April 25 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.