PerkinElmer Revenues Grow 4%
News Feb 03, 2014
The Company reported GAAP earnings per share from continuing operations of $0.58, compared to a loss of $0.14 in the fourth quarter of 2012. Revenue in the fourth quarter of 2013 was $593.3 million, as compared to $572.9 million in the fourth quarter of 2012. GAAP operating income from continuing operations for the fourth quarter of 2013 was$84.7 million, as compared to an operating loss of $30.8 million in the fourth quarter of 2012, impacted by non-cash charges and other adjustments noted in the Company's reconciliations of non-GAAP financial measures.
Adjusted earnings per share was $0.73, compared to $0.65 in the fourth quarter of 2012. Adjusted revenue for the quarter grew 3% to $594.0 million, compared to $577.0 million in the fourth quarter of 2012. Adjusted operating income for the fourth quarter of 2013 was $114.1 million, compared to $105.6 million for the same period a year ago. Adjusted operating profit margin was 19.2% as a percentage of adjusted revenue, compared to 18.3% for the same period a year ago. Adjustments for the Company's non-GAAP financial measures have been noted in the attached reconciliations.
"We are pleased with our strong finish to the year as we delivered solid performances in adjusted earnings per share growth, adjusted operating margin expansion and operating cash flow generation, " said Robert Friel, chairman and chief executive officer of PerkinElmer. "By leveraging our recent growth and productivity investments, we are well positioned to deliver a year of profitable revenue growth while continuing to address the critical health and environmental needs of our customers throughout the world."