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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (983)	1/3/2002 10:28:13 AM
From: tuck	Respond to of 1784

PKI's detection business rode the terrorism wave and was probably behind PKI's foray back into the 30s. PKI, always an M&A (as opposed to internal growth) type of outfit, now cashes it in, which seems wise. Of course, they've got to have some internal growth, and they do, of late mostly from its life sciences business. Their analytical instruments business is pretty tricklish; only their optoelectronics business is not. If memory serves, the latter accounts for substantially less than 50% of revenue. I'll have a closer look when the next quarterly comes out, but I think PKI can be officially declared a trickle company. >>BOSTON, Jan 3, 2002 (BW HealthWire) -- PerkinElmer, Inc. (NYSE: PKI chart, msgs) announced today the sale of its Detection Systems business to L-3 Communications for approximately $100 million. Detection Systems is a leading supplier of X-ray inspection systems and is expected to generate revenues of more than $80M in 2001. The sale is expected to close in the first quarter of 2001. Gregory L. Summe, chairman and CEO of PerkinElmer, commented, "This divestiture gives us a very strong balance sheet and leaves us exceptionally well positioned to continue growing our three core businesses - Life Sciences, Optoelectronics and Analytical Instruments."<< snip Cheers, Tuck