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PerkinElmer's Q3 Revenues Rise 13 Percent Amid 'Strong Growth' in Gene Screening, Medical Imaging

NEW YORK (GenomeWeb News) — PerkinElmer yesterday reported that third-quarter revenues increased 13 percent as R&D spending jumped 12 percent and profit ticked up about 3 percent.
 
Total receipts for the three months ended Sept. 30 increased to $435.7 million from $386.9 million year over year, PerkinElmer said. 
 
Revenue for the company’s Life and Analytical Sciences business and its Optoelectronics unit swelled 13 percent year over year apiece, to $319.3 million and $116.3 million, respectively.
 
Feeding the increase was “strong growth in genetic screening, medical imaging, and service,” PerkinElmer said.
 
R&D spending in the quarter increased to $27.7 million from $24.8 million year over year.
 
PerkinElmer said profits in the period rose to $30.7 million from $29.8 million in the prior-year period.
 
PerkinElmer said it had around $160.9 million in cash and equivalents as of Sept. 30.
 
CEO Gregory Summe said in a statement that the company’s “investments in new products, services and geographic expansion continue to yield attractive results.” He did not elaborate in the statement.
 
The company said it expects fourth-quarter revenue to increase in the mid-teens with acquisitions and changes in foreign exchange rates contributing approximately 7 percent of that growth.

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