PerkinElmer Life and Analytical Sciences Revenue Up 6 Percent in Q1

NEW YORK, April 28 (GenomeWeb News) - PerkinElmer yesterday reported a 6-percent rise in first-quarter 2005 revenue from its Life and Analytical Sciences unit, and revenue growth for the quarter of 6 percent for the company overall.

PerkinElmer Life and Analytical Sciences revenues for the first three months of 2005 increased to $264.8 million from $249.2 million year over year. The company attributed the growth to "strong growth in genetic screening, medical imaging, environmental and service."

The unit's other businesses include "biopharma" and "biotech imaging."

The company's overall revenues for the quarter were $416.3 million, up $23.6 million from first-quarter 2004 revenues of $392.6 million.

Net income in the first quarter rose from $13.2 million, or $.15 per share, in 2004 to $19.8 million, or $.10 per share, in 2005.

R&D spending in the period grew to $23.6 million from $20.2 million in the similar quarter of 2004.

As of April 3, the company reported cash and cash equivalents of $184.2 million, with total current assets of $743.2 million.