PerkinElmer, Inc. (NYSE:PKI) stock fell 1.70% (As on May 12, 11:02:47 AM UTC-4, Source: Google Finance) after the company posted mixed results for the first quarter of FY 23. Life Sciences First quarter 2023 revenue was $328 million, as compared to $306 million in the same period a year ago. Reported revenue of the segment increased 7% and organic revenue increased 9% as compared to the same period a year ago. First quarter 2023 adjusted operating income was $129 million, as compared to $110 million in the same period a year ago. First quarter 2023 adjusted operating profit margin was 39.4% as a percentage of adjusted revenue, as compared to 36.0% in the same period a year ago.  Diagnostics first quarter 2023 revenue was $347 million, as compared to $657 million in the same period a year ago. Reported revenue of the segment decreased 47% and organic revenue decreased 44% as compared to the same period a year ago. First quarter 2023 adjusted operating profit margin was 21.5% as a percentage of adjusted revenue, as compared to 45.8% in the same period a year ago. PKI in the first quarter of FY 23 has reported the adjusted earnings per share of $1.01, beating the analysts’ estimates for the adjusted earnings per share of 99 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 35.9 percent to $674.9 million in the first quarter of FY 23, missing the analysts’ estimates for revenue of $686.3 million. Adjusted operating income was $189 million, as compared to $393 million for the same period a year ago. Adjusted operating profit margin was 28.0% as a percentage of adjusted revenue, as compared to 40.8% in the same period a year ago. Additionally, the company authorizes new $600 million share repurchase program. PerkinElmer expects full-year earnings in the range of $4.85 to $5.05 per share, with revenue in the range of $2.9 billion to $2.94 billion. On the other hand, the Company’s stock ticker will change from PKI to RVTY with the beginning of trading on May 16, 2023. Members of the Revvity team will ring the opening bell of the New York Stock Exchange that morning to commemorate the launch of the Company’s new corporate name and brand, and to celebrate initial trading under the new stock ticker.

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