Exhibit 99.1
PerkinElmer Announces Q4 2006 Results
-- Revenue Growth of 10%; Health Sciences up 12%
-- Cash Flow from Operations of $85M
-- Announced Euroscreen and Evotec acquisitions
BOSTON--(BUSINESS WIRE)--Jan. 25, 2007--PerkinElmer, Inc. (NYSE:
PKI), a global leader in Health Sciences and Photonics markets, today
reported GAAP earnings per share from continuing operations of $.33 on
revenue of $427.0 million for the fourth quarter ended December 31,
2006. On a non-GAAP basis, which includes the adjustments noted in the
income statement reconciliation, the Company announced earnings per
share for the fourth quarter 2006 of $.39, which met the First Call
consensus estimate and was in line with the Company's forecasted range
of $.38 to $.40.
Fourth quarter 2006 revenue of $427.0 million increased 10% over
the fourth quarter of 2005. Revenue growth was 12% in Life and
Analytical Sciences and 5% in Optoelectronics compared to the same
period last year. From an end market perspective, fourth quarter 2006
revenue from Health Sciences, which represented 85% of total revenues
for the quarter, increased 12% over the same period of 2005. This
increase was driven primarily by strong growth in the genetic
screening, medical imaging, environmental and service businesses, as
well as a positive impact from acquisitions and new product
introductions. Foreign exchange and acquisitions contributed 3% and
2%, respectively, to fourth quarter 2006 revenue. Full year 2006
revenue of $1.55 billion increased 5% over 2005 driven primarily by
sales growth in medical imaging, genetic screening and service.
"Our strong Q4 results reflect the increased growth momentum we
are generating through R&D and capital investments in our key growth
platforms. We also announced eight acquisitions during the year that
will help fuel our long-term growth," said Gregory L. Summe, Chairman
and CEO of the Company. "We expect to carry this momentum into 2007,
bringing an increased number of new products to market while
continuing to deliver strong financial results."
GAAP operating profit during the fourth quarter of 2006 was $52.2
million. On a non-GAAP basis, which includes the adjustments noted in
the attached reconciliation, fourth quarter 2006 operating profit was
$64.0 million, or 15.0% as a percentage of revenue for the quarter.
The Company generated cash flow from operations of $84.9 million
in the fourth quarter of 2006. For the full year 2006, cash flow from
operations was $127.3 million. This number includes tax payments of
$60.3 million related to the gain on the divestiture of Fluid
Sciences. Cash flow from operations, net of divestiture taxes, was
$187.6 million.
Financial Overview by Reporting Segment:
Life and Analytical Sciences reported revenue of $320.6 million
for the fourth quarter of 2006, up 12% from revenue of $286.5 million
in the fourth quarter of 2005, driven primarily by growth in the
Company's genetic screening, environmental and service businesses, as
well as a positive impact from acquisitions and new product
introductions.
The segment's GAAP operating profit for the fourth quarter of 2006
was $40.9 million. On a non-GAAP basis, which includes the adjustments
noted in the attached reconciliation, operating profit for the fourth
quarter of 2006 was $51.3 million, or 16.0% as a percentage of
revenue.
Optoelectronics reported revenue of $106.3 million for the fourth
quarter of 2006, up 5% from revenue of $101.2 million in the fourth
quarter of 2005, driven primarily by revenue growth in imaging.
The segment's GAAP operating profit was $19.8 million for the
fourth quarter of 2006. On a non-GAAP basis, which includes the
adjustments noted in the attached reconciliation, operating profit for
the fourth quarter of 2006 was $20.4 million or 19.2% as a percentage
of Optoelectronics revenue.
Financial Guidance
The Company projects revenue to increase in the high single to low
double digits for the full year 2007 and non-GAAP earnings per share
to grow in the low double digits to mid-teens. Looking ahead to the
first quarter of 2007, earnings per share, excluding intangibles
amortization and stock option expense, is projected to be $.23-$.25.
The Company will discuss its fourth quarter results in a
conference call on January 25, 2007 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, January 25, 2007. The playback phone number is (617)
801-6888 and the code number is 67623101.
Use of Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with
generally accepted accounting principles (GAAP), this earnings
announcement 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, stock option expense, impairment charges, restructuring
reversals and tax benefits.
-- When we refer in this earnings announcement to "operating
profit," other than on a GAAP basis, we are excluding the
amortization of intangibles, stock option expense, impairment
charges and restructuring charges or reversals from GAAP
operating margin.
-- When we refer in this earnings announcement to "operating
margin," other than on a GAAP basis, we are excluding the
amortization of intangibles, stock option expense, impairment
charges and restructuring charges or reversals from GAAP
operating margin.
-- When we refer to "non-GAAP earnings per share" or "specify
that earnings per share is "on a non-GAAP basis," we are
excluding the amortization of intangibles, stock option
expense, impairment charges, tax expenses or benefits, debt
extinguishment charges and restructuring charges or reversals
from GAAP earnings per share from continued operations.
-- When we refer to "cash flow from operations, net of
divestiture taxes," we are excluding tax benefits relating to
divestitures from GAAP cash flow from operations.
We exclude the impact of foreign exchange, the effects of
acquisitions, intangibles amortization, stock option expense,
impairment charges and restructuring charges or reversals 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 earnings announcement 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.
The non-GAAP financial measures included in this earnings
announcement 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 earnings
announcement 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 earnings announcement to the most directly comparable GAAP
financial measures are set forth in the text of, and the accompanying
exhibits to, this earnings announcement.
Factors Affecting Future Performance
This earnings announcement 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 earnings announcement.
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 $1.55 billion in
2006, 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
INCOME STATEMENTS
Three Months Ended Year Ended
------------------- -----------------------
(In thousands, except per
share data) 31-Dec-06 1-Jan-06 31-Dec-06 1-Jan-06
- -------------------------- --------- --------- ----------- -----------
Sales $426,986 $387,658 $1,546,358 $1,473,831
Cost of Sales 248,132 222,816 918,287 859,295
Research and Development
Expenses 27,079 21,022 99,719 87,371
In-Process Research and
Development Charge - - - 194
Selling, General and
Administrative Expenses 99,677 88,020 376,849 365,457
Gains on Dispositions,
Net - (1,438) (1,505) (1,502)
Impairment of Assets 3,246 - 3,246 -
Restructuring and
Integration (Reversals)
Charges, Net (3,350) 7,820 (3,640) 22,065
--------- --------- ----------- -----------
Operating Income From
Continuing Operations 52,202 49,418 153,402 140,951
Extinguishment of Debt - 48,676 - 54,886
Interest Income (1,736) (1,543) (9,390) (3,321)
Interest Expense 2,468 4,829 9,157 27,291
Gains on Dispositions of
Investments, Net (383) - (2,296) (5,844)
Other Expense, Net 899 777 5,195 1,279
--------- --------- ----------- -----------
Income (Loss) From
Continuing Operations
Before Income Taxes 50,954 (3,321) 150,736 66,660
Provision for Income
Taxes 9,885 2,780 32,412 128
--------- --------- ----------- -----------
Net Income (Loss) From
Continuing Operations 41,069 (6,101) 118,324 66,532
(Loss) Income From
Discontinued Operations,
Net of Income Taxes (149) 2,750 (1,174) 15,214
Gain on Disposition of
Discontinued Operations,
Net of Income Taxes 808 190,899 2,433 186,362
--------- --------- ----------- -----------
Net Income $ 41,728 $187,548 $ 119,583 $ 268,108
========= ========= =========== ===========
Diluted Earnings (Loss)
Per Share:
Continuing Operations $ 0.33 $ (0.05) $ 0.94 $ 0.51
(Loss) Income From
Discontinued Operations,
Net of Income Taxes - 0.02 (0.01) 0.12
Gain on Disposition of
Discontinued Operations,
Net of Income Taxes 0.01 1.47 0.02 1.42
--------- --------- ----------- -----------
Net Income $ 0.34 $ 1.45 $ 0.95 $ 2.04
========= ========= =========== ===========
Weighted Average Diluted
Shares of Common Stock
Outstanding 123,760 129,663 126,512 131,140
ABOVE PREPARED IN ACCORDANCE WITH GAAP
- -----------------------------------------------
Additional Supplemental
Information:
(per share, continuing
operations)
GAAP Diluted EPS from
Continuing Operations $ 0.33 $ (0.05)
Amortization of Intangible
Assets, Net of Income
Taxes 0.05 0.03
Stock Options, Net of
Income Taxes 0.01 -
Impairment of Assets, Net
of Income Taxes 0.02 -
Restructuring (Reversals)
Charges, Net of Income
Taxes (0.02) 0.04
Tax Expense - 0.07
Extinguishment of Debt,
Net of Income Taxes - 0.26
--------- ---------
Continuing Operations EPS
excluding Amortization of
Intangible Assets $ 0.39 $ 0.36
========= =========
PerkinElmer, Inc. and Subsidiaries
SALES AND OPERATING PROFIT (LOSS)
Three Months Ended Year Ended
------------------ ----------------------
December
31, January December January 1,
(In thousands) 2006 1, 2006 31, 2006 2006
- -------------- -------- -------- ---------- ----------
Life and
Analytical
Sciences Sales $320,644 $286,470 $1,144,562 $1,081,104
OP$ reported 40,943 45,886 115,372 110,228
OP% reported 12.8% 16.0% 10.1% 10.2%
Amortization
expense 8,986 6,576 31,288 26,219
Stock option
expense 906 - 3,231 -
Impairment
of assets 3,246 - 3,246 -
Restructuring
(reversals)
charges (2,820) 1,866 (1,711) 12,901
OP$ adjusted 51,261 54,328 151,426 149,348
OP% adjusted 16.0% 19.0% 13.2% 13.8%
Opto-
electronics Sales 106,342 101,188 401,796 392,727
OP$ reported 19,812 11,249 70,021 58,405
OP% reported 18.6% 11.1% 17.4% 14.9%
Amortization
expense* 644 633 2,544 2,600
Stock option
expense 470 - 1,573 -
Impairment
of assets - - - -
Restructuring
(reversals)
charges (530) 5,954 (1,929) 9,164
OP$ adjusted 20,396 17,836 72,209 70,169
OP% adjusted 19.2% 17.6% 18.0% 17.9%
Other OP$ reported (8,553) (7,717) (31,991) (27,682)
Stock option
expense 867 - 4,267 -
OP$ adjusted (7,686) (7,717) (27,724) (27,682)
Continuing
Operations Sales $426,986 $387,658 $1,546,358 $1,473,831
OP$ reported 52,202 49,418 153,402 140,951
OP% reported 12.2% 12.7% 9.9% 9.6%
Amortization
expense* 9,630 7,209 33,832 28,819
Stock option
expense 2,243 - 9,071 -
Impairment
of assets 3,246 - 3,246 -
Restructuring
(reversals)
charges (3,350) 7,820 (3,640) 22,065
-------- -------- ---------- ----------
OP$ adjusted $ 63,971 $ 64,447 $ 195,911 $ 191,835
======== ======== ========== ==========
OP% adjusted 15.0% 16.6% 12.7% 13.0%
* 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
December 31, 2006 October 1, 2006 January 1, 2006
----------------- --------------- ---------------
(In thousands)
Current assets:
Cash and cash
equivalents $191,059 $207,074 $502,264
Accounts receivable,
net 267,703 253,189 250,844
Inventories 183,260 182,124 163,150
Other current assets 100,857 72,745 71,189
Current assets of
discontinued
operations 477 1,090 11,442
----------------- --------------- ---------------
Total current assets 743,356 716,222 998,889
Property, plant and
equipment:
At cost 524,134 517,611 484,453
Accumulated
depreciation (342,938) (336,026) (307,084)
----------------- --------------- ---------------
Net property, plant
and equipment 181,196 181,585 177,369
Marketable securities
and investments 7,508 7,531 9,222
Intangible assets,
net 404,021 410,417 375,419
Goodwill 1,117,724 1,103,352 1,026,201
Other assets 53,156 80,028 90,156
Long-term assets of
discontinued
operations 1,605 1,654 16,205
----------------- --------------- ---------------
Total assets $2,508,566 $2,500,789 $2,693,461
================= =============== ===============
Current liabilities:
Short-term debt $1,153 $1,142 $1,131
Accounts payable 152,080 142,644 146,971
Accrued restructuring
and integration
costs 2,731 8,607 11,242
Accrued expenses 310,726 278,969 324,954
Current liabilities
of discontinued
operations 826 909 10,241
----------------- --------------- ---------------
Total current
liabilities 467,516 432,271 494,539
Long-term debt 151,781 201,133 243,282
Long-term liabilities 311,539 310,738 303,687
Long-term liabilities
of discontinued
operations - - 1,440
----------------- --------------- ---------------
Total liabilities 930,836 944,142 1,042,948
Commitments and
contingencies
Total stockholders'
equity 1,577,730 1,556,647 1,650,513
----------------- --------------- ---------------
Total liabilities and
stockholders' equity $2,508,566 $2,500,789 $2,693,461
================= =============== ===============
PREPARED IN ACCORDANCE WITH GAAP
PerkinElmer, Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended Year Ended
--------------------- -------------------
December January December January
31, 2006 1, 2006 31, 2006 1, 2006
--------------------- --------- ---------
(In thousands)
Operating activities:
Net income $41,728 $187,548 $119,583 $268,108
Add: Loss (income) from
discontinued operations,
net of income taxes 149 (2,750) 1,174 (15,214)
Add: Gain on disposition
of discontinued
operations, net of income
taxes (808) (190,899) (2,433) (186,362)
----------- --------- --------- ---------
Net income (loss) from
continuing operations 41,069 (6,101) 118,324 66,532
----------- --------- --------- ---------
Adjustments to reconcile net
income (loss) from
continuing operations to
net cash provided by
continuing operations:
Stock-based compensation 5,515 4,198 16,144 9,825
Restructuring and
integration (reversals)
charges, net (3,350) 7,820 (3,640) 22,065
Amortization of debt
discount and issuance
costs 74 48,879 292 57,385
Depreciation and
amortization 18,247 15,881 69,184 66,998
Resolution of prior year
tax contingencies - - 55 (27,772)
Gains on dispositions,
net (383) (1,438) (3,801) (7,346)
Asset impairment 3,246 - 3,246 -
Changes in operating assets
and liabilities:
Accounts receivable (8,901) (7,776) 4,071 (10,434)
Inventories 2,196 1,863 (11,067) (323)
Accounts payable 7,550 20,432 (2,427) 23,242
Taxes paid on
divestitures (301) - (60,297) -
Tax benefit from
exercise of common
stock options - 5,343 - 5,343
Accrued expenses and
other 18,688 (6,032) (3,220) (12,579)
----------- --------- --------- ---------
Net cash provided by
continuing operations 83,650 83,069 126,864 192,936
----------- --------- --------- ---------
Net cash provided by
discontinued operations 1,282 1,506 419 15,157
----------- --------- --------- ---------
Net cash provided by
operating activities 84,932 84,575 127,283 208,093
----------- --------- --------- ---------
Investing activities:
Capital expenditures (13,474) (11,794) (44,473) (27,993)
Proceeds from advance and
settlement of insurance
claim 3,100 2,942 5,309 2,942
Proceeds from disposition
of property, plant and
equipment, net - - 4,876 9,393
Proceeds from settlement
of life insurance
policies 72 - 3,826 -
Proceeds from disposition
of investments, net 383 359,622 23,627 366,578
Cash used related to
acquisitions, net of cash
acquired (35,395) (2,683) (132,971) (17,571)
----------- --------- --------- ---------
Net cash (used in) provided
by continuing operations (45,314) 348,087 (139,806) 333,349
----------- --------- --------- ---------
Net cash (used in) provided
by discontinued operations - (513) 467 (10,060)
----------- --------- --------- ---------
Net cash (used in) provided
by investing activities (45,314) 347,574 (139,339) 323,289
----------- --------- --------- ---------
Financing Activities:
Payments on debt (53,513) (274,656) (110,078) (374,656)
Premium on prepayment of
debt - (32,196) - (36,321)
Settlement of interest
rate swaps - (8,480) - (8,480)
Proceeds from borrowings - 244,253 - 244,253
Payment of debt issuance
costs - (1,133) (741) (1,133)
Tax benefit from exercise
of common stock options (1,795) - 2,203 -
Increases in other credit
facilities (21) 899 (834) 24
Proceeds from issuance of
common stock options 4,135 10,118 21,520 19,388
Purchases of common stock - (24,397) (190,121) (24,397)
Cash dividends (8,605) (9,086) (35,455) (36,296)
----------- --------- --------- ---------
Net cash used in continuing
operations (59,799) (94,678) (313,506) (217,618)
----------- --------- --------- ---------
Net cash used in
discontinued operations - (78) - (233)
----------- --------- --------- ---------
Net cash used in financing
activities (59,799) (94,756) (313,506) (217,851)
----------- --------- --------- ---------
Effect of exchange rate
changes on cash and cash
equivalents 4,166 (1,186) 14,357 (8,780)
----------- --------- --------- ---------
Net (decrease) increase in
cash and cash equivalents (16,015) 336,207 (311,205) 304,751
Cash and cash equivalents at
beginning of period 207,074 166,057 502,264 197,513
----------- --------- --------- ---------
Cash and cash equivalents at
end of period $191,059 $502,264 $191,059 $502,264
=========== ========= ========= =========
PREPARED IN ACCORDANCE WITH GAAP
PerkinElmer, Inc. and Subsidiaries
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
PKI LAS Opto
Adjusted Operating Q406 Q405 Q406 Q405 Q406 Q405
Profit:
GAAP Operating
Profit $52.2 $49.4 $40.9 $45.9 $19.8 $11.2
Intangibles
Amortization 9.6 7.2 9.0 6.6 0.6 0.6
Stock Option
Expense 2.2 - 0.9 - 0.5 -
Impairment of
Assets 3.2 - 3.2 - - -
Restructuring
(Reversals)
Charges (3.4) 7.8 (2.8) 1.9 (0.5) 6.0
-------------- -------------- --------------------
Adjusted Operating
Profit $64.0 $64.4 $51.3 $54.3 $20.4 $17.8
============== ============== ====================
PKI LAS Opto
Adjusted OP Margin: Q406 Q405 Q406 Q405 Q406 Q405
GAAP Operating
Profit 12.2% 12.7% 12.8% 16.0% 18.6% 11.1%
Intangibles
Amortization 2.3% 1.9% 2.8% 2.3% 0.6% 0.6%
Stock Option
Expense 0.5% 0.0% 0.3% 0.0% 0.4% 0.0%
Impairment of
Assets 0.8% 0.0% 1.0% 0.0% 0.0% 0.0%
Restructuring
(Reversals)
Charges -0.8% 2.0% -0.9% 0.7% -0.5% 5.9%
-------------- -------------- --------------------
Adjusted Operating
Profit 15.0% 16.6% 16.0% 19.0% 19.2% 17.6%
============== ============== ====================
PKI PKI
Cash EPS: Q406 Q405 Q107 Q106
GAAP EPS $0.34 $1.45 $0.17 - $0.19 $0.18
Discontinued
Operations (0.01) (1.49) - (0.01)
-------------- --------------------
GAAP EPS from
Continuing
Operations 0.33 (0.05) $0.17 - $0.19 0.17
Intangibles
Amortization 0.05 0.03 0.05 0.04
Stock Option
Expense 0.01 - 0.01 0.01
Impairment of
Assets 0.02 - - -
Restructuring
(Reversals)
Charges (0.02) 0.04 - -
Tax Expense - 0.07 - -
Extinguishment of
Debt - 0.26 - -
-------------- --------------------
Cash EPS $0.39 $0.36 $0.23 - $0.25 $0.22
============== ====================
PKI LAS Opto
Adjusted Operating FY06 FY05 FY06 FY05 FY06 FY05
Profit:
GAAP Operating
Profit $153.4 $141.0 $115.4 $110.2 $70.0 $58.4
Intangibles
Amortization 33.8 28.8 31.3 26.2 2.5 2.6
Stock Option
Expense 9.1 - 3.2 - 1.6 -
Impairment of
Assets 3.2 - 3.2 - - -
Restructuring
(Reversals)
Charges (3.6) 22.1 (1.7) 12.9 (1.9) 9.2
-------------- -------------- --------------------
Adjusted Operating
Profit $195.9 $191.8 $151.4 $149.3 $72.2 $70.2
============== ============== ====================
PKI LAS Opto
Adjusted OP Margin: FY06 FY05 FY06 FY05 FY06 FY05
GAAP Operating
Profit 9.9% 9.6% 10.1% 10.2% 17.4% 14.9%
Intangibles
Amortization 2.2% 2.0% 2.7% 2.4% 0.6% 0.7%
Stock Option
Expense 0.6% 0.0% 0.3% 0.0% 0.4% 0.0%
Impairment of
Assets 0.2% 0.0% 0.3% 0.0% 0.0% 0.0%
Restructuring
(Reversals)
Charges -0.2% 1.5% -0.1% 1.2% -0.5% 2.3%
-------------- -------------- --------------------
Adjusted Operating
Profit 12.7% 13.0% 13.2% 13.8% 18.0% 17.9%
============== ============== ====================
CONTACT: PerkinElmer, Inc.
Investor Relations:
Steven Delahunt, 781-431-4258
or
Media Contact:
Kevin Lorenc, 781-431-4231