NEW YORK, Jan. 27 (GenomeWeb News) - PerkinElmer yesterday said that revenue for its Life and Analytical Sciences business unit declined 8 percent to $286.5 million for the fourth quarter of 2005.
The company attributed the decline to the "longer fiscal period in 2004 versus this year."
PerkinElmer posted total fourth-quarter 2005 revenue of $387.7 million, a 6-percent decrease over $411.6 million in the fourth quarter of 2004.
PerkinElmer spent $21 million on R&D during the fourth quarter of 2005, down from $22.3 million in the comparable period of 2004.
The company reported net income of $187.8 million, or $1.45, versus $37.9 million, or $.29 per share in the fourth quarter of 2004. The company said fourth quarter earnings include net divestiture gains of $1.47 per share.
As GenomeWeb News reported in October, PerkinElmer divested its aerospace and fluid-testing businesses during the quarter. Its semiconductor unit is expected to be spun off in the first quarter.
As of Jan. 1, PerkinElmer had cash and cash equivalents of $502.3 million.
Separately today, the company said Robert Friel would replace Peter Coggins as president of the Life and Analytical Sciences unit. Friel joined the company in 1999 and previously served as executive vice president and chief financial officer for the company. Coggins will retire in February.