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PerkinElmer Posts Flat Revenue Growth in Q3; Life Sciences Arm Inches Higher

NEW YORK, Oct. 23 (GenomeWeb News) - PerkinElmer today said that third-quarter sales remained largely flat, though revenue from its life and analytical-sciences business increased slightly in the period.


Total revenue for the three months ended Sept. 28 was $367 million compared with $366 million in the same period one year ago. Receipts from the life and ananlytical-sciences unit inched up to $235 million from $232 million during the third quarter 2002, the company said.


Companywide R&D spending was also flat in the third quarter, reaching $20 million from $20.5 million year over year.


However, net income doubled in the current quarter to $14.3 million, or $.11 per share, from $7 million, or $.06 per share, in the same quarter last year.


PerkinElmer said it had around $141 million in cash and cash equivalents as of Sept. 29.

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