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PerkinElmer

The company posted $563.4 million in revenues for the quarter ended Oct. 4, up from $542.0 million for the same period a year ago.

Fitch upgraded PerkinElmer's issuer default rating to BBB and cited the firm's improved operating profit and the potential for M&A.

Overall, analyst Bryan Brokmeier said he is bullish on the space in spite of uncertainty in the general global markets.

In a regulatory document, the company said the layoffs resulted from a restructuring plan to "emphasize growth initiatives." 

The company reported $563.9 million in revenues for the quarter, up from $556.2 million for the same period a year ago.

The partners will provide drug discovery services, expertise, and infrastructure in a new AMRI center located in the Buffalo Medical Innovation and Commercialization Hub.

Revenues for the quarter were down around one percent compared to last year. On a constant-currency basis, though, its sales were up 5 percent.

The deal provides PerkinElmer access to Applied BioCode's Barcoded Magnetic Bead technology, including the BioCode MDx 3000 instrument.

The firm also said that currency translation had a negative effect of $53 million last year.

PerkinElmer's liquid and gas chromatography portfolio will be standardized on Waters' Empower Software.

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