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PerkinElmer's Q2 Revenues Rise 21 Percent

NEW YORK (GenomeWeb News) – PerkinElmer reported after the close of the market on Thursday that its second-quarter revenues rose 21 percent, or 11 percent excluding the effects of currency translation and acquisitions.
 
The Waltham, Mass.-based firm generated revenues of $528.6 million for the three-month period ended June 29, compared to revenues of $437.3 million for the comparable period of 2007. Sales for its Life and Analytical Sciences segment rose 22 percent to $397.1 million from $326.3 million year over year, while sales for the Optoelectronics unit climbed 19 percent to $131.6 million from $111 million.
 
PerkinElmer posted a profit of $23.7 million, or $.20 per share, compared to net earnings of $33.7 million, or $.28 per share, in the second quarter of 2007. This year’s results include a $6.8 million loss related to discontinued operations, while last year’s results included a $15.3 million gain on the settlement of an insurance claim.
 
The firm’s R&D costs increased 9.5 percent to $29.9 million from $27.3 million, while its SG&A costs climbed 30.7 percent to $143 million from $109.4 million.
 
PerkinElmer finished the quarter with $193.5 million in cash and cash equivalents.

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