PerkinElmer Says Profit, Sales Fall

PerkinElmer Inc. said first-quarter profit was little better than break-even because sales fell in the semiconductor, telecommunications and photographic markets. Its shares fell 28%.

The maker of electronics and laboratory equipment said earnings per share fell to 2 cents or less from 22 cents a year earlier. Analysts on average expected 15 cents. Revenue was $300 million to $305million, 10% below the company’s March forecast.

Shares of Wellesley, Mass.-based PerkinElmer fell $4.69 to $12.01 on the NYSE.

The company plans to release full results April 25.