PerkinElmer s Q2 Revenues Inch Up 3 Percent as Income Surges 39 Percent

NEW YORK, July 27 (GenomeWeb News) - PerkinElmer yesterday reported slightly increased revenues and a boost in earnings for the second quarter of 2005.

Revenues for the quarter totaled $425.5 million, representing a 3-percent increase over last year's revenues of $412.1 million during the same period. PE's life and analytical sciences unit had $270.8 million in revenues, up 5 percent from revenues of $257.9 million during the same period last year. This growth was primarily driven by PE's genetic screening, service, and environmental businesses.

Research and development expenses were $22.9 million, up slightly from $21.5 million during the same quarter last year.

The company's net income for the quarter was $28.9 million, or $.22 per share, up from last year's $20.8 million, or $.16 per share, during the same period. This quarter's earnings included both a $14.3 million benefit from provisions for income taxes and a loss of $5.2 million from discontinued operations.

As of July 3, PerkinElmer had $158.7 million in cash and cash equivalents.