PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, today announced organizational changes effective October 3, 2016 to better position PerkinElmer to grow in attractive end markets and expand share with the Company’s core product offerings through an improved customer focus, more value-add collaboration and breakthrough innovations.
PerkinElmer’s Diagnostics business, focused on reproductive health, emerging market diagnostic solutions and applied genomics, will become a standalone business segment to better meet the needs of clinically-oriented customers in regulated markets. Prahlad Singh, who has been named Senior Vice President and President, Diagnostics effective October 3, 2016, will lead this business.
PerkinElmer’s Environmental Health and Life Science Solutions businesses will combine to form Discovery & Analytical Solutions. This combination will advance PerkinElmer’s success in serving and innovating for its applications-oriented customers in the food, environmental, industrial, and life sciences markets. Jim Corbett has been named Executive Vice President and President, Discovery & Analytical Solutions effective October 3, 2016.
“We are excited about taking the next step in our strategic evolution to drive increasing profitable growth and advance our mission of innovating for a healthier world,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “These organizational changes will accelerate our application and technology development efforts for the benefit of PerkinElmer’s customers as we expand our capabilities to provide more integrated solutions that address critical needs around the globe.”
Factors Affecting Future Performance
This press release
contains "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not limited to,
statements relating to estimates and projections of future earnings per
share, cash flow and revenue growth and other financial results,
developments relating to our customers and end-markets, and plans
concerning business development opportunities and divestitures. Words
such as "believes," "intends," "anticipates," "plans," "expects,"
"projects," "forecasts," "will" and similar expressions, and references
to guidance, are intended to identify forward-looking statements. Such
statements are based on management's current assumptions and
expectations and no assurances can be given that our assumptions or
expectations will prove to be correct. A number of important risk
factors could cause actual results to differ materially from the results
described, implied or projected in any forward-looking statements. These
factors include, without limitation: (1) markets into which we sell our
products declining or not growing as anticipated; (2) fluctuations in
the global economic and political environments; (3) our failure to
introduce new products in a timely manner; (4) our ability to execute
acquisitions and license technologies, or to successfully integrate
acquired businesses and licensed technologies into our existing business
or to make them profitable, or successfully divest businesses; (5) our
failure to adequately protect our intellectual property; (6) the loss of
any of our licenses or licensed rights; (7) our ability to compete
effectively; (8) fluctuation in our quarterly operating results and our
ability to adjust our operations to address unexpected changes; (9)
significant disruption in third-party package delivery and import/export
services or significant increases in prices for those services; (10)
disruptions in the supply of raw materials and supplies; (11) the
manufacture and sale of products exposing us to product liability
claims; (12) our failure to maintain compliance with applicable
government regulations; (13) regulatory changes; (14) our failure to
comply with healthcare industry regulations; (15) economic, political
and other risks associated with foreign operations; (16) our ability to
retain key personnel; (17) significant disruption in our information
technology systems; (18) our ability to obtain future financing; (19)
restrictions in our credit agreements; (20) our ability to realize the
full value of our intangible assets; (21) significant fluctuations in
our stock price; (22) reduction or elimination of dividends on our
common stock; and (23) other factors which we describe under the caption
"Risk Factors" in our most recent quarterly report on Form 10-Q and in
our other filings with the Securities and Exchange Commission. We
disclaim any intention or obligation to update any forward-looking
statements as a result of developments occurring after the date of this
press release.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader
committed to innovating for a healthier world. The Company reported
revenue of approximately $2.3 billion in 2015, has approximately 8,000
employees serving customers in more than 150 countries, and is a
component of the S&P 500 Index. Additional information is available
through 1-877-PKI-NYSE or at www.perkinelmer.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160926005184/en/
Contacts:
Investor Relations:
Tommy J. Thomas,
781-663-5889
tommy.thomas@perkinelmer.com
or
Media:
Brian
Willinsky, 781-663-5728
brian.willinsky@perkinelmer.com