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PerkinElmer s Revenues, Income Rise in First Quarter

NEW YORK, April 23 (GenomeWeb News) - PerkinElmer reported a 10 percent increase in year-over-year revenues in the first quarter of 2004, with 7 percent growth in its Life and Analytical Sciences division.

 

The company took in $393.5 million in the quarter, compared with $358.4 million in the same period last year. Revenues in LAS were $249.2 million, compared with $232.2 million in the year-ago period. The LAS division represented 63 percent of PerkinElmer's total revenues in Q1 2004.

 

During a conference call today discussing its quarterly earnings, Robert Friel, the company's chief financial officer, attributed much of the LAS growth in the Biopharma subdivision to strength in high-throughput screening, liquid handling, and proteomics.

 

PerkinElmer reported a hefty increase in net income as well. Income climbed to $13.3 million, or $.10 per share, from $2.4 million, or $.02 per share in the year-ago period.

 

The company's R&D spending increased to $241.5 million in Q1 2004, compared with $219.3 million in Q1 2003.

 

As of March 28, 2004, PerkinElmer had cash and cash equivalents of $165.5 million.

 

 

 

 

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