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PerkinElmer Earnings Up, Life Sciences Revenues Decline

NEW YORK, April 24 - PerkinElmer reported today earnings of $2.3 million and a slight increase in revenues for the first quarter.

 

These earnings, which came to $.02 per share, contrasted with the company's net loss of $147.3 million, or $1.17 per share, for the same period last year, which was widened due to changes in accounting rules.

 

Total sales for the company totaled $358.4 million, compared to $346.3 million in the same period last year.   While revenues in the company's optoelectronics and analytical instruments areas grew, revenue declined in life sciences.

 

R&D expenses for the quarter came to $20.9 million, compared to $21.8 million for the year-ago quarter.

 

The company had a total of $129.8 million in cash and cash equivalents at the end of March, compared to $170.4 million on March 31, 2002.

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