MKS's net income plummets 59%

A series of charges drove down the second-quarter profit of PerkinElmer, a Waltham health and industrial sciences company, which has an optoelectronics office in Salem (above). (THE BOSTON GLOBE/File 2004)

MKS Instruments Inc., which makes control and measurement products for the semiconductor industry, posted sharply lower second-quarter profit and projected third-quarter earnings below analyst estimates, sending its shares into a tailspin.

For the three months ended June 13, net income sank 59 percent to $9.2 million, or 18 cents per share, from $22.5 million, or 39 cents per share, during the same period last year.

Excluding amortization of acquired intangible assets and special items, the Andover company's second-quarter earnings plunged to $10.5 million, or 21 cents per share, from $25.1 million, or 43 cents per share, in the year-ago period. Sales dropped 16 percent to $171 million from $204 million.

Analysts polled by Thomson Financial, on average, predicted earnings of 25 cents per share on sales of $175 million. Those estimates often exclude special items. (AP)

Chief executive Leo Berlinghieri predicted third-quarter profit could range from 9 to 16 cents per share on sales of $155 million to $165 million.

Raytheon Co., the world's largest missile maker, said second-quarter profit rose 20 percent on increased training work for the US Army and international sales of missiles and intelligence systems. The Waltham company said profit this year will be more than previously forecast.

Profit from continuing operations beat analysts' estimates, climbing to $426 million, or $1 a share, from $355 million, or 79 cents, a year earlier, Raytheon said. Sales gained 11 percent to $5.87 billion.

The company was projected to report per-share profit rose to 93 cents, the average estimate of 16 analysts surveyed by Bloomberg.

Sales were predicted to increase to $5.63 billion, from $5.28 billion.

Per-share profit from continuing operations is now forecast to be $3.80 to $3.95 this year, 15 cents higher than the previous range, Raytheon said.

The firm raised its sales forecast by $200 million to a range of $22.6 billion to $23.1 billion. (Bloomberg)

Laboratory equipment and supply maker Thermo Fisher Scientific Inc. said profit rose 52 percent in the second quarter on strong demand for scientific instruments and solid performance in Asia.

Net income totaled $249.5 million, or 57 cents per share, on revenue of $2.71 billion. That compares with net income of $163.9 million, or 37 cents per share, on revenue of $2.39 billion in the same period last year.

Excluding one-time items, Waltham-based Thermo Fisher's adjusted earnings totaled 79 cents per share.

Analysts polled by Thomson Financial expected earnings per share of 77 cents on revenue of $2.62 billion.

Sales rose in both analytical technologies and laboratory products and services business lines.

The company also said results were boosted by a strong performance in Asia.

Thermo Fisher increased the low end of its earnings outlook for 2008 to a range of $3.11 to $3.17, compared with $3.07 to $3.17 previously.

The company maintained its annual revenue forecast of $10.6 to $10.7 billion

Analysts, on average, expect full-year earnings of $3.16 per share, with sales of $10.66 billion. (AP)

Health and industrial sciences company PerkinElmer Inc. said second-quarter profit plunged 29.6 percent on a series of charges for depreciation and amortization, along with stock option compensation costs.

The Waltham company earned $23.7 million, or 20 cents per share, compared with profit of $33.7 million, or 28 cents per share, during the same period a year earlier.

Excluding charges, earnings were 36 cents per share, topping the 34-cents-per-share estimate of analysts polled by Thomson Financial.

Revenue rose 21 percent to $528.6 million from $437.3 million, while analysts expected revenue of $506.3 million.

PerkinElmer said the bulk of its revenue came from the life-sciences division, which provides research and development services and tools for the healthcare and laboratory market.

Sales in that unit rose 22 percent to $397.1 million.

Sales in the optoelectronics unit, which makes imaging components used in medical consumer products, rose 19 percent to $131.6 million.

For the six months ended June 29, earnings were $43.8 million, or 37 cents per share, versus profit of $48.4 million, or 40 cents per share.

Revenue rose to $1.01 billion from $840.2 million. (AP)

Zoll Medical Corp., which makes resuscitation devices, said fiscal 2008 third-quarter profit rose 33 percent on a boost in North American sales.

But the Chelmsford company gave a weaker-than-expected sales outlook for fiscal 2009.

For the period ended June 29, earnings were $5.7 million, or 27 cents per share, versus profit of $4.3 million, or 21 cents per share, during the same period a year ago.

Revenue rose 27 percent to $100.2 million from $79.2 million.

Analysts polled by Thomson Financial expected 26 cents a share on revenue of $93.3 million. (AP)