PerkinElmer Inc. (NYSE:PKI) Q4 2019 Earnings Conference Call - Final Transcript

Jan 27, 2020 • 05:00 pm ET


PerkinElmer Inc. (NYSE:PKI) Q4 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by and welcome to the Fourth Quarter 2019 PerkinElmer's Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Mr. Bryan Kipp, Vice President of Investor Relations. Please go ahead, sir.

Bryan Kipp

Thanks, Catherine. Good afternoon and welcome to the PerkinElmer fourth quarter and full year 2019 earnings conference call. With me on the call are Prahlad Singh, President and Chief Executive Officer and Jamey Mock, Senior Vice President and Chief Financial Officer.

If you have not received a copy of our earnings press release, you may get one from the Investors section of our website at Please note this call is being webcast live and will be archived on our website until February 10, 2020.

Before we begin, we need to remind everyone of the Safe Harbor statements that we outlined in our earnings press release issued earlier this afternoon and also those in our SEC filings. Statements or comments made on this call may be forward-looking statements, which may include but are not necessarily limited to financial projections or other statements of the Company's plans, objectives, expectations or intentions. These matters involve certain risks and uncertainties. The Company's actual results may differ significantly from those projected or suggested by any forward-looking statements due to a variety of factors which are discussed in detail in our SEC filings. Any forward-looking statements made today represent our views only as of today. We disclaim any obligation to update forward-looking statements in the future, even if our estimates change. So you should not rely on any of today's forward-looking statements as representing our views as of any date after today. During this call, we will be referring to certain non-GAAP financial measures. A reconciliation of the non-GAAP financial measures we plan to use during this call to the most directly comparable GAAP measures is available as an attachment to our earnings press release. To the extent we use non-GAAP financial measures during this call that are not reconciled to GAAP in that attachment, we will provide reconciliations promptly.

I am now pleased to introduce the President and Chief Executive Officer of PerkinElmer Prahlad Singh. Prahlad?

Prahlad Singh

Thank you, Bryan, and good evening everyone. I'm pleased to report that PerkinElmer had a strong finish to 2019 with reported revenue in the fourth quarter increasing 6% year-over-year and adjusted earnings per share growing 14%, beating both the top and bottom line of our previous guidance.

Our revenue in the fourth quarter was $806 million, representing organic growth of 5% and our adjusted earnings per share was $1.35. As I reflect on 2019, the rapid transformation we made as an organization has put us in an excellent position to accelerate profitable growth and advance outcomes around the world in 2020 and beyond. I have no doubt that these positive changes will become increasingly apparent to external stakeholders over the coming quarters and