WALTHAM, Mass. (AP) _ PerkinElmer Inc. (PKI) on Tuesday reported first-quarter net income of $33.7 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 30 cents. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The maker of scientific instruments posted revenue of $652.4 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $641.2 million.

For the current quarter ending in July, PerkinElmer expects its per-share earnings to be 65 cents.

The company said it expects revenue in the range of $610 million to $720 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $702.3 million.

PerkinElmer shares have fallen roughly 7% since the beginning of the year, while the Standard & Poor's 500 index has decreased 11%. In the final minutes of trading on Tuesday, shares hit $90.41, a decrease of 6.5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PKI at https://www.zacks.com/ap/PKI

Automated Insights, source Associated Press News