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PerkinElmer: 2Q Earnings Snapshot

July 29, 2019

WALTHAM, Mass. (AP) _ PerkinElmer Inc. (PKI) on Monday reported second-quarter profit of $69.1 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 62 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The maker of scientific instruments posted revenue of $722.5 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $730.3 million.

PerkinElmer expects full-year earnings in the range of $4.02 to $4.07 per share.

PerkinElmer shares have increased 21% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. In the final minutes of trading on Monday, shares hit $95.34, a climb of 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKI at https://www.zacks.com/ap/PKI

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