Profit rose 26 percent at PerkinElmer

Health and industrial sciences company PerkinElmer Inc. said yesterday that its fourth-quarter profit rose 26 percent on higher sales of health science products, which include laboratory and diagnostic equipment.

The Waltham company earned $52.6 million, or 44 cents per share, compared with profit of $41.7 million, or 34 cents per share, during the same period in 2006. Revenue rose 20 percent to $511.5 million from $427 million.

Analysts polled by Thomson Financial expected profit of 43 cents per share on revenue of $487.4 million.

During the quarter, life and analytical sciences revenue rose 19 percent to $382.1 million while optoelectronics revenue rose 22 percent to $129.4 million. In all, revenue from health sciences products, which made up 84 percent of the total, rose 19 percent. The growth was driven by genetic screening, medical imaging, and analytical science devices.

"The solid fundamentals across our portfolio of businesses reflect the investments that we have made in new products, services and geographic expansion," chairman and chief executive Gregory L. Summe said in a statement.

Those investments include the buyout of ViaCell during the quarter. The company processes and stores stem cells taken from umbilical cord blood.

For the full year, PerkinElmer earned $131.7 million, or $1.09 per share, compared with profit of $119.6 million, or 95 cents per share, in 2006. Revenue rose to $1.79 billion from $1.55 billion.

Looking ahead to the first quarter, the company expects profit of 18 cents or 19 cents per share -- 26 cents or 27 cents per share, excluding charges. Analysts forecast profit of 24 cents per share, on average. (AP)