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Perkinelmer, Inc. Announced Revenue of $387.7 Million For the Fourth Quarter

Feb 14 2006 Comments 0

PerkinElmer, Inc. announced revenue of $387.7 million for the fourth quarter ended January 1, 2006, compared to $411.6 million for the fourth quarter 2004.
Full year 2005 revenue of $1.47 billion increased 3% over 2004 driven primarily by sales growth in medical imaging and genetic screening. Due to the timing of the fiscal calendar, the fourth quarter of 2004 included an additional week. Adjusting for the impact of foreign exchange, acquisitions and an average week\'s sales in the prior fiscal period, annual revenue increased 4% over 2004. Fourth quarter 2005 revenue of $387.7 million decreased 6% over the fourth quarter of 2004. Revenue in the fourth quarter 2005, excluding the impact of foreign exchange, acquisitions and the extra week, increased 4% over the fourth quarter of the prior year.
GAAP operating profit during the fourth quarter was $49.8 million. Excluding intangibles amortisation and restructuring charges, operating profit for the fourth quarter of 2005 was $64.4 million, or approximately 16.6% of revenue, up from 14.9% in the fourth quarter of 2004. This increase in fourth quarter 2005 adjusted operating margin was due primarily to an increase in operating margins of 190 basis points in Life and Analytical Sciences and a 40 basis point increase in Optoelectronics. The company also generated operating cash flow of $83.4 million in the fourth quarter of 2005, up 17% compared to operating cash flow of $71.0 million for the fourth quarter of 2004.
\"2005 was an excellent year for PerkinElmer. We made great progress on focusing our portfolio on the Health Sciences and Photonics markets, building a very strong financial capability and strengthening our growth platforms. In addition, we delivered significant increases in operating margin and EPS,\" said Gregory L. Summe, Chairman and CEO of the Company. \"We enter 2006 with a very strong balance sheet and operating momentum. Our focus this year will be to accelerate growth through continued operational improvement and increasing our investment in innovation.\"
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