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PerkinElmer spooked into lowering full-year earnings forecast

This article was originally published in Clinica

Executive Summary

PerkinElmer’s third quarter results came in slightly above analysts’ expectations, with its profit boosted by a lower tax rate, according to Jefferies’ Brandon Couillard. However, this did not stop the company narrowing its adjusted earnings guidance for full-year 2013 to $2.04-2.07 per share, the lower end of its previous range of $2.03-2.10. The firm had already lowered its EPS prediction from $2.24-2.32 earlier this year (www.clinica.co.uk, 29 April 2013). Full-year revenue guidance is unchanged, with low-single-digit organic growth anticipated.

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