PerkinElmer Announces Financial Results For The First Quarter Of 2017
Published: May 05, 2017
WALTHAM, Mass.--(BUSINESS WIRE)--PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, today reported financial results for the first quarter ended April 2, 2017.
The Company reported GAAP earnings per share from continuing operations of $0.33, as compared to $0.38 in the first quarter of 2016. GAAP revenue in the first quarter of 2017 was $514.1 million, as compared to $498.0 million in the first quarter of 2016. GAAP operating income from continuing operations for the first quarter of 2017 was $51.6 million, as compared to $60.6 million in the first quarter of 2016.
Adjusted earnings per share was $0.55, as compared to $0.50 in the first quarter of 2016. Adjusted revenue for the quarter was $514.3 million, as compared to $498.2 million in the first quarter of 2016. Adjusted operating income for the first quarter of 2017 was $84.1 million, as compared to $81.2 million for the same period a year ago. Adjusted operating profit margin was 16.3% as a percentage of adjusted revenue, flat as compared to the same period a year ago. Adjustments for the Company's non-GAAP financial measures have been noted in the attached reconciliations.
"We are encouraged by our first quarter performance as we continue to see the benefits from our investments in new product innovations and better operational execution,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “We believe these efforts coupled with our leading positions in attractive market segments will allow us to deliver on our commitments in 2017 and beyond.”