Exhibit 99.1
PerkinElmer Announces Q2 2006 Results
BOSTON--(BUSINESS WIRE)--July 27, 2006--PerkinElmer, Inc. (NYSE:
PKI):
-- EPS from Continuing Ops of $.21; Cash EPS of $.26, up 30%
-- Completes Screening, Diagnostics and Service Acquisitions
-- Accelerating Investment in Growth Platforms
PerkinElmer, Inc. (NYSE: PKI), a global leader in Health Sciences
and Photonics markets, today reported GAAP earnings per share from
continuing operations of $.21 on revenue of $377.0 million for the
second quarter ended July 2, 2006. The second quarter 2006 results
include intangibles amortization of $7.8 million, or approximately
$.04 per share, and stock option expense of $2.1 million, or $.01 per
share. The Company announced earnings per share from continuing
operations excluding intangibles amortization, stock option expense
and a restructuring reversal of $.26, which represents an increase of
30% over the second quarter of 2005 and met the Thomson First Call(TM)
consensus earnings per share estimate.
Second quarter 2006 revenue of $377.0 million increased 2% over
the second quarter of 2005. Revenue growth was 3% in Life and
Analytical Sciences and 1% in Optoelectronics compared to the same
period last year. Second quarter 2006 revenue from Health Sciences end
markets, representing 83% of total revenues for the quarter, increased
3% over the same period of 2005, while second quarter revenue from
Photonics end markets increased 1% over the same period.
Recently, the Company completed three acquisitions in the priority
growth areas of screening, diagnostics and service. Within screening
and diagnostics, the Company acquired the business and associated
intellectual property of NTD Laboratories and Spectral Genomics. NTD
Laboratories is a leading provider of first-trimester prenatal risk
assessment, while Spectral Genomics is a leader in molecular
karyotyping technology used to research chromosomal abnormalities. NTD
Laboratories and Spectral Genomics provide additional technology and a
broader platform to drive the Company's high growth screening and
diagnostics strategies. Within service, the Company acquired Clinical
& Analytical Services Solutions(C&A), an asset management firm that
the Company expects will allow it to drive laboratory efficiency and
cost savings for customers through asset management and expert
maintenance.
"We were pleased to deliver excellent cash EPS growth during the
quarter, with strong performance in our key growth platforms of
genetic screening, imaging and service," said Gregory L. Summe,
chairman and CEO of the Company. "We remain focused on driving growth
in these platforms as evidenced by our strategic acquisitions of NTD
Laboratories, Spectral Genomics and C&A as well as our increased
investment in R&D. We are committed to further increasing our
investment in these attractive growth areas," added Summe.
GAAP operating profit during the second quarter of 2006 was $35.7
million, while GAAP operating margin for the same period was 9.5%.
Second quarter 2006 operating profit excluding intangibles
amortization of $7.8 million, stock option expense of $2.1 million and
a restructuring reversal of $.3 million was $45.3 million, or 12.0% as
a percentage of revenue for the quarter, representing an increase of
30 basis points compared to the same period of last year.
The Company generated operating cash flows of $53.2 million in the
second quarter of 2006. Free cash flow for the second quarter of 2006,
defined as operating cash flow of $53.2 million less capital
expenditures of $12.2 million, was $41.0 million. This number includes
a tax payment of $4.6 million related to the gain on the divestiture
of Fluid Sciences. Free cash flow, net of divestiture taxes, was $45.6
million.
Financial Overview by Reporting Segment
Life and Analytical Sciences reported revenue of $278.5 million
for the second quarter of 2006, up 3% from revenue of $270.8 million
in the second quarter of 2005, driven primarily by revenue growth in
the Company's genetic screening and service businesses. Revenue growth
during the second quarter of 2006 excluding the effects of foreign
exchange and acquisitions was 2%.
The segment's GAAP operating profit for the second quarter of 2006
was $25.3 million versus $15.7 million for the same period of 2005. As
a percentage of sales, GAAP operating profit for the second quarter of
2006 was up 330 basis points. Operating profit excluding intangibles
amortization, stock option expense and restructuring charges for the
second quarter of 2006 was $34.3 million, or 12.3% as a percentage of
revenue.
Optoelectronics reported revenue of $98.5 million for the second
quarter of 2006, up 1% from revenue of $97.2 million in the second
quarter of 2005, driven primarily by revenue growth in imaging
partially offset by a decline in specialty lighting and sensors
revenue. There was no material revenue impact from foreign exchange.
The segment's GAAP operating profit was $17.4 million for the
second quarter of 2006, versus $12.9 million for the comparable period
of 2005. As a percentage of sales, GAAP operating profit for the
second quarter of 2006 was 17.6%, an increase of 440 basis points. The
segment's operating profit excluding intangibles amortization, stock
option expense and a restructuring reversal for the second quarter of
2006 was $17.0 million, or 17.3% as a percentage of revenue.
Financial Guidance
For the third quarter of 2006, the Company projects GAAP earnings
per share from continuing operations of between $.22 and $.24.
Excluding the impact of intangibles amortization and stock option
expense, the Company projects earnings per share from continuing
operations of between $.27 and $.29 for the third quarter of 2006, an
increase of approximately 13% to 21% over the third quarter 2005. For
the full year 2006, the Company projects GAAP earnings per share from
continuing operations of between $.95 and $1.00, and earnings per
share excluding intangibles amortization and stock option expense, of
between $1.15 and $1.20 per share. This reflects approximately $.05
per share change in full year cash EPS guidance due to dilution from
acquisitions and increased growth investments in the second half of
2006.
The Company will discuss its second quarter results in a
conference call on July 27, 2006, at 5:00 p.m. Eastern Time (ET). To
listen to the call live, please tune into the webcast at the "Investor
Corner" section of our website, www.perkinelmer.com. A playback of
this conference call will be available beginning 7:00 p.m. ET,
Thursday, July 27, 2006. The playback phone number is 617-801-6888 and
the code number is 63608327.
Use of Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with
generally accepted accounting principles (GAAP), this press release
also contains non-GAAP financial measures of revenue, revenue growth,
operating profit, operating margin and earnings per share, in each
case excluding, where appropriate, the impact of foreign exchange, the
effects of acquisitions, intangibles amortization, restructuring
reversals, restructuring charges, stock option expense and tax
benefits.
-- When we refer in this press release to "revenue growth," other
than on a GAAP basis, we are excluding the effects of foreign
exchange and acquisitions on GAAP revenue.
-- When we refer in this press release to "operating profit,"
other than on a GAAP basis, we are excluding the amortization
of intangibles, stock option expense and restructuring charges
or reversals from GAAP operating margin.
-- When we refer in this press release to "operating margin,"
other than on a GAAP basis, we are excluding the amortization
of intangibles, stock option expense and restructuring charges
or reversals from GAAP operating margin.
-- When we refer to "earnings per share from continuing
operations," other than on a GAAP basis, we are excluding the
amortization of intangibles, stock option expense, a
restructuring reversal and, for 2005 adjustments, tax benefit
from GAAP earnings per share from continued operations.
We exclude the impact of foreign exchange, the effects of
acquisitions, intangibles amortization, restructuring reversals,
restructuring charges, stock option expense and tax benefit in
calculating these non-GAAP measures because such items are outside of
our ongoing core business operations.
We believe that the inclusion of these non-GAAP financial measures
in this press release helps investors to gain a meaningful
understanding of our core operating results and future prospects, and
can also help investors who wish to make comparisons between us and
other companies on both a GAAP and a non-GAAP basis, particularly with
respect to stock option expenses. Our management uses both GAAP
financial measures and non-GAAP financial measures to measure and
forecast our core operating performance and to compare that
performance to prior periods and to the performance of our
competitors. Both GAAP and non-GAAP measures are also used by
management in their financial and operating decision-making.
This press release also contains non-GAAP financial measures of
free cash flow and free cash flow, net of divestiture taxes.
-- We define free cash flow as our net cash provided by operating
activities minus our capital expenditures.
-- We define free cash flow, net of divestiture taxes, as free
cash flow minus tax payments related to the gain on
divestitures.
We use free cash flow, and ratios based on this measure, to
conduct and evaluate our business and, specifically, to determine
incentive compensation, to allocate resources to debt repayment and
for cash investing and financing activities. We use free cash flow,
net of divestiture taxes, to compare our period-over-period results
and our results to those of competitors, without the impact of a
non-recurring tax payment. Therefore, we believe that these measures
may be similarly useful and informative to investors.
The non-GAAP financial measures included in this press release are
not meant to be considered superior to or a substitute for results of
operations prepared in accordance with GAAP. In addition, the non-GAAP
financial measures included in this press release may be different
from, and therefore may not be comparable to, similar measures used by
other companies. Although certain non-GAAP financial measures used in
this release exclude the accounting treatment of stock option expense,
these non-GAAP measures should not be relied upon independently, as
they ignore the contribution to our operating results that is
generated by the incentive and compensation effects of the underlying
stock option programs. Reconciliations of the non-GAAP financial
measures used in this press release to the most directly comparable
GAAP financial measures are set forth in the text of, and the
accompanying exhibits to, this press release.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating to estimates and
projections of future earnings per share and revenue growth and other
financial results, developments relating to our customers and
end-markets, and plans concerning business development opportunities.
Words such as "believes," "intends," "anticipates," "plans,"
"expects," "projects," "forecasts," "will" and similar expressions,
and references to guidance, are intended to identify forward-looking
statements. Such statements are based on management's current
assumptions and expectations and no assurances can be given that our
assumptions or expectations will prove to be correct. A number of
important risk factors could cause actual results to differ materially
from the results described, implied or projected in any
forward-looking statements. These factors include, without limitation:
(1) our failure to introduce new products in a timely manner; (2) our
ability to execute acquisitions and license technologies, or to
successfully integrate acquired businesses and licensed technologies
into our existing business or to make them profitable; (3) our failure
to protect adequately our intellectual property; (4) the loss of any
of our licenses or licensed rights; (5) our ability to compete
effectively; (6) fluctuation in our quarterly operating results and
our ability to adjust our operations to address unexpected changes;
(7) our ability to produce an adequate quantity of products to meet
our customers' demands; (8) our failure to maintain compliance with
applicable government regulations; (9) regulatory changes; (10)
economic, political and other risks associated with foreign
operations; (11) our ability to retain key personnel; (12)
restrictions in our credit agreement; (13) our ability to realize the
full value of our intangible assets; and (14) other factors which we
describe under the caption "Risk Factors" in our most recent annual
report on Form 10-K and in our most recent quarterly report on Form
10-Q and in our other filings with the Securities and Exchange
Commission. We disclaim any intention or obligation to update any
forward-looking statements as a result of developments occurring after
the date of this press release.
Other Information
Health Sciences end markets include genetic screening,
environmental, service, biopharma, and medical imaging. Photonics
markets include sensors and specialty lighting.
PerkinElmer, Inc. is a global technology leader driving growth and
innovation in Health Sciences and Photonics markets to improve the
quality of life. The Company reported revenues of $1.5 billion in
2005, has 8,000 employees serving customers in more than 125
countries, and is a component of the S&P 500 Index. Additional
information is available through www.perkinelmer.com or
1-877-PKI-NYSE.
PerkinElmer, Inc. and Subsidiaries
CONSOLIDATED INCOME STATEMENTS
Three Months Ended Six Months Ended
-------------------- -------------------
(In thousands, except per July 2, July 3, July 2, July 3,
share data) 2006 2005 2006 2005
----------------------------- ---------------------------------------
Sales $377,001 $368,017 $732,455 $726,191
Cost of Sales 225,412 216,894 439,179 426,779
Research and Development
Expenses 25,036 22,082 47,878 44,673
In-Process Research and
Development Charge - - - 194
Selling, General and
Administrative Expenses 92,655 92,711 182,508 189,537
(Gains) Losses on
Dispositions (1,505) 397 (1,505) 397
Restructuring and
Integration (Reversals)
Charges, Net (290) 14,245 (290) 14,245
--------- --------- --------- ---------
Operating Income From
Continuing Operations 35,693 21,688 64,685 50,366
Extinguishment of Debt - 6,210 - 6,210
Interest Income (2,363) (620) (5,735) (1,289)
Interest Expense 2,232 7,500 4,537 15,576
Gains on Dispositions of
Investments, Net (667) (5,444) (933) (5,444)
Other Expense (Income), Net 2,612 (201) 3,772 451
--------- --------- --------- ---------
Income From Continuing
Operations Before Income
Taxes 33,879 14,243 63,044 34,862
Provision for (Benefit From)
Income Taxes 7,559 (16,319) 14,704 (11,302)
--------- --------- --------- ---------
Net Income From Continuing
Operations 26,320 30,562 48,340 46,164
(Loss) Income From
Discontinued Operations, Net
of Income Taxes (582) 3,138 (1,025) 7,288
(Loss) Gain on Disposition of
Discontinued Operations, Net
of Income Taxes (1,253) (4,802) 787 (4,725)
--------- --------- --------- ---------
Net Income $24,485 $28,898 $48,102 $48,727
========= ========= ========= =========
Diluted Earnings (Loss) Per
Share:
Continuing Operations $0.21 $0.23 $0.38 $0.35
(Loss) Income From
Discontinued Operations, Net
of Income Taxes - 0.02 (0.01) 0.06
(Loss) Gain on Disposition of
Discontinued Operations, Net
of Income Taxes (0.01) (0.04) 0.01 (0.04)
--------- --------- --------- ---------
Net Income $0.19 $0.22 $0.37 $0.37
========= ========= ========= =========
Weighted Average Diluted
Shares of Common Stock
Outstanding 127,401 130,718 128,558 130,887
ABOVE PREPARED IN ACCORDANCE
WITH GAAP
- ---------------------------------------------------
Additional Supplemental
Information:
(per share, continuing
operations)
GAAP Diluted EPS from
Continuing Operations $0.21 $0.23
Amortization of Intangible
Assets, Net of Income Taxes 0.04 0.04
Stock Options, Net of Tax 0.01 -
Restructuring and Integration
(Reversals) Charges, Net of
Income Taxes 0.00 0.08
Tax Expense (Benefit) - (0.15)
--------- ---------
Continuing Operations EPS
excluding above items $0.26 $0.20
========= =========
PerkinElmer, Inc. and Subsidiaries
SALES AND OPERATING PROFIT (LOSS)
Three Months Ended Six Months Ended
------------------ ------------------
(In thousands) July 2, July 3, July 2, July 3,
2006 2005 2006 2005
- ---------------- ------------------- ------------------
Life and Sales $278,462 $270,778 $540,391 $535,551
Analytical OP$ reported 25,305 15,667 49,095 37,625
Sciences OP% reported 9.1% 5.8% 9.1% 7.0%
Amortization
expense 7,129 6,539 13,892 13,114
Stock option
expense 748 - 1,357 -
Restructuring
charges 1,109 11,035 1,109 11,035
OP$ adjusted 34,291 33,241 65,453 61,774
OP% adjusted 12.3% 12.3% 12.1% 11.5%
Opto-
electronics Sales 98,539 97,239 192,064 190,640
OP$ reported 17,365 12,872 30,112 26,374
OP% reported 17.6% 13.2% 15.7% 13.8%
Amortization
expense(a) 637 630 1,259 1,349
Stock option
expense 412 - 687 -
Restructuring
charges (1,399) 3,210 (1,399) 3,210
OP$ adjusted 17,015 16,712 30,659 30,933
OP% adjusted 17.3% 17.2% 16.0% 16.2%
Other OP$ reported (6,977) (6,851) (14,522) (13,633)
Stock option
expense 933 - 1,699 -
OP$ adjusted (6,044) (6,851) (12,823) (13,633)
Continuing Sales $377,001 $368,017 $732,455 $726,191
Operations OP$ reported 35,693 21,688 64,685 50,366
OP% reported 9.5% 5.9% 8.8% 6.9%
Amortization
expense(a) 7,766 7,169 15,151 14,463
Stock option
expense 2,093 - 3,743 -
Restructuring
charges (290) 14,245 (290) 14,245
-------- -------- -------- --------
OP$ adjusted $ 45,262 $ 43,102 $ 83,289 $ 79,074
======== ======== ======== ========
OP% adjusted 12.0% 11.7% 11.4% 10.9%
(a) Includes In-Process Research and Development Charge in the amount
of $194 in Q1 2005.
SALES AND REPORTED OPERATING PROFIT PREPARED IN ACCORDANCE WITH GAAP
PerkinElmer, Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS
July 2, January 1, July 3,
2006 2006 2005
----------- ----------- -----------
(In thousands)
Current assets:
Cash and cash equivalents $323,755 $502,264 $158,733
Accounts receivable, net 233,449 250,844 239,294
Inventories 173,658 163,150 166,383
Other current assets 76,707 71,189 72,037
Current assets of discontinued
operations 854 11,442 59,596
----------- ----------- -----------
Total current assets 808,423 998,889 696,043
Property, plant and equipment:
At cost 507,642 484,453 489,208
Accumulated depreciation (327,931) (307,084) (303,320)
----------- ----------- -----------
Net property, plant and equipment 179,711 177,369 185,888
Marketable securities and
investments 9,674 9,222 9,220
Intangible assets, net 379,038 375,419 385,983
Goodwill 1,068,858 1,026,201 1,027,855
Other assets 86,351 90,156 99,356
Long-term assets of discontinued
operations 1,455 16,205 88,081
----------- ----------- -----------
Total assets $2,533,510 $2,693,461 $2,492,426
=========== =========== ===========
Current liabilities:
Short-term debt $1,090 $1,131 $5,887
Accounts payable 130,014 146,971 124,365
Accrued restructuring and
integration costs 9,797 11,242 14,538
Accrued expenses 275,499 324,954 268,480
Current liabilities of discontinued
operations 998 10,241 57,168
----------- ----------- -----------
Total current liabilities 417,398 494,539 470,438
Long-term debt 199,187 243,282 268,334
Long-term liabilities 315,948 303,687 283,934
Long-term liabilities of
discontinued operations - 1,440 12,019
----------- ----------- -----------
Total liabilities 932,533 1,042,948 1,034,725
Commitments and contingencies
Total stockholders' equity 1,600,977 1,650,513 1,457,701
----------- ----------- -----------
Total liabilities and stockholders'
equity $2,533,510 $2,693,461 $2,492,426
=========== =========== ===========
PREPARED IN ACCORDANCE WITH GAAP
PerkinElmer, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended Six Months Ended
------------------- -------------------
July 2, July 3, July 2, July 3,
2006 2005 2006 2005
-------------------- -------------------
(In thousands)
Operating Activities:
Net income $24,485 $28,898 $48,102 $48,727
Loss (income) from
discontinued operations,
net of income taxes 582 (3,138) 1,025 (7,288)
Loss (gain) on disposition
of discontinued operations,
net of income taxes 1,253 4,802 (787) 4,725
--------- --------- --------- ---------
Net income from continuing
operations 26,320 30,562 48,340 46,164
--------- --------- --------- ---------
Adjustments to reconcile net
income from continuing
operations to net cash
provided by continuing
operations:
Stock-based compensation 4,475 4,087 7,316 5,008
Amortization of debt
discount and issuance
costs 73 2,903 143 3,721
Depreciation and
amortization 16,928 16,968 33,406 34,280
In-process research and
development - - - 194
Gains on dispositions
and sales of investments,
net (3,571) (5,047) (3,837) (5,047)
Changes in operating assets
and liabilities:
Accounts receivable 9,618 6,402 27,842 4,171
Inventories 854 3,969 (6,519) (2,333)
Accounts payable (9,049) 2,263 (21,260) (166)
Accrued restructuring
and integration costs 285 12,551 (1,812) 11,493
Taxes paid on
divestitures (4,601) - (59,151) -
Accrued expenses and
other 12,200 8,832 (8,049) (6,556)
--------- --------- --------- ---------
Net Cash Provided by
Continuing Operations 53,532 83,490 16,419 90,929
--------- --------- --------- ---------
Net Cash (Used in) Provided by
Discontinued Operations (291) 3,325 (871) 9,381
--------- --------- --------- ---------
Net Cash Provided by Operating
Activities 53,241 86,815 15,548 100,310
--------- --------- --------- ---------
Investing Activities:
Capital expenditures (12,210) (5,940) (21,448) (9,604)
Proceeds from disposition of
property, plant and
equipment, net 7,085 5,936 7,085 6,258
Proceeds from settlement of
life insurance policies 2,327 - 2,327 -
(Cash used) proceeds from
disposition or settlement
of business, net (1,672) 6,306 19,529 6,556
Cash used related to
acquisitions, net of cash
acquired (29,616) - (38,312) (13,138)
--------- --------- --------- ---------
Net Cash (Used in) Provided by
Continuing Operations (34,086) 6,302 (30,819) (9,928)
--------- --------- --------- ---------
Net Cash Used in Discontinued
Operations - (1,079) - (1,945)
--------- --------- --------- ---------
Net Cash (Used in) Provided by
Investing Activities (34,086) 5,223 (30,819) (11,873)
--------- --------- --------- ---------
Financing Activities:
Principal payments on debt (16,831) (34,125) (56,565) (34,125)
Prepayment of term loan debt - (69,825) - (70,000)
Payment of debt issuance and
tender costs - - (741) -
Tax benefit from exercise of
common stock options - - 3,785 -
Decrease in other credit
facilities (653) (707) (757) (950)
Proceeds from issuance of
common stock for employee
benefit plans 2,316 1,333 17,145 3,976
Purchase of stock - - (116,393) -
Cash dividends (8,858) (9,073) (17,974) (18,110)
--------- --------- --------- ---------
Net Cash Used in Financing
Activities (24,026) (112,397) (171,500) (119,209)
--------- --------- --------- ---------
Effect of Exchange Rate
Changes on Cash and Cash
Equivalents 6,785 (5,121) 8,262 (8,008)
--------- --------- --------- ---------
Net Increase (Decrease) in
Cash and Cash Equivalents 1,914 (25,480) (178,509) (38,780)
Cash and Cash Equivalents at
Beginning of Period 321,841 184,213 502,264 197,513
--------- --------- --------- ---------
Cash and Cash Equivalents at
End of Period $323,755 $158,733 $323,755 $158,733
========= ========= ========= =========
PREPARED IN ACCORDANCE WITH GAAP
PerkinElmer, Inc. and Subsidiaries
Reconciliation of GAAP to non-GAAP financial measures.
PKI LAS Opto
Adjusted Operating Q206 Q205 Q206 Q205 Q206 Q205
Profit:
GAAP Operating
Profit $35.7 $21.7 $25.3 $15.7 $17.4 $12.9
Intangibles
Amortization 7.8 7.2 7.1 6.5 0.6 0.6
Stock Option Expense 2.1 - 0.7 - 0.4 -
Restructuring
(Reversal)Expense (0.3) 14.2 1.1 11.0 (1.4) 3.2
------------ ------------ --------------------
Adjusted Operating
Profit: $45.3 $43.1 $34.3 $33.2 $17.0 $16.7
============ ============ ====================
PKI LAS Opto
Adjusted OP Margin: Q206 Q205 Q206 Q205 Q206 Q205
GAAP Operating Margin 9.5% 5.9% 9.1% 5.8% 17.6% 13.2%
Intangibles
Amortization 2.1% 1.9% 2.6% 2.4% 0.6% 0.6%
Stock Option Expense 0.6% 0.0% 0.3% 0.0% 0.4% 0.0%
Restructuring
(Reversal) Expense -0.1% 3.9% 0.4% 4.1% -1.4% 3.3%
------------ ------------ --------------------
Adjusted Operating
Margin 12.0% 11.7% 12.3% 12.3% 17.3% 17.2%
============ ============ ====================
PKI PKI
Cash EPS: Q206 Q205 FY2006 FY2005
GAAP EPS $0.19 $0.22 $0.95 - $1.00 $2.04
Discontinued
Operations 0.01 0.01 - (1.54)
------------ --------------------
GAAP EPS from
Continuing Operations 0.21 0.23 0.95 - 1.00 0.51
Intangibles
Amortization 0.04 0.04 0.16 0.14
Stock Option Expense 0.01 - 0.04 -
Restructuring
(Reversal)Expense - 0.08 - 0.12
Tax Expense (Benefit) - (0.15) - (0.08)
Extinguishment of Debt - - - 0.26
------------ --------------------
Cash EPS $0.26 $0.20 $1.15 - $1.20 $0.95
============ ====================
Free Cash Flow Q206
GAAP Net Cash from
Operations $53.2
Capital Expenditures (12.2)
------
Free Cash Flow 41.0
Divestiture Taxes 4.6
------
Free Cash Flow net of
Divestiture Taxes $45.6
======
Q2 2006
Adjusted Revenue LAS Opto PKI
Growth:
Reported Revenue
Growth 3% 1% 2%
Foreign Exchange -1% 0% 0%
Acquisitions 0% 0% 0%
---------------
Adjusted Revenue
Growth 2% 1% 2%
===============
CONTACT: PerkinElmer, Inc.
Investor Relations:
Steven Delahunt, 781-431-4258
or
Media:
Kevin Lorenc, 781-431-4231