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PerkinElmer profit falls but sales climb

PerkinElmer chairman and CEO Robert Friel. PerkinElmer chairman and CEO Robert Friel.
August 6, 2011

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Waltham health and industrial sciences company PerkinElmer Inc. said profit fell by half in the second quarter compared with a year ago, when it bought part of a joint venture with Danaher Corp. PerkinElmer said profit declined to $28.6 million, or 25 cents per share, from $57.6 million, or 49 cents per share. But revenue grew 14 percent, to $479.5 million from $421.6 million. Analysts expected a profit of 40 cents and $477.6 million in revenue. PerkinElmer said revenue from its human health business grew 11 percent and environmental health revenue rose 16 percent. PerkinElmer also raised its annual profit forecast to between $1.64 and $1.68 per share.