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Overview of PerkinElmer Inc.
PerkinElmer Inc. is a globally recognized scientific instrumentation and solutions provider that serves the needs of researchers, clinicians, and scientists in diagnostics, life sciences, and applied markets. With decades of expertise, the company combines state-of-the-art technology with deep industry knowledge to deliver instruments and software that empower precise and early insights in analytical and diagnostic processes.
Core Business Areas
PerkinElmer specializes in multiple business areas, including:
- Diagnostics: Offering advanced tools and methodologies designed to support early disease detection and accurate diagnostics.
- Life Sciences: Providing instrumentation and support services that enhance biological research, drug discovery, and genomic studies.
- Food and Applied Markets: Delivering practical solutions tailored to food safety, environmental monitoring, and quality control.
Business Model and Revenue Generation
The company operates by integrating advanced science and technology with customer-focused services, generating revenue through direct sales of high-performance analytical instruments, licensing of proprietary technologies, and ongoing service contracts. The business model emphasizes long-term customer partnerships and continuous innovation, which are vital in meeting the evolving needs of global research communities.
Market Position and Competitive Landscape
Positioned as a significant player in the scientific instrumentation sector, PerkinElmer competes with other global providers by offering an extensive portfolio of integrated solutions. Its competitive edge stems from its deep technical expertise, robust customer service, and strategic investments in research and development. This approach not only addresses current market challenges but also establishes a broad framework that supports complex research endeavors and regulatory needs.
Technological Innovation and Expertise
At its core, PerkinElmer leverages cutting-edge technologies to enable breakthrough discoveries in science and healthcare. The company continuously evolves its product offerings through innovation in instrument design, software integration, and application-specific solutions. These innovations are a direct result of its commitment to deep market insight and technical expertise, ensuring that its customers benefit from the latest advances in scientific research.
Global Reach and Impact
With a presence in numerous countries worldwide, the company functions as a key enabler in global research efforts. By providing technologies that support both clinical and research applications, PerkinElmer contributes significantly to improving healthcare outcomes and advancing scientific understanding. Its global footprint allows it to serve a diverse array of industries, reinforcing its role as a vital partner in enhancing quality of life through scientific progress.
Commitment to Quality and Customer Partnership
PerkinElmer is dedicated to building strategic partnerships with its customers, offering tailored support and service solutions that meet the specific requirements of complex research and diagnostic projects. This commitment is reflected in its holistic approach to customer engagement, combining product excellence with expert consultancy and robust technical assistance.
Conclusion
In summary, PerkinElmer Inc. encapsulates a sophisticated blend of innovation, market insight, and operational excellence. It remains an influential entity in the scientific and healthcare sectors by consistently providing analytical instrumentation and solutions that empower users to achieve early and accurate results. The company’s ability to integrate advanced technology with practical applications makes it an indispensable partner for global research institutions and healthcare providers alike.
PerkinElmer (NYSE: PKI) has priced a $400 million offering of 2.550% Senior Notes due 2031 and 3.625% Senior Notes due 2051. The offering, expected to close on March 8, 2021, aims to utilize approximately $561 million of net proceeds to repay debt related to its acquisition of Oxford Immunotec Global PLC and to refinance existing senior notes. This strategic move aligns with the company's focus on innovation and maintaining a healthy financial position.
PerkinElmer, Inc. (NYSE: PKI) will present at the Barclays Global Healthcare Conference on March 10, 2021, from 9:45 a.m. to 10:10 a.m. ET. The presentation will feature Prahlad Singh, president and CEO, discussing the Company's strategic priorities. Investors can access a live audio webcast of the event on PerkinElmer's website, with a replay available for 90 days post-event. In 2020, PerkinElmer reported revenues of approximately $3.8 billion, employs over 14,000 people, and serves clients in 190 countries, being part of the S&P 500 Index.
PerkinElmer (NYSE: PKI) has launched its COVID-19 Antigen Test for the qualitative detection of SARS-CoV-2 antigen, yielding results in 15 minutes. This test, suitable for professional use in various settings, is already available in over 30 countries. Clinical studies show a sensitivity rate exceeding 97% and 100% specificity, indicating no false positives. The company emphasizes the need for reliable antigen testing to support reopening strategies globally. The test complements PerkinElmer's existing portfolio, which includes high throughput RNA extraction and RT-PCR solutions.
PerkinElmer (NYSE: PKI) provided an update on the accreditation of its COVID-19 Valencia Branch Laboratory (VBL) in collaboration with the California Department of Public Health. The VBL commenced operations on November 1, 2020, and has capacity for 100,000 tests daily. Following a recent inspection, PerkinElmer addressed identified deficiencies and expects a positive response from the College of American Pathologists (CAP) accreditation. The laboratory has tested over 1.5 million samples. PerkinElmer emphasizes its commitment to quality and transparency throughout the accreditation process.
PerkinElmer, a leading global innovator, will present at the 41st Annual Cowen Health Care Conference on March 1, 2021, from 12:20 to 12:50 p.m. ET. CEO Prahlad Singh will discuss the company's strategic priorities. A live audio webcast will be available on the company's Investors page, with a replay accessible for 90 days after the event. In 2020, PerkinElmer reported approximately $3.8 billion in revenue and employs over 14,000 people across 190 countries, contributing to the S&P 500 Index.
PerkinElmer reported strong financial results for Q4 and the full year 2020. Q4 GAAP earnings per share were $3.38, up from $0.58 in Q4 2019. Revenue climbed to $1.355 billion from $805 million YoY. The full year saw GAAP EPS of $6.50, compared to $2.04 in 2019, with annual revenue reaching $3.783 billion, up from $2.884 billion. The Diagnostics segment thrived, with Q4 revenue up 176% to $852 million. For 2021, the company forecasts GAAP revenue of at least $4.08 billion and EPS of at least $6.73, reflecting continued growth.
The Board of Directors of PerkinElmer (NYSE: PKI) announced a quarterly dividend of $0.07 per share, payable on May 7, 2021. Shareholders on record as of April 16, 2021 will receive this dividend. PerkinElmer, a leader in health innovation, reported revenues of approximately $2.9 billion in 2019 and employs around 14,000 people globally, serving customers in 190 countries. The company is also a component of the S&P 500 Index.
PerkinElmer (NYSE:PKI) announced that its New Coronavirus Nucleic Acid Detection Kit has received Emergency Use Authorization (EUA) from the FDA for testing asymptomatic individuals. A significant finding indicates that nearly 60% of COVID-19 transmissions originate from asymptomatic carriers, highlighting the need for effective diagnostic testing. This test boasts the lowest Limit of Detection among authorized COVID-19 tests, making it highly sensitive. The company also offers sample pooling options, enhancing testing capabilities without additional resources.
PerkinElmer (NYSE: PKI) projects 66% reported and 63% organic revenue growth for Q4 2020, with GAAP EPS of at least $2.88 and adjusted EPS of at least $3.60. This robust performance is mainly due to increased demand for COVID-19 solutions, generating approximately $535 million in revenue. However, the non-COVID-19 segment saw a 3% organic decline. The financial results will be released on February 2, 2021, followed by a conference call at 5:00 p.m. ET.
PerkinElmer will acquire Oxford Immunotec for $22.00 per share, valuing the deal at approximately $591 million. This acquisition, expected to close by mid-2021, represents a premium of 28.3% compared to Oxford Immunotec's last closing price and significantly enhances PerkinElmer's portfolio in infectious disease testing, particularly for tuberculosis. PerkinElmer anticipates the deal to be modestly accretive to earnings in the first year and expects Oxford Immunotec's sales growth to outpace its own Diagnostics franchise. Oxford Immunotec will become a privately held company post-acquisition.
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