Perkin Elmer declared its results for the quarter ended December 2011. Investors were positive on the results of the company and the shares prices went up 7 percent on results of impressive results. The company is focused on improving the quality of living for people. The Company reported a GAAP loss per share from continuing operations of $0.75, as compared to earnings per share of $0.37 in the fourth quarter of 2010. On a non-GAAP basis, which includes the adjustments noted in the attached reconciliation, the Company announced adjusted earnings per share of $0.62, representing an increase of 38% as compared to the fourth quarter of 2010.
Commenting on impressive results CEO Robert Friel stated that “Our excellent fourth quarter financial results complete a terrific year for PerkinElmer, with strong growth in revenue, adjusted earnings per share and cash flow. The progress we made in 2011, both operationally and strategically, better positions us to make a dramatic impact on human and environmental health while continuing to deliver strong financial returns,”
The company is also positive on the future revenue of the company. The company organic growth vertical contributed to the impressive results for the company. the Company forecasts GAAP earnings per share from continuing operations in the range of $1.22 to $1.28 and on a non-GAAP basis, which is expected to include the adjustments noted in the attached reconciliation, adjusted earnings per share in the range of $1.98 to $2.04.
We are buoyant on the company’s future growth amidst impressive revenue stream of the company. We maintain a buy on the scrip for the near term. Investors can utilize any downtrend in the scrip to add further weights.