April 30, 2018 / 8:28 PM / 7 months ago

PerkinElmer first-quarter profit beats Street view

April 30 (Reuters) - Laboratory equipment maker PerkinElmer on Monday reported slightly higher-than-expected first-quarter profit and revenue and raised its full-year earnings forecast as sales grew in both of its business units.

The company, which also makes environmental and neonatal testing equipment, said net profit fell to $26 million, or 23 cents per share, from a profit of $38.6 million, or 33 cents a share, a year ago, because of an accounting adjustment related to an acquisition.

Excluding one-time items, PerkinElmer said it earned 63 cents a share. Analysts on average expected 61 cents per share, according to Thomson Reuters I/B/E/S.

The company said it now expected 2018 adjusted earnings of $3.60 per share, up from its prior view of $3.50 and above current Wall Street estimates of $3.53 per share.

Reporting by Bill Berkrot in New York; Editing by Peter Cooney

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