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PerkinElmer first-quarter profit falls, lowers 2013 forecast
April 25, 2013 / 8:30 PM / 4 years ago

PerkinElmer first-quarter profit falls, lowers 2013 forecast

April 25 (Reuters) - PerkinElmer Inc on Thursday reported lower-than-expected first-quarter profit and decreased its full year forecast as difficult economic conditions and a stronger dollar hurt sales in Europe and Japan.

Excluding one time items, such as a tax credit, PerkinElmer earned 36 cents per share. Analysts on average expected 48 cents per share, according to Thomson Reuters I/B/E/S.

PerkinElmer said it now expects 2013 earnings of $2.00 to $2.10 per share, excluding items, down from its prior forecast of $2.24 to $2.32. It sees revenue growth in the low-single digits after earlier projecting mid-single digit growth. Wall Street had been looking for earnings of $2.29 per share.

The maker of scientific instruments, diagnostic equipment and environmental safety monitoring products posted a net profit from continuing operations of $32.3 million, or 28 cents per share, compared with a profit of $22.1 million, or 19 cents per share, a year ago.

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