Perkinelmer Q2 2009 Earnings Transcript

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2009-07-30 23:03:17.0

Tags: Deutsche Bank AG, Q1, Performance Management, Benefits, Human Resources, Workforce Management, Seeking Alpha, PerkinElmer Inc.

Question-and-Answer Session

Operator

(Operator Instructions). And our first question comes from the line of Ross Muken with Deutsche Bank. Please proceed.

Ross Muken - Deutsche Bank

Good afternoon.

Robert Friel

Good afternoon Ross.

Ross Muken - Deutsche Bank

As we look at sort of the top-line I wanted to dig into a few things so as we look at sort of the sequential progression now, I understand on the industrial side where in, on the panel have sort of we saw that deterioration there that's fairly consistent with what we seen with other companies and some of other business units whether it's research or diagnostics end of services we saw a relatively drastic deceleration Q-over-Q has that made you think at all differently about sort of how the days impact affected you in Q1 and in turn when we will have sort of reversal in Q4 or was there something else going on in some of these business units. I know you noted some of the maintenance part of services, but some of the kits and some of the other consumable pieces that cause kind of a relatively drastic kind of flip?

Robert Friel

Yes let me take them sort of one at a time. So I think in the service instance, it was probably the days benefit in Q1, I think we sort of mentioned than in Q1 we thought 11% was probably high and we thought it was probably a mid to may be high single digit growth otherwise. And that's pretty much what we saw in Q2. And just to remind you this doesn't slip for us in Q4. So this is not a situation where we put days in Q1 and it reverses in Q4.

Ross Muken - Deutsche Bank

Right, you have one day left.

Robert Friel

We just have extra days because we are on a fiscal calendar. But then we saw -- I think services, the performance here is been fairly consistent. And I think if you look at Q1 growth versus Q2 growth it's probably just the extra couple of days we had. In the case of biodiscovery, it was really more of a I would say it was two factors. One, it was a function of Q1 and Q2 '08. And I think we tried to mention last quarter. I don't know whether we were sort of specific as our people understood as well. But if you looked at Q1 '08, we were down 7% in Bio-discovery and we grew low double-digit.

 

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