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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of PerkinElmer (NYSE: PKI ) , a manufacturer of scientific, medical, and environmental testing and monitoring equipment, advanced as much as 11%, after reporting better-than-expected third-quarter earnings results.
So what: For the third-quarter, PerkinElmer reported a 13% increase in revenue, to $509.6 million, and profits of $0.45, which was in-line with what it reported last year. Relative to Wall Street's expectations, PerkinElmer beat by $0.01. Its double-digit revenue growth has to do with organic growth of 6%, and 24.5% sales growth in its human health division. Furthermore, PerkinElmer boosted its full-year forecast to a range of $2.05-$2.07 from its own previous guidance of $2.00-$2.05.
Now what: The words you want to hone in on in this report revolve around PerkinElmer's 6% organic growth. I like a company that can make accretive acquisitions, but it's much more impressive when a company can grow its existing business without turning to acquisitions. Prior to today's earnings report, PerkinElmer was well off my radar; however, I'm adding it to my Watchlist due to its impressive organic growth and slight EPS bump.
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