PerkinElmer Q4 Profit Beats Estimates; Establishes Full Year 2014 Guidance

(RTTNews) - PerkinElmer, Inc. (PKI) reported fourth-quarter net income of $64.47 million or $0.57 per share, compared to a loss of $15.86 million or $0.14 per share, last year. Income from continuing operations was $66.00 million or $0.58 per share, compared to a loss of $16.19 million or $0.14 per share, a year ago. Adjusted earnings per share was $0.73, for the quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Revenue rose year-over-year to $593.28 million, from $572.92 million. Adjusted revenue for the quarter grew 3% to $594.0 million, compared to $577.0 million, a year ago. Analysts expected revenue of $589.10 million for the quarter.

For the full year 2014, the company forecasts GAAP earnings per share from continuing operations in the range of $1.93 to $1.98 and on a non-GAAP basis, adjusted earnings per share of $2.40 to $2.45. Analysts expect the company to report fiscal 2014 profit per share of $2.42.