WASHINGTON (dpa-AFX) - (Adds Outlook)
PerkinElmer (PKI) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings totaled $137.658 million, or $1.09 per share. This compares with $190.184 million, or $1.50 per share, in last year's fourth quarter.
Excluding items, PerkinElmer reported adjusted earnings of $1.70 per share for the period.
Analysts on average had expected the company to earn $1.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 27.8% to $741.214 million from $1.027 billion last year.
Outlook:
Looking ahead, for 2023, the company expects to post adjusted earnings per share of $5.05, on revenue of $2.94 billion. Analysts, on average, polled by Thomson Reuters forecast the firm to earn income of $5.86 per share, on revenue of $3.58 billion, for the year.
PerkinElmer Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $137.658 Mln. vs. $190.184 Mln. last year. -EPS (Q4): $1.09 vs. $1.50 last year. -Analyst Estimates: $1.62 -Revenue (Q4): $741.214 Mln vs. $1.027 Bln last year.
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