The 10-second takeaway
For the quarter ended March 31 (Q1), PerkinElmer missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank slightly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share increased significantly.
Gross margins contracted, operating margins shrank, net margins increased.
PerkinElmer booked revenue of $507.3 million. The 13 analysts polled by S&P Capital IQ anticipated sales of $532.3 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.36. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.48 per share. Non-GAAP EPS of $0.36 for Q1 were 16% lower than the prior-year quarter's $0.43 per share. GAAP EPS of $0.28 for Q1 were 47% higher than the prior-year quarter's $0.19 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 44.5%, 180 basis points worse than the prior-year quarter. Operating margin was 7.8%, 160 basis points worse than the prior-year quarter. Net margin was 6.4%, 200 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $533.6 million. On the bottom line, the average EPS estimate is $0.48.
Next year's average estimate for revenue is $2.17 billion. The average EPS estimate is $2.08.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 109 members out of 123 rating the stock outperform, and 14 members rating it underperform. Among 34 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 30 give PerkinElmer a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PerkinElmer is outperform, with an average price target of $39.27.
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