In our Shining Light edition this month, we have chosen to spotlight a company who has shown that you’re never too big to be guided by simple ethical standards and principles. PerkinElmer, Inc. (Ticker: PKI) is a global leader whose focus is improving the health and safety of people and the environment. Headquartered in Massachusetts, the multinational corporation reported revenues of over $2 billion in 2014 and has approximately 8,000 employees serving customers in more than 150 countries. They currently have over 3,300 patents and counting.
Founded in 1937 as an optical design and consulting company, PerkinElmer has a rich heritage of making lives better through scientific innovation. It’s truly astounding how many people their efforts have touched. PerkinElmer technologies and expertise were instrumental in the development of 22 new therapeutic drugs. Their neonatal and newborn screening technologies have aided in screening 486 million babies around the world for a variety of life-threatening diseases. Each year, their advances in digital imaging technology help over one million cancer patients receive better treatment. Their instrumentation and solutions help detect and analyze over 2 billion air, water, and soil samples to ensure safety standards and detect environmental threats. Over two million scientists around the world use their electronic laboratory notebook and software to make more informed scientific decisions, further expanding that incredible reach. (CLICK HERE for more company history and examples of innovation then and now.)
The core values of Collaborate, Inspire and CREATE form the backbone of their achievements:
Commitment to Customers
They actively listen to customers’ problems and apply their insights and expertise to anticipate and address both current and future needs.
Results Focused
This philosophy helps in efforts to meet commitments and deliver better results, both internally and externally.
Ethics and Integrity
All employees are responsible for considering the ethical implications of each decision and action. They are encouraged to challenge assumptions, raise alternatives, seek out diverse perspectives, and treat others with respect at all times.
Action Oriented
A progressive, proactive atmosphere combined with their knowledge and expertise are powerful attributes that consistently set PerkinElmer apart. Their constant pursuit of solutions makes for better decisions and outcomes, creating increased customer value. They collaborate, innovate, make decisions, and execute with speed and agility, while anticipating opportunities and challenges and confront complex or ambiguous situations along the way.
Teamwork
Teamwork and passion combine to inspire their people to make their best contributions. A big part of this is providing the support they need to succeed, promoting communication, and celebrating shared accomplishments.
Entrepreneurial
Curiosity and the pursuit of insights fuel such an innovation-driven business. They hire people who have a passion for learning and thrive on challenges and give them the tools and support they need to succeed.
PerkinElmer’s mission to improve the health and safety of people and the environment goes hand-in-hand with their commitment to social responsibility. Philanthropy, partnerships, and employee engagement keep them an active global citizen and corporate neighbor. In 2011, they launched a program called “For the Better Day” in which teams of employees participate in a day of community service. Some examples of their volunteer efforts include supporting handicapped and orphaned kids, beautifying parks, and building wells for cleaner drinking water. Click here for more information on this particular program.
The Revolutionaries for Global Health Summit, hosted by PerkinElmer, is a platform for world-renowned experts to share best practices in science and business. During the 2013 Summit, customers and employees came together and handmade over 200 cards with kind messages for the children in St. Jude’s Children’s Research Hospital.
The PerkinElmer Foundation, formed in 1979, supports US charitable organizations in communities where they operate and that support their mission. Special focus is given to non-profit organizations dedicated to early diagnosis of disease and to improving and protecting the environment. Donations by corporate officers are matched by the Foundation.
By demanding the highest level of ethics and integrity, not only from each other but also their strategic partners and suppliers, PerkinElmer seeks to ensure that the way they do business is just as meaningful as the solutions they provide. For that, we are proud to name them a Shining Light Company!
DISCLOSURE: Shining Light Companies are exemplary companies who live out the Golden Rule in their business practices, demonstrate strong servant leadership and create compelling value through the products and services they offer. This is intended for general information purposes concerning only the values, corporate culture and business practices of the companies being spotlighted. It DOES NOT incorporate any analysis of the companies’ investment merit based on intrinsic value, fundamental analysis, etc. This must not be construed as investment advice or a buy/sell recommendation. These companies may or may not be included in our LightPoint Portfolios at any given time.