UPDATE 1-Thermo Fisher 2nd-quarter profit jumps 52 percent
(Adds outlook, sales details, company comment)
NEW YORK, July 24 (Reuters) - Laboratory equipment maker Thermo Fisher Scientific Inc (TMO.N) on Thursday reported that second-quarter profit jumped 52 percent on double-digit increases in both of its business segments and the currency benefit from the weak dollar on overseas sales.
Net profit rose to $249.5 million, or 57 cents per share, from $163.9 million, or 37 cents per share, a year ago.
Excluding items, Waltham, Massachusetts-based Thermo had adjusted earnings of 79 cents per share, topping analysts' average expectations by 2 cents, according to Reuters Estimates.
"Our strong results to date are right in line with our expectations, and position us well to achieve our financial goals for all of 2008," Chief Executive Marijn Dekkers said in a statement.
The company raised the low end of its previously issued earnings forecast by 4 cents and now expects to earn $3.11 to $3.17 per share. Thermo maintained its full-year revenue forecast of $10.6 billion to $10.7 billion.
Revenue for the quarter rose 14 percent to $2.71 billion with favorable currency exchange rates contributing 4 percent to that growth.
Demonstrating balance in its business, both major units saw sales rise 14 percent. Laboratory Products and Services sales were $1.66 billion, while Analytical Technologies sales were $1.16 billion for the quarter.
Dekkers said the company saw "robust demand in our scientific instruments, specialty diagnostics and biopharma services businesses, as well as ongoing strong performance in Asia overall." (Reporting by Bill Berkrot; Editing by Derek Caney)
