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Covid Tester PerkinElmer Hits Record on Increased Revenue Guidance

Published 07/13/2020, 03:08 PM
Updated 07/13/2020, 03:08 PM
© Reuters.

By Christiana Sciaudone

Investing.com --  PerkinElmer (NYSE:PKI) rose 3.4% after forecasting growth in reported revenue and organic revenue of about 12% for the second quarter thanks to Covid-19 testing. 

Shares are trading at a near-record, up about 60% since hitting a 2020 low in March.

Demand for the company’s RT-PCR and serology tests, RNA extraction systems and kits, and automated liquid handling instrumentation was robust, PerkinElmer said in a statement. Coronavirus-related sales contributed about $190 million of revenue in the second quarter ended July 5.  

Revenue for the second quarter of the previous period totaled $722.5 million, representing growth of 3% compared to a year earlier.  

PerkinElmer releases results on July 28.    

 

 

Latest comments

sticks and stones. da
democrats complain about billionaires and pharmaceutical companies gouging the little person, then due to their hatred of trump hype up COVID-1984 to try and tank the economy and end up just making billionaires and pharmaceuticals richer preying on peoples fear
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