Supported in part by the positive effects of foreign currency conversions and several recent acquisitions, PerkinElmer Inc. (NYSE:PKI) generated a $24.4 million net profit, or 21 cents per share, on $465.1 million in revenues during the three months ended April 4.
Adjusted net earnings for the Waltham, Mass.-based maker of diagnostics and research tools were $55.6 million, or 31 cents per share, beating consensus analyst opinion by 2 cents. Wall Street analysts often do not include certain expenses such as amortization or purchase accounting adjustments in their earnings forecasts if they are considered one-time events or not part of a company’s regular operations.
PerkinElmer reported adjusted earnings of $48 million on $435.2 million in sales during the first quarter of 2009. Net earnings in the year-ago quarter were 9 cents per share.
The company said first-quarter revenues for its human health segment were $188.6 million, up about 6.3 percent from the $177.3 million in segment revenues reported last year. The unit, which produces genetic screening and bio-discovery instruments, increased its operating profit to $21.8 million, up from $12.7 million a year ago.