WASHINGTON (dpa-AFX) - (Adds Outlook)
Looking ahead, for the full year, Revvity, Inc. (RVTY) has reaffirmed its earnings outlook in line with estimates, and revised down revenue expectations.
The company still expects adjusted income per share of $4.55 to $4.75, in line with analysts' estimate of $4.65 per share. To reflect recent changes in foreign currency exchange rates, the biotech firm now expects annual revenue of $2.76 billion to $2.82 billion versus its previous outlook of $2.79 billion to $2.85 billion. Analysts, on average, expect the firm to report annual revenue of $2.82 billion.
Q1 Results:
Revvity released a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $26.013 million, or $0.21 per share. This compares with $569.475 million, or $4.50 per share, in last year's first quarter.
Excluding items, Revvity, Inc. reported adjusted earnings of $0.98 per share for the period.
Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 3.7% to $649.920 million from $674.865 million last year.
Revvity, Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $26.013 Mln. vs. $569.475 Mln. last year. -EPS (Q1): $0.21 vs. $4.50 last year. -Revenue (Q1): $649.920 Mln vs. $674.865 Mln last year.
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