both revenue and adjusted earnings per share and expand operating margins,” CEO Robert Friel said. “While I remain encouraged by the resiliency we are seeing across much of the portfolio, the global economic environment remains challenging.”
For that reason, PerkinElmer now expects to return earnings per share of between $2.04 and $2.07. Previous statements forecast annual earnings of between $2.03 and $2.10.
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