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PerkinElmer Q4 Revenues Expected to Rise 66 Percent

NEW YORK – PerkinElmer said on Monday that it expects revenue growth of about 66 percent for the fourth quarter of 2020.

PerkinElmer posted total revenues of $805.5 million in Q4 2019.

Organically, revenue growth is anticipated to be around 63 percent for the three months ended Jan. 3, it said, while GAAP earnings per share from continuing operations are expected to be at least $2.88 and adjusted EPS from continuing operations are expected to be at least $3.60, well above the Wall Street consensus forecast of $2.79.

The Waltham, Massachusetts-based firm attributed its performance to better-than-expected demand for its COVID-19, as well as non-COVID-19 products. COVID-19-related products contributed about $535 million to revenues, while non-COVID-19 products declined about 3 percent organically.

The company is scheduled to release its Q4 financial results on Feb. 2.