SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) OCTOBER 26, 2001
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PERKINELMER, INC.
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(Exact Name of Registrant as Specified in Charter)
MASSACHUSETTS 1-5075 04-2052042
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State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)
45 WILLIAM STREET, WELLESLEY, MASSACHUSETTS 02481
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (781) 237-5100
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NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 9. REGULATION FD DISCLOSURE.
PerkinElmer, Inc. (the "Company") has filed this Current Report on Form 8-K
to provide an Adjusted Income Statement Summary on a continuing operations basis
for its seven fiscal quarters ended September 30, 2001 (the "Summary"), in order
to provide additional financial analysis of its historical operating results for
those quarters. The Summary adjusts the Company's historical income statement
data for the indicated periods to give effect to:
-- the Company's classification of its Fluid Sciences business unit as a
discontinued operation;
-- the Company's classification of its Detection Systems unit as a
discontinued operation; and
-- the Company's two-for-one stock split, which was effected on June 1,
2001 by means of a 100% stock dividend.
The Summary has not been prepared in accordance with generally accepted
accounting principles, and excludes goodwill and intangibles amortization,
gains, restructuring and other nonrecurring items, except where noted.
The Company previously filed a Current Report on Form 8-K on August 3, 2001
which included restated versions of its Annual Report on Form 10-K for the year
ended December 31, 2000 and Quarterly Report on Form 10-Q for the quarter ended
April 1, 2001 which gave effect to the Company's classification of its Detection
Systems unit as a discontinued operation. The Company will file in the future
restated versions of its Annual Report on Form 10-K for the year ended December
31, 2000 and Quarterly Reports on Form 10-Q for the quarters ended April 1, 2001
and July 1, 2001 to give effect to the Company's classification of its Fluid
Sciences business unit as a discontinued operation.
PERKINELMER, INC. AND SUBSIDIARIES
ADJUSTED INCOME STATEMENTS
EXCLUDES GOODWILL/INTANGIBLES AMORTIZATION, GAINS, RESTRUCTURING AND OTHER
NONRECURRING ITEMS RESTATED - FLUID SCIENCES AND DETECTION SYSTEMS AS
DISCONTINUED OPERATIONS
2000 2001
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First Second Third Fourth Full First Second Third
$ MILLIONS Quarter Quarter Quarter Quarter Year Quarter Quarter Quarter
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Sales by Segment:
Life Sciences ............. $ 39.6 $ 41.9 $ 60.4 $ 79.4 $ 221.4 $ 69.2 $ 77.7 $ 74.8
Optoelectronics ........... 114.5 120.9 126.3 135.1 496.9 120.9 108.0 97.2
Instruments ............... 157.7 146.3 153.4 160.0 617.4 144.8 146.1 130.2
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TOTAL SALES ................... 311.8 309.2 340.1 374.5 1,335.5 334.9 331.8 302.1
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Cost of Sales ................. 181.9 173.8 189.9 207.7 753.3 184.2 173.1 161.0
R&D ........................... 19.0 18.6 18.5 20.7 76.9 21.2 19.4 18.8
SG&A .......................... 80.5 80.4 87.4 91.6 339.9 86.7 90.1 76.1
Operating Profit By Segment:
Life Sciences ............. 4.8 6.3 12.0 16.1 39.2 10.5 15.2 14.9
Optoelectronics ........... 15.6 19.4 23.3 25.3 83.6 20.2 20.7 18.2
Instruments ............... 14.3 15.3 13.1 19.0 61.7 16.1 18.0 16.7
Corporate ................. (4.5) (4.8) (4.1) (5.9) (19.3) (4.1) (4.8) (3.6)
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TOTAL OPERATING INCOME FROM
CONTINUING OPERATIONS ....... 30.3 36.3 44.3 54.4 165.3 42.7 49.2 46.3
Memo: Total Operating Income
Including Amortization ...... 24.4 29.6 35.9 44.4 134.4 33.3 39.8 36.6
Other (Income)/Expense ........ (0.4) 0.8 1.3 0.1 1.7 2.8 (1.4) (0.8)
Interest (Income)/Expense ..... 6.7 6.3 10.3 9.7 32.9 9.1 8.6 8.6
Total Other (Income)/Expense .. 6.2 7.1 11.6 9.7 34.6 11.9 7.2 7.8
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Income From Continuing
Operations Before Taxes ..... 24.1 29.2 32.8 44.7 130.7 30.9 42.0 38.5
Taxes ......................... 6.2 7.6 10.0 12.5 36.4 9.1 10.9 9.0
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NET INCOME FROM
CONTINUING OPERATIONS ....... $ 17.8 $ 21.6 $ 22.8 $ 32.8 $ 94.4 $ 21.7 $ 31.1 $ 29.5
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Memo: Net Income including
Amortization ................ 13.2 16.4 15.7 23.4 68.7 13.7 22.9 21.0
DILUTED CASH EARNINGS PER SHARE
Continuing ................ 0.18 0.21 0.22 0.31 0.93 0.21 0.30 0.28
Discontinued .............. 0.09 0.10 0.11 0.10 0.40 0.10 0.07 0.10
Total ..................... $ 0.27 $ 0.31 $ 0.33 $ 0.41 $ 1.33 $ 0.31 $ 0.37 $ 0.38
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Diluted Shares ................ 100.8 101.6 102.8 103.9 102.3 104.1 104.1 104.3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PERKINELMER, INC.
By: /s/ Robert F. Friel
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Robert F. Friel
Senior Vice President
and Chief Financial Officer
Date: October 26, 2001