Credit: Shutterstock photoPerkinElmer, Inc. ( PKI ) announced the launch of Elm air monitoring service, which will provide air quality analysis for individuals, smart cities and sustainable communities. The Elm service renders air quality data in real time, which can be readily accessed online and on mobile devices.
The devices in the Elm network have multiple air monitoring sensors. Its units are placed outdoors so that individuals can get real-time air quality information, located in industrial areas, neighborhoods, parks and schools.
The Elm network sensors measure patterns of seven air quality indicators. The indicators are ozone, particulates (soil or dust materials) and nitrogen dioxide (NO2). Each device connects to the secure Elm data network, which is capable of sending readings from the sensors every 20 seconds and enable viewing of timely air quality conditions.
Generally, air monitoring solutions rely on data generated by a limited number of geographically dispersed regulatory lab monitoring stations. However, the Elm service provides information on air quality by providing access to relevant and localized data. In this way, it provides insights on air quality patterns and pollution trends, complementing other conventional monitoring methods.
Recently, PKI has established Elm network in the Boston metro. The network in the area gathers data in 25 discrete locations near schools, parks, roads and neighborhoods. This pilot network is already demonstrating how improving the density of data coverage can enhance the relevancy and availability of air quality data.
In the first quarter of 2014, PKI posted adjusted earnings per share of 46 cents, surpassing the Zacks Consensus Estimate by 3 cents as well as the year-ago level of 36 cents by 27.8%. On a reported basis, PKI posted earnings per share of 30 cents for the quarter, edging past the year-ago reported earnings of 28 cents by 7.1%.
Revenues in the quarter went up 5.2% to $531.9 million and were almost in line with the Zacks Consensus Estimate of $531.0 million. Including purchase accounting adjustments, total revenues increased 5.1% to $533.4 million in the quarter.
For the second quarter of 2014, PKI expects adjusted earnings per share in the range of 57 to 59 cents, which represents growth of 12 to 16% from prior-year quarter. The current Zacks Consensus Estimate of 59 is the top-end of the guided range.
Adjusted revenues are expected in the range of $565 to $575 million. The current Zacks Consensus Estimate of $571 million lies within the guided range.
For 2014, PKI expects reported earnings per share in the range of $1.91 to $1.95. On an adjusted basis, PKI raised its forecast for earnings per share to the range of $2.42 to $2.46 from $2.40 to $2.45. The current Zacks Consensus Estimate of $2.45 lies within the guided range.
Currently PKI carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader healthcare sector include Cardica Inc. ( CRDC ), Eagle Pharmaceuticals Inc. ( EGRX ), and NeuroMetrix Inc. ( NURO ). All of them carry a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
