PerkinElmer's fourth quarter financial results

PerkinElmer has reported its financial results for the fourth quarter of 2008. Revenue from continuing operations was $495.0 million, an increase of 3% versus the fourth quarter 2007. Both Life and Analytical Sciences and Optoelectronics had reported revenue growth of 3% and organic growth of 4% compared to the same period a year ago.

"Our strong fourth quarter performance finishes off a great year for PerkinElmer”, said Robert Friel, the company’s president and chief executive officer. “For 2008, our revenue growth, earnings per share and cash flow all met or exceeded our original full year guidance despite difficult economic conditions during the last four months of the year. For 2009, our focus will be on driving efficiency and productivity as well as investing in longer-term growth initiatives."

The GAAP operating profit from continuing operations for the fourth quarter 2008 was $71.7 million, compared to $49.4 million for the same period a year ago. GAAP earnings per share from continuing operations for the fourth quarter of 2008 was $0.29, compared to $0.44 for the same period in 2007 due to non-recurring items.

Life and Analytical Sciences reported revenue of $390.3 million for the fourth quarter 2008, up 3% from revenue of $379.3 million in the fourth quarter 2007. The segment's GAAP operating profit for the fourth quarter 2008 was $50.8 million, compared to $40.8 million for the same period a year ago.