PerkinElmer posts major gains in Q1

By The Science Advisory Board staff writers

May 5, 2021 -- PerkinElmer reported sharp increases in revenues and net income for the first quarter of 2021.

The company reported revenues of $1.3 billion for the first quarter of 2021 (end-April 4), which is a 100% increase from the $652 million in revenues posted during the same period in 2020. Net income for the first quarter of 2021 is $379 million, which is a sharp rise from the $33.7 million reported during the same period in 2020.

For the company's discovery division, a 14% increase in revenue of $455 million was reported for the first quarter of 2021. Revenues were $398 million for the first quarter of 2020. Continuing operations income was $43 million in quarter one of 2021, compared to $29 million during the same period of 2020.

For the diagnostics division, the company reported a 236% increase of $853 million in revenues during the first quarter of 2021. During that same period in the year before, revenues were $254 million. Operating income from continuing operations was $441 million in the first quarter of 2021, compared to $30 million for the same quarter in 2020.

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