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PerkinElmer (NYSE:PKI) is expected to report Q3 earnings Thursday, October 29 after market close with a conference call scheduled for 5 pm ET.

Guidance

Analysts are looking for EPS of 27c on revenue of $429.7M. The consensus range is 24c-29c for EPS, and $420.7M-$440.7M for revenue, according to First Call. Positive drivers for the quarter may include revenue growth in research related consumables and food safety items. Negative trends for PerkinElmer could come from instrument sales which have been struggling in an environment of reduced hospital spending.

At the UBS Global Life Sciences conference on September 22, PerkinElmer chairman and CEO Rob Friel said that despite challenging market conditions, the company's full year outlook is in the range of original guidance. The company sees FY09 EPS $1.18-$1.24 versus. consensus $1.21, and sees organic revenue growth down in the mid single digits. Over the long term, the company sees 10%-15% EPS growth, organic revenue growth of 5%-7%, and revenue from acquisitions 2%-3%. Friel said the company has a good financial position and solid balance sheet. On the environmental health side, Friel said the company feels good about the drivers there, which include increased environmental regulation and enforcement, and increasing energy needs and demands.

Source: Earnings Preview: PerkinElmer