Biotech Values

[DewDiligence]

PKI posts solid quarter on growth in emerging markets:

http://www.reuters.com/article/2012/08/02/perkinelmer-results-idUSL2E8J2EYS20120802

PerkinElmer Inc reported higher-than-expected second quarter profit on Thursday as solid demand for its scientific and environmental products in the United States and emerging markets offset declines in Europe.

Bucking a trend seen with some of its peers that had to pull back on full-year forecasts, PerkinElmer maintained its 2012 outlook for [non-GAAP] earnings of $2.00 to $2.05 per share…and for organic revenue growth [i.e. excluding acquisitions and currency effects] in mid-single digit range.

…[Non-GAAP], the company earned 53 cents per share, topping analysts' average expectations by 4 cents, according to Thomson Reuters I/B/E/S.

…sales in the Americas grew by mid-single digits and…revenue from China was up by more than 20 percent.

"I think we will continue to see decent growth in the Americas, and of course in the emerging markets, which represented about 28% of revenue and contributed about half of organic growth," [CEO Rovert Friel] said, adding that South America, particularly Brazil, continued to be quite strong.

"Those countries are really focused on environmental concerns and improving healthcare, and we can help them there."