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PerkinElmer Shares Climb 6 Percent One Day After Firm Reported 11-Percent Revenue Growth

NEW YORK, Jan. 28 (GenomeWeb News) - Shares in PerkinElmer were up 5.57 percent, or $1.20, at $22.75 in late-afternoon trading today, one day after the company reported substantial gains in revenue during the fourth quarter.

 

The Massachusetts-based company said yesterday that total receipts jumped 11 percent in the fourth quarter of 2004. The increase was spurred by revenue in its Life and Analytical Sciences division.

 

Total company revenue for the three months ended Dec. 31 shot up to $478 million from $431.8 million in the year-ago period. The Life and Analytical Sciences division saw revenue grow to $311 million in the fourth quarter of 2004 from $290 million in the same period last year -- a rise of 6.8 percent.

 

The company attributed the division's growth during the quarter to "double digit" revenue growth in its genetic-screening, -service and environmental businesses.

 

PerkinElmer's R&D expenses for the fourth quarter of 2004 were up $4.7 million to $23.6 million.

 

Net income grew 27 percent, as PerkinElmer reported $37.9 million for the fourth quarter of 2004, compared to $27.9 million year-over-year.

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