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PerkinElmer Q2 Profit Declines 15 Percent on 2.5-Percent Revenue Growth

This article has been updated to correct the change in PerkinElmer's net income, which declined to $24.5 million, not by $24.5 million.

NEW YORK (GenomeWeb News) – PerkinElmer today said second-quarter net income declined 15 percent as revenues inched up 2.5 percent.
Receipts for the three months ended July 2 increased to $377 million from $368 million year over year.
Revenue from the Life and Analytical Sciences segment increased 3 percent to $278.5 million from $270.8 million year over year. The genetic screening and service businesses contributed to the increase, the company said in a statement.
Revenue for the Optoelectronics segment remained essentially flat, at $98.5 million compared to $97 million from the same period last year.
R&D costs increased 13 percent to $25 million from $22 million from the comparable quarter a year ago.
PerkinElmer also reported a decline in net income to $24.5 million for the second quarter compared to $29 million last year.
PerkinElmer had $324 million in cash and cash equivalents as of July 2.

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