NEW YORK (GenomeWeb News) — PerkinElmer on Monday said it plans to buy back as much as 10 million shares of its common stock over the next four years.

PerkinElmer’s board authorized the buyback, which will be made over the open market or “through privately negotiated transactions,” the company said.

Two weeks ago, PerkinElmer reported that third-quarter revenues rose 7 percent as profirs slid 7 percent.