PerkinElmer Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of $641,630,000 against $566,770,000 a year ago. Operating income from continuing operations was $97,420,000 against $80,442,000 a year ago. Income from continuing operations, before income taxes was $80,889,000 against $69,186,000 a year ago. Loss from continuing operations was $38,444,000 or $0.35 per share against income of $62,289,000 or $0.57 per share a year ago. Net loss was $41,117,000 or $0.37 per share against net income of $64,849,000 or $0.59 per share a year ago. Net cash provided by operating activities was $128,098,000 against $148,722,000 a year ago. Capital expenditures were $16,728,000 against $7,291,000 a year ago. Adjusted revenue was $641.8 million against $567.0 million a year ago. Adjusted operating income was $137.0 million against $120.6 million a year ago. Adjusted EPS was $0.97 against $0.83 a year ago.

For the year, the company reported revenue of $2,256,982,000 against $2,115,517,000 a year ago. Operating income from continuing operations was $304,803,000 against $283,066,000 a year ago. Income from continuing operations, before income taxes was $296,718,000 against $244,068,000 a year ago. Income from continuing operations was $156,890,000 or $1.42 per share against $215,706,000 or $1.96 per share a year ago. Net income was $292,633,000 or $2.64 per share against $234,299,000 or $2.12 per share a year ago. Net cash provided by operating activities was $288,453,000 against $350,615,000 a year ago. Capital expenditures were $39,089,000 against $31,702,000 a year ago. Adjusted revenue was $2,257.7 million against $2,116.2 million a year ago. Adjusted operating income was $427.7 million against $393.6 million a year ago. Adjusted EPS was $2.90 against $2.60 a year ago.

The company provided earnings guidance for the first quarter and full year of 2018. For the full year 2018, the company expects to revenue to be in the range of $2.72 billion to $2.74 billion, representing 5% to 6% organic revenue growth on a pro forma basis, which includes approximately $25 million in foreign exchange tailwinds and approximately $360 million reported revenue from EUROIMMUN. Organic growth for the base business is expected to be 4% to 5%, and as Rob mentioned, the impact of EUROIMMUN adding just north of 100 basis points. Full year adjusted earnings per share is expected to be $3.50, which represents approximately 21% adjusted earnings per share growth and includes approximately $0.28 to $0.30 in accretion from EUROIMMUN, which is consistent with its initial expectations. Implicit in this guidance range is adjusted gross margin expansion of approximately 150 basis points, an increase in G&A of approximately 30 basis points, and an increase in R&D of approximately 40 basis points. Full year effective tax rate expected to be approximately 18.5%. The company expects GAAP earnings per share from continuing operations of $2.28.

For the first quarter of 2018, the company expects adjusted earnings per share to be in the range of $0.59 to $0.61. Revenues expected to be approximately $615 million, which represents mid-single-digit organic revenue growth.