PerkinElmer Inc. (PKI) weighed in with fourth-quarter results that topped expectations and gave 2010 guidance that was in-line with the Street’s view.
The health and safety product provider projected earnings from continuing operations between 98 cents and $1.05 a share, with adjusted earnings per share ranging between $1.35 and $1.42 a share. The company also said it expects “low to mid single digit” improvement in fiscal 2010 revenue compared to fiscal 2009. Analysts polled by Thomson Reuters were expecting 2010 earnings of $1.38 per share on revenue of $1.89 billion.
For the fourth quarter, the company saw profit of $39.9 million or 34 cents a share, up from $30.7 million or 26 cents a share one year ago. Adjusted earnings fell to 43 cents a share from 46 in the year-ago quarter.
Revenue slipped slightly to $498.3 million, compared to revenue of $499.9 million one year ago.
Analysts had projected earnings of 41 cents a share on revenue of $479 million.
Shares of PerkinElmer fell 86 cents or 4.16% in Thursday’s session to close at $19.82 a share. The stock was inactive in trading after market hours.