PerkinElmer Q4 Profit Decreases, but beats estimates

(RTTNews) - PerkinElmer (PKI) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $137.658 million, or $1.09 per share. This compares with $190.184 million, or $1.50 per share, in last year's fourth quarter.

Excluding items, PerkinElmer reported adjusted earnings of $1.70 per share for the period.

Analysts on average had expected the company to earn $1.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 27.8% to $741.214 million from $1.027 billion last year.

PerkinElmer earnings at a glance (GAAP) :

-Earnings (Q4): $137.658 Mln. vs. $190.184 Mln. last year. -EPS (Q4): $1.09 vs. $1.50 last year. -Analyst Estimates: $1.62 -Revenue (Q4): $741.214 Mln vs. $1.027 Bln last year.