[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Unaudited Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Financial%20Statements) This section presents PerkinElmer's unaudited condensed consolidated financial statements, adjusted for discontinued operations, reflecting decreased revenue and net income due to lower COVID-19 sales [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenues for the three months ended October 2, 2022, decreased to $711.8 million, resulting in lower net income of $85.3 million and diluted EPS of $0.67 Condensed Consolidated Statements of Operations (Three Months Ended) | Metric | Three Months Ended Oct 2, 2022 (In thousands) | Three Months Ended Oct 3, 2021 (In thousands) | | :--- | :--- | :--- | | **Total revenue** | **$711,803** | **$861,316** | | Operating income from continuing operations | $110,780 | $195,561 | | Income from continuing operations | $69,508 | $107,631 | | **Net income** | **$85,347** | **$127,738** | | Diluted EPS from continuing operations | $0.55 | $0.94 | | **Diluted EPS (Net income)** | **$0.67** | **$1.11** | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of October 2, 2022, total assets decreased to $13.82 billion, total liabilities decreased to $6.76 billion, and stockholders' equity remained stable Condensed Consolidated Balance Sheet Highlights | Metric | Oct 2, 2022 (In thousands) | Jan 2, 2022 (In thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $400,741 | $603,320 | | Total current assets | $3,116,480 | $2,440,780 | | Goodwill | $6,373,327 | $6,627,119 | | **Total assets** | **$13,823,764** | **$15,000,554** | | Total current liabilities | $1,485,731 | $1,213,744 | | Long-term debt | $3,898,267 | $4,979,737 | | **Total liabilities** | **$6,758,564** | **$7,859,309** | | **Total stockholders' equity** | **$7,065,200** | **$7,141,245** | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly decreased to $540.7 million, with net cash used in investing and financing activities for the nine months ended October 2, 2022 Condensed Consolidated Statements of Cash Flows (Nine Months Ended) | Cash Flow Activity | Nine Months Ended Oct 2, 2022 (In thousands) | Nine Months Ended Oct 3, 2021 (In thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $540,652 | $1,075,158 | | Net cash used in investing activities | ($107,167) | ($4,052,807) | | Net cash (used in) provided by financing activities | ($585,106) | $3,080,682 | | **Net (decrease) increase in cash** | **($203,025)** | **$86,449** | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail accounting policies and financial data, covering revenue disaggregation, business combinations, discontinued operations, restructuring, debt, and fair value measurements - In August 2022, the company agreed to sell its Analytical, Food and Enterprise Services businesses to New Mountain Capital for up to **$2.45 billion**. These businesses are now classified as discontinued operations, and prior period financial statements have been retrospectively adjusted[24](index=24&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) - In fiscal year 2021, the company acquired BioLegend, Inc. for an aggregate consideration of **$5.7 billion**, consisting of **$3.3 billion** in cash and **$2.6 billion** in stock, significantly expanding the Discovery & Analytical Solutions segment[33](index=33&type=chunk) Revenue by Segment (Three Months Ended Oct 2, 2022) | Segment | Revenue (In thousands) | YoY Change | | :--- | :--- | :--- | | Discovery & Analytical Solutions | $312,783 | +50.7% | | Diagnostics | $399,020 | -39.0% | | **Total** | **$711,803** | **-17.4%** | - The company initiated several restructuring plans in 2022, involving workforce reductions to realign resources towards growth initiatives and integrate acquisitions, with total charges of **$18.8 million** for the first three quarters[48](index=48&type=chunk)[49](index=49&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 2022 financial results, highlighting a 17.4% revenue decrease driven by lower Diagnostics segment sales, partially offset by Discovery & Analytical Solutions growth from acquisitions [Overview](index=28&type=section&id=Overview) Q3 2022 total revenue decreased by 17.4% to $711.8 million, driven by a 39% decline in Diagnostics due to lower COVID-19 sales, partially offset by 51% growth in Discovery & Analytical Solutions from acquisitions Q3 2022 Performance Summary | Metric | Q3 2022 vs Q3 2021 Change | | :--- | :--- | | Total Revenue | -17.4% | | Diagnostics Segment Revenue | -39% | | Discovery & Analytical Solutions Segment Revenue | +51% | | Consolidated Gross Margin | -352 bps | | Consolidated Operating Margin | -714 bps | [Consolidated Results of Continuing Operations](index=29&type=section&id=Consolidated%20Results%20of%20Continuing%20Operations) Q3 2022 revenue decreased 17.4% to $711.8 million due to lower COVID-19 sales, impacting gross margin, while SG&A decreased and R&D increased reflecting strategic investments - Q3 2022 revenue decreased by **$149.5 million (17.4%)** YoY, primarily due to a **$231.2 million** decline in COVID-19 product revenue from the Diagnostics segment[100](index=100&type=chunk) - Gross margin for Q3 2022 decreased by **352 basis points** to **57.2%**, mainly due to increased amortization of intangible assets from acquisitions (**$35.3 million** vs **$28.5 million** YoY) and lower high-margin COVID-19 revenue[102](index=102&type=chunk) - The effective tax rate from continuing operations for Q3 2022 was **15.4%**, down from **20.3%** in Q3 2021, primarily due to lower income in higher tax jurisdictions and a one-time discrete expense in the prior year[116](index=116&type=chunk) [Reporting Segment Results of Continuing Operations](index=33&type=section&id=Reporting%20Segment%20Results%20of%20Continuing%20Operations) Discovery & Analytical Solutions segment revenue grew 51% to $312.8 million, while Diagnostics segment revenue fell 39% to $399.0 million due to reduced COVID-19 product sales Q3 2022 Segment Performance | Segment | Revenue (In millions) | YoY Change | Operating Income (In millions) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Discovery & Analytical Solutions | $312.8 | +51% | $32.6 | +269% | | Diagnostics | $399.0 | -39% | $94.7 | -60% | [Discontinued Operations](index=35&type=section&id=Discontinued%20Operations) The company is selling its Analytical, Food and Enterprise Services businesses for up to $2.45 billion, now reported as discontinued operations, generating $320.6 million in Q3 2022 revenue - The sale of the Analytical, Food and Enterprise Services businesses is for cash consideration of up to **$2.45 billion**, with approximately **$2.30 billion** payable at closing, expected in Q1 2023[128](index=128&type=chunk) Discontinued Operations Financial Summary (Q3 2022) | Metric | Amount (In thousands) | | :--- | :--- | | Revenue | $320,616 | | Income from discontinued operations before income taxes | $25,180 | [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) As of October 2, 2022, the company had $400.7 million in cash and $1.5 billion in credit, with net cash from operations at $545.3 million, and plans to use divestiture proceeds for debt, repurchases, and strategic acquisitions - As of October 2, 2022, the company had **$400.7 million** in cash and equivalents and **$1.5 billion** of borrowing capacity available under its senior unsecured revolving credit facility[132](index=132&type=chunk) - The company expects to use the **~$2.23 billion** in proceeds from the sale of its discontinued operations to fund debt maturities, opportunistic share repurchases, and strategic acquisitions[130](index=130&type=chunk) - A new **$300.0 million** stock repurchase program was authorized on July 22, 2022, expiring in July 2024, with no shares repurchased under this new program during Q3 2022[134](index=134&type=chunk)[135](index=135&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rate and foreign currency fluctuations, managed with derivatives, with no material changes from its 2021 Form 10-K disclosures - The company's primary market risks are changes in interest rates and foreign currency exchange rates[147](index=147&type=chunk) - The company uses derivative transactions to hedge against known or forecasted market exposures, and these risks have not materially changed since the 2021 Form 10-K[147](index=147&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of October 2, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective at a reasonable assurance level as of October 2, 2022[152](index=152&type=chunk) - No material changes were made to the company's internal control over financial reporting during the third fiscal quarter of 2022[153](index=153&type=chunk) [PART II. OTHER INFORMATION](index=41&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the ordinary course of business, with management not expecting a material adverse effect on financial statements - The company is subject to various legal proceedings but believes the resolution of these matters will not have a material adverse effect on its financial condition[156](index=156&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks including market dependence, COVID-19 impact, global instability, innovation challenges, M&A issues, competition, supply chain disruptions, and regulatory compliance [Risks Related to Business Operations and Industry](index=41&type=section&id=Risks%20Related%20to%20our%20Business%20Operations%20and%20Industry) The company faces risks from market downturns, economic conditions, government funding changes, ongoing COVID-19 impacts, global political instability, innovation failures, M&A challenges, competition, and supply chain disruptions - The business is highly dependent on customer markets (pharma, biotech, academic) and is vulnerable to economic downturns, cuts in government funding, and unfavorable regulations[157](index=157&type=chunk) - The COVID-19 pandemic has reduced demand for certain products and may continue to disrupt operations, supply chains, and manufacturing, with revenue from COVID-19 testing products expected to decline[158](index=158&type=chunk)[162](index=162&type=chunk) - Failure to successfully execute acquisitions or divestitures, such as the pending sale of the Analytical, Food and Enterprise Services businesses, could dilute earnings and present integration or separation challenges[169](index=169&type=chunk)[170](index=170&type=chunk) - Disruptions in the supply of critical raw materials from limited or single-source suppliers could adversely affect business operations and customer relationships[174](index=174&type=chunk) [Risks Related to Intellectual Property](index=45&type=section&id=Risks%20Related%20to%20our%20Intellectual%20Property) The company's competitive advantage relies on intellectual property protection, facing risks of patent challenges, inadequate trade secret protection, and loss of licensed technology rights - The company faces risks that its patents may not be issued, may be challenged by third parties, or may not be broad enough to fully protect its products[182](index=182&type=chunk)[183](index=183&type=chunk) - Loss of licensed rights, through non-renewal or other factors, could require the company to cease selling products or redesign them, potentially losing competitive advantage[185](index=185&type=chunk) [Risks Related to Legal, Government and Regulatory Matters](index=46&type=section&id=Risks%20Related%20to%20Legal%2C%20Government%20and%20Regulatory%20Matters) The company faces product liability risks and must comply with extensive FDA and other regulations, with non-compliance potentially leading to recalls, fines, and significant penalties in the highly regulated healthcare industry - The company's operations are subject to extensive regulation by the FDA and other agencies; non-compliance could lead to product recalls, fines, or criminal penalties[188](index=188&type=chunk) - The highly regulated healthcare industry poses risks of significant fines, penalties, and exclusion from government programs for non-compliance with fraud, abuse, and privacy laws[191](index=191&type=chunk) [Risks Related to Foreign Operations](index=47&type=section&id=Risks%20Related%20to%20our%20Foreign%20Operations) With most revenue from outside the U.S., the company faces risks from foreign currency fluctuations, political instability, trade protectionism, and differing regulations, with Brexit posing ongoing economic uncertainty - With a majority of sales from outside the U.S., the company is exposed to risks including currency fluctuations, political instability, trade sanctions, and differing tax and labor laws[192](index=192&type=chunk)[193](index=193&type=chunk) - Brexit poses ongoing risks of economic volatility and adverse currency movements (GBP vs USD), which could harm the company's UK and European business[195](index=195&type=chunk)[196](index=196&type=chunk) [Risks Related to Debt](index=49&type=section&id=Risks%20Related%20to%20our%20Debt) Substantial debt levels could reduce available funds, limit flexibility, and expose the company to interest rate and foreign currency risks, with restrictive covenants and potential LIBOR discontinuation impacting expenses - Substantial debt levels could require significant cash flow for debt service, reducing funds for other purposes and limiting operational flexibility[197](index=197&type=chunk)[199](index=199&type=chunk) - Existing debt agreements contain restrictive covenants that limit the company's ability to pay dividends, sell assets, and incur additional secured debt[198](index=198&type=chunk)[200](index=200&type=chunk) - The planned discontinuation of LIBOR after June 2023 may increase interest expense on the company's variable-rate debt facilities[203](index=203&type=chunk) [Risks Related to Ownership of Common Stock](index=50&type=section&id=Risks%20Related%20to%20Ownership%20of%20our%20Common%20Stock) The company's common stock price is subject to significant volatility due to market conditions and operating results, and future dividends are not guaranteed and may be reduced or eliminated - The company's common stock price is subject to significant price and volume volatility[204](index=204&type=chunk) - Future dividends are not guaranteed and may be reduced or eliminated by the Board of Directors[205](index=205&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's stock repurchase activities, including a new $300 million program authorized in July 2022, under which no shares were repurchased in Q3 2022, except for tax withholding obligations - A new stock repurchase program for up to **$300 million** was authorized on July 22, 2022, and will expire on July 22, 2024, with no shares repurchased under this program in Q3 2022[207](index=207&type=chunk) - During Q3 2022, the company repurchased **624 shares** of common stock for **$0.1 million** to satisfy minimum statutory tax withholding obligations related to employee equity awards[208](index=208&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Master Purchase and Sale Agreement for divested businesses, employment agreements, CEO/CFO certifications, and XBRL data files - Exhibits filed include the Master Purchase and Sale Agreement for the divested businesses, CEO/CFO certifications, and XBRL interactive data files[209](index=209&type=chunk)[210](index=210&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 3, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-5075 ___ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 3, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-5075 __ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 _____________________________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ________ Commission file number 001-5075 _____________________________________ PerkinElmer, Inc. (Exac ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 3, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-5075 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ FORM 10-Q _______________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 4, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-5075 _____________________ ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________ For the transition period from ____________ to ____________ Table of Contents FORM 10-Q _______________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 4, 2021 Commission File Number 001-5075 __ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 _____________________________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ________ Commission file number 001-5075 _____________________________________ PerkinElmer, Inc. (Exac ...