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PerkinElmer Q3 Receipts Grow 7 Percent But Profits Sink 7 Percent; Shares Up 5.7 Percent

NEW YORK (GenomeWeb News) — PerkinElmer today said revenue for the third quarter increased 7 percent while profits fell 7 percent.
Total receipts for the three months ended Sept. 30 increased to $387 million from $360 million year over year.
Revenue from its life and analytical sciences division grew to $284 million from $259 million year over year.
The company spent $24.8 million on research and development in the quarter, up $3 million from last year.
Income declined to $29.7 million from $31.8 million in the third quarter of 2005.
PerkinElmer said it had around $207 million in cash and equivalents and around $7.5 million in marketable securities and investments as of Sept. 30.
Shares in PerkinElmer were up 5.72 percent, or $1.17, at $21.48 in mid-afternoon trading.

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