I've not worked with any of these myself, but a quick CPAN search for "time" turns up DateTime::Precise, and Event::timer and Time::HiRes, plus a whole slew of other modules.

The last one (Time::HiRes) looks most promising.

Update: Looks like nardo beat me to the punch.   But then, he's right outside the window, so what do you expect? (grin)
    cheers,
    ybiC